Segall Bryant & Hamill LLC Has $26.31 Million Holdings in Crescent Energy Company $CRGY

Segall Bryant & Hamill LLC decreased its holdings in Crescent Energy Company (NYSE:CRGY) by 0.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,059,571 shares of the company’s stock after selling 7,587 shares during the period. Segall Bryant & Hamill LLC’s holdings in Crescent Energy were worth $26,312,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Rhumbline Advisers increased its holdings in shares of Crescent Energy by 6.7% during the 2nd quarter. Rhumbline Advisers now owns 533,584 shares of the company’s stock worth $4,589,000 after acquiring an additional 33,497 shares during the last quarter. Legal & General Group Plc boosted its position in Crescent Energy by 7.5% during the second quarter. Legal & General Group Plc now owns 480,736 shares of the company’s stock worth $4,134,000 after purchasing an additional 33,688 shares during the period. Swiss National Bank increased its holdings in shares of Crescent Energy by 6.1% in the second quarter. Swiss National Bank now owns 366,167 shares of the company’s stock valued at $3,149,000 after purchasing an additional 21,100 shares during the last quarter. Empowered Funds LLC raised its position in shares of Crescent Energy by 6.6% in the second quarter. Empowered Funds LLC now owns 1,115,290 shares of the company’s stock valued at $9,591,000 after purchasing an additional 68,821 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of Crescent Energy by 102.4% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 39,551 shares of the company’s stock valued at $340,000 after purchasing an additional 20,007 shares during the period. 52.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Piper Sandler decreased their price target on shares of Crescent Energy from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday. Zacks Research downgraded shares of Crescent Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Wells Fargo & Company decreased their target price on Crescent Energy from $20.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, October 17th. Weiss Ratings reiterated a “sell (d)” rating on shares of Crescent Energy in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut Crescent Energy from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Crescent Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.11.

Crescent Energy Stock Performance

NYSE CRGY opened at $8.83 on Friday. The firm has a 50-day moving average price of $8.72 and a two-hundred day moving average price of $8.93. Crescent Energy Company has a 12-month low of $6.83 and a 12-month high of $16.94. The company has a market capitalization of $2.25 billion, a P/E ratio of -49.06 and a beta of 1.85. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.75.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $866.58 million during the quarter, compared to the consensus estimate of $887.54 million. Crescent Energy had a net margin of 0.67% and a return on equity of 13.35%. Analysts anticipate that Crescent Energy Company will post 0.77 earnings per share for the current year.

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $0.48 annualized dividend and a yield of 5.4%. Crescent Energy’s payout ratio is currently -320.00%.

About Crescent Energy

Crescent Energy Company acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. Its portfolio of assets comprises mid-cycle unconventional and conventional assets in the Eagle Ford and Uinta Basins. It also owns and operates various midstream assets, which provide services to customers.