14,686 Shares in Crescent Energy (NYSE:CRGY) Purchased by Meeder Asset Management Inc.

Meeder Asset Management Inc. bought a new stake in shares of Crescent Energy (NYSE:CRGY) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,686 shares of the company’s stock, valued at approximately $161,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CRGY. CWM LLC grew its stake in Crescent Energy by 618.9% during the 2nd quarter. CWM LLC now owns 2,128 shares of the company’s stock valued at $25,000 after acquiring an additional 1,832 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Crescent Energy during the 2nd quarter worth approximately $32,000. Farther Finance Advisors LLC grew its position in shares of Crescent Energy by 15,675.0% in the third quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock valued at $35,000 after purchasing an additional 3,135 shares in the last quarter. Spirit of America Management Corp NY acquired a new stake in shares of Crescent Energy in the second quarter valued at approximately $36,000. Finally, Amalgamated Bank lifted its position in Crescent Energy by 86.4% during the third quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock worth $54,000 after buying an additional 2,272 shares in the last quarter. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Crescent Energy Trading Up 1.5 %

CRGY opened at $14.32 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. The firm has a market cap of $3.27 billion, a P/E ratio of 23.09 and a beta of 2.19. Crescent Energy has a 52 week low of $9.88 and a 52 week high of $14.32. The business has a fifty day simple moving average of $12.40 and a 200-day simple moving average of $12.01.

Crescent Energy (NYSE:CRGY) last released its earnings results on Monday, November 4th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.11. The company had revenue of $744.87 million during the quarter, compared to the consensus estimate of $793.88 million. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. During the same period in the previous year, the company posted $0.35 EPS. On average, equities analysts expect that Crescent Energy will post 0.97 earnings per share for the current year.

Crescent Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a dividend of $0.12 per share. The ex-dividend date is Monday, November 18th. This represents a $0.48 dividend on an annualized basis and a yield of 3.35%. Crescent Energy’s dividend payout ratio (DPR) is presently 77.42%.

Analyst Ratings Changes

A number of brokerages have issued reports on CRGY. Wells Fargo & Company cut their target price on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Pickering Energy Partners initiated coverage on shares of Crescent Energy in a research report on Monday, October 28th. They set an “outperform” rating for the company. Evercore ISI reaffirmed an “outperform” rating and set a $17.00 target price on shares of Crescent Energy in a research note on Tuesday, September 24th. Truist Financial dropped their price target on shares of Crescent Energy from $19.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, Mizuho lifted their price target on shares of Crescent Energy from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $15.80.

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.