Crescent Energy (NYSE:CRGY) Shares Sold by Toth Financial Advisory Corp

Toth Financial Advisory Corp cut its holdings in Crescent Energy (NYSE:CRGY) by 52.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,310 shares of the company’s stock after selling 4,690 shares during the quarter. Toth Financial Advisory Corp’s holdings in Crescent Energy were worth $48,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CRGY. Public Employees Retirement System of Ohio lifted its stake in Crescent Energy by 35.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company’s stock valued at $40,000 after buying an additional 705 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Crescent Energy by 4.3% during the 4th quarter. Hsbc Holdings PLC now owns 18,902 shares of the company’s stock valued at $276,000 after purchasing an additional 785 shares in the last quarter. Dark Forest Capital Management LP lifted its stake in shares of Crescent Energy by 4.0% in the 4th quarter. Dark Forest Capital Management LP now owns 33,350 shares of the company’s stock valued at $487,000 after purchasing an additional 1,282 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in Crescent Energy by 10.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 24,234 shares of the company’s stock worth $354,000 after purchasing an additional 2,306 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its position in shares of Crescent Energy by 206.7% in the fourth quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company’s stock valued at $52,000 after purchasing an additional 2,377 shares during the period. 52.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on CRGY. Citigroup cut Crescent Energy to a “reduce” rating in a research report on Wednesday, March 5th. Mizuho cut their target price on Crescent Energy from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. Raymond James restated a “strong-buy” rating and issued a $18.00 price target (down from $23.00) on shares of Crescent Energy in a research report on Friday, March 28th. Stephens restated an “overweight” rating and set a $17.00 target price on shares of Crescent Energy in a report on Monday, March 3rd. Finally, Piper Sandler began coverage on shares of Crescent Energy in a report on Monday. They issued an “overweight” rating and a $14.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.09.

Crescent Energy Trading Up 0.6%

Shares of NYSE:CRGY opened at $9.08 on Tuesday. The company’s fifty day simple moving average is $8.49 and its 200 day simple moving average is $12.04. Crescent Energy has a 12 month low of $6.83 and a 12 month high of $16.94. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 14.65 and a beta of 1.75. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. The business had revenue of $950.17 million for the quarter, compared to analyst estimates of $937.55 million. As a group, research analysts forecast that Crescent Energy will post 0.77 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 5.29%. The ex-dividend date of this dividend was Monday, May 19th. Crescent Energy’s payout ratio is presently -106.67%.

Insider Buying and Selling at Crescent Energy

In related news, Director Michael Duginski acquired 20,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were bought at an average cost of $10.57 per share, with a total value of $211,400.00. Following the completion of the transaction, the director now directly owns 259,607 shares of the company’s stock, valued at $2,744,045.99. This trade represents a 8.35% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 13.20% of the company’s stock.

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.