Y Intercept Hong Kong Ltd Raises Position in Crescent Energy Company $CRGY

Y Intercept Hong Kong Ltd increased its stake in shares of Crescent Energy Company (NYSE:CRGY) by 208.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 60,849 shares of the company’s stock after purchasing an additional 41,091 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Crescent Energy were worth $523,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Brooklyn Investment Group increased its stake in Crescent Energy by 1,110.3% in the 1st quarter. Brooklyn Investment Group now owns 2,457 shares of the company’s stock worth $28,000 after buying an additional 2,254 shares during the period. Allworth Financial LP purchased a new position in Crescent Energy during the 1st quarter valued at about $34,000. GAMMA Investing LLC raised its holdings in shares of Crescent Energy by 287.3% in the 2nd quarter. GAMMA Investing LLC now owns 9,585 shares of the company’s stock valued at $82,000 after purchasing an additional 7,110 shares in the last quarter. DRW Securities LLC purchased a new stake in shares of Crescent Energy in the 1st quarter worth approximately $115,000. Finally, MQS Management LLC purchased a new position in Crescent Energy during the second quarter valued at approximately $91,000. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Zacks Research upgraded shares of Crescent Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. William Blair initiated coverage on Crescent Energy in a report on Monday, August 25th. They set an “outperform” rating on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Crescent Energy in a report on Wednesday, October 8th. Mizuho set a $11.00 price target on shares of Crescent Energy in a research report on Tuesday. Finally, Piper Sandler upped their price objective on shares of Crescent Energy from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Thursday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.33.

Crescent Energy Stock Performance

Shares of CRGY opened at $8.50 on Friday. The firm has a market cap of $2.16 billion, a PE ratio of -47.19 and a beta of 1.85. Crescent Energy Company has a 12-month low of $6.83 and a 12-month high of $16.94. The company’s 50 day simple moving average is $8.71 and its 200-day simple moving average is $8.88. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.75.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.20. The company had revenue of $897.98 million for the quarter, compared to analyst estimates of $868.34 million. Crescent Energy had a return on equity of 13.35% and a net margin of 0.67%. As a group, equities analysts predict that Crescent Energy Company will post 0.77 EPS for the current year.

Crescent Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Monday, November 17th. Crescent Energy’s dividend payout ratio (DPR) is -320.00%.

Crescent Energy 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.