Crescent Energy Company $CRGY Holdings Reduced by Pingora Partners LLC

Pingora Partners LLC cut its holdings in Crescent Energy Company (NYSE:CRGY) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,159,819 shares of the company’s stock after selling 53,074 shares during the period. Crescent Energy accounts for 6.0% of Pingora Partners LLC’s holdings, making the stock its 2nd biggest holding. Pingora Partners LLC owned 0.46% of Crescent Energy worth $9,731,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Caitlin John LLC purchased a new position in Crescent Energy in the 3rd quarter worth approximately $27,000. Fifth Third Bancorp lifted its holdings in Crescent Energy by 109.3% in the 4th quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock worth $33,000 after purchasing an additional 2,039 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Crescent Energy by 134.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock worth $33,000 after purchasing an additional 2,286 shares in the last quarter. Quarry LP lifted its holdings in Crescent Energy by 303.5% in the 3rd quarter. Quarry LP now owns 4,152 shares of the company’s stock worth $37,000 after purchasing an additional 3,123 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in Crescent Energy by 42.3% in the 4th quarter. Allworth Financial LP now owns 4,712 shares of the company’s stock worth $40,000 after purchasing an additional 1,401 shares in the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Price Performance

CRGY opened at $11.57 on Monday. The business has a fifty day moving average of $12.60 and a 200 day moving average of $10.92. Crescent Energy Company has a 52-week low of $7.68 and a 52-week high of $14.29. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.12. The stock has a market cap of $3.82 billion, a P/E ratio of -15.42 and a beta of 1.37.

Crescent Energy (NYSE:CRGY) last issued its earnings results on Monday, May 4th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.14. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. Crescent Energy had a positive return on equity of 8.10% and a negative net margin of 7.47%.Crescent Energy’s revenue was up 24.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 EPS. As a group, sell-side analysts anticipate that Crescent Energy Company will post 1.99 EPS for the current year.

Crescent Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.2%. The ex-dividend date was Monday, May 18th. Crescent Energy’s payout ratio is presently -64.00%.

Analysts Set New Price Targets

CRGY has been the topic of a number of research reports. Stephens reaffirmed an “overweight” rating and issued a $18.00 price objective on shares of Crescent Energy in a research note on Tuesday, May 5th. KeyCorp reaffirmed an “overweight” rating and issued a $19.00 price objective on shares of Crescent Energy in a research note on Thursday. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $20.00 price objective on shares of Crescent Energy in a research note on Thursday, April 30th. Zacks Research raised Crescent Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 3rd. Finally, Mizuho lifted their price objective on Crescent Energy from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.00.

Crescent Energy Company Profile

Crescent Energy Co (NYSE: CRGY) is an independent exploration and production company focused on the acquisition, development and production of oil and natural gas resources in North America. Headquartered in Oklahoma City, the company’s core business activities include the identification and appraisal of prospective acreage, the design and execution of drilling and completion programs, and the ongoing operation and optimization of producing wells. Crescent Energy’s integrated approach emphasizes capital efficiency, reservoir quality and operational reliability to support sustainable cash flow generation over the commodity cycle.

Crescent Energy’s operations are concentrated in the Permian Basin, with a particular focus on the Delaware Basin’s stacked pay intervals.