GAMMA Investing LLC reduced its stake in Crescent Energy (NYSE:CRGY – Free Report) by 29.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,189 shares of the company’s stock after selling 1,318 shares during the quarter. GAMMA Investing LLC’s holdings in Crescent Energy were worth $38,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of CRGY. Amalgamated Bank raised its position in Crescent Energy by 58.5% in the 4th quarter. Amalgamated Bank now owns 7,444 shares of the company’s stock valued at $98,000 after buying an additional 2,748 shares during the last quarter. J.W. Cole Advisors Inc. bought a new position in Crescent Energy in the 4th quarter valued at $136,000. Raymond James Financial Services Advisors Inc. bought a new position in Crescent Energy in the 4th quarter valued at $139,000. Carson Advisory Inc. bought a new position in Crescent Energy in the 4th quarter valued at $144,000. Finally, Bayesian Capital Management LP bought a new position in Crescent Energy in the 1st quarter valued at $145,000. 52.11% of the stock is owned by hedge funds and other institutional investors.
Crescent Energy Stock Down 0.5 %
CRGY stock opened at $10.47 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of -52.35 and a beta of 2.32. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $14.22. The stock has a fifty day moving average of $11.89 and a 200-day moving average of $11.56.
Crescent Energy Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $0.48 annualized dividend and a yield of 4.58%. Crescent Energy’s dividend payout ratio is currently -240.00%.
Analysts Set New Price Targets
A number of research analysts have issued reports on CRGY shares. Mizuho upped their price objective on Crescent Energy from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Wells Fargo & Company started coverage on Crescent Energy in a research note on Thursday. They issued an “overweight” rating and a $20.00 price objective for the company. Stephens restated an “overweight” rating and issued a $20.00 price objective on shares of Crescent Energy in a research note on Tuesday, August 6th. Truist Financial reduced their price objective on Crescent Energy from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Finally, Wolfe Research assumed coverage on Crescent Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $16.00 price objective for the company. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Crescent Energy has a consensus rating of “Buy” and an average target price of $16.70.
Crescent Energy Company Profile
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.
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