Magnolia Capital Advisors LLC Has $1.07 Million Stock Position in Crescent Energy (NYSE:CRGY)

Magnolia Capital Advisors LLC reduced its position in shares of Crescent Energy (NYSE:CRGY) by 35.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 81,016 shares of the company’s stock after selling 44,493 shares during the quarter. Magnolia Capital Advisors LLC’s holdings in Crescent Energy were worth $1,070,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. J.W. Cole Advisors Inc. purchased a new stake in shares of Crescent Energy in the fourth quarter worth approximately $136,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Crescent Energy in the fourth quarter worth approximately $139,000. SG Americas Securities LLC purchased a new stake in shares of Crescent Energy in the third quarter worth approximately $140,000. Gallacher Capital Management LLC purchased a new stake in shares of Crescent Energy in the third quarter worth approximately $155,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Crescent Energy by 134.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,097 shares of the company’s stock worth $178,000 after purchasing an additional 8,092 shares during the last quarter. 52.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Crescent Energy

In other news, major shareholder Energy Aggregator Independence sold 13,800,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $9.87, for a total value of $136,206,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 13.20% of the stock is owned by corporate insiders.

Crescent Energy Stock Performance

NYSE CRGY traded down $0.21 on Wednesday, hitting $10.77. 1,997,181 shares of the stock traded hands, compared to its average volume of 1,350,391. The business’s fifty day moving average is $11.30 and its two-hundred day moving average is $11.55. Crescent Energy has a 12 month low of $9.17 and a 12 month high of $14.22. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 8.35 and a beta of 2.24. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.82 and a current ratio of 0.82.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Monday, March 4th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.37. Crescent Energy had a return on equity of 13.30% and a net margin of 2.84%. The business had revenue of $657.73 million during the quarter, compared to analyst estimates of $584.12 million. As a group, equities analysts anticipate that Crescent Energy will post 0.99 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend was Thursday, March 14th. Crescent Energy’s dividend payout ratio (DPR) is 37.21%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Stephens reissued an “overweight” rating and issued a $17.00 price objective on shares of Crescent Energy in a research note on Tuesday, March 5th. Mizuho reaffirmed a “neutral” rating and set a $13.00 price target (down from $14.00) on shares of Crescent Energy in a research report on Friday, March 22nd. Tudor, Pickering, Holt & Co. began coverage on Crescent Energy in a research report on Wednesday, April 10th. They set a “buy” rating and a $18.00 price target for the company. Truist Financial decreased their price target on Crescent Energy from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Finally, Wells Fargo & Company increased their price target on Crescent Energy from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Crescent Energy has a consensus rating of “Buy” and a consensus price target of $16.38.

Crescent Energy Profile

Crescent Energy Company, an energy company, acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. The company holds a portfolio of oil and natural gas assets in key proven regions, including Eagle Ford and Uinta basins. The company is based in Houston, Texas.