Segall Bryant & Hamill LLC Buys 1,001,552 Shares of Crescent Energy (NYSE:CRGY)

Segall Bryant & Hamill LLC raised its position in shares of Crescent Energy (NYSE:CRGY) by 48.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,072,410 shares of the company’s stock after purchasing an additional 1,001,552 shares during the quarter. Segall Bryant & Hamill LLC owned 1.73% of Crescent Energy worth $33,643,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Moody National Bank Trust Division bought a new stake in shares of Crescent Energy in the 2nd quarter valued at about $769,000. Interval Partners LP acquired a new stake in Crescent Energy during the 2nd quarter worth $1,835,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Crescent Energy during the 2nd quarter valued at about $3,496,000. Empowered Funds LLC raised its holdings in Crescent Energy by 11.4% in the 3rd quarter. Empowered Funds LLC now owns 925,301 shares of the company’s stock valued at $10,132,000 after buying an additional 94,948 shares during the period. Finally, Boston Partners purchased a new stake in Crescent Energy in the 1st quarter valued at about $630,000. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Crescent Energy Trading Up 1.5 %

Shares of CRGY stock opened at $14.32 on Wednesday. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $14.32. The stock has a market cap of $3.27 billion, a P/E ratio of 23.09 and a beta of 2.19. The business has a fifty day simple moving average of $12.40 and a 200-day simple moving average of $12.01. 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 results on Monday, November 4th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.11. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. The business had revenue of $744.87 million during the quarter, compared to analysts’ expectations of $793.88 million. During the same quarter last year, the business posted $0.35 earnings per share. On average, analysts forecast that Crescent Energy will post 0.97 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th 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 3.35%. The ex-dividend date of this dividend is Monday, November 18th. Crescent Energy’s payout ratio is currently 77.42%.

Wall Street Analyst Weigh In

CRGY has been the topic of a number of recent research reports. Mizuho upped their target price on shares of Crescent Energy from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Evercore ISI reissued an “outperform” rating and issued a $17.00 price objective on shares of Crescent Energy in a report on Tuesday, September 24th. Pickering Energy Partners started coverage on Crescent Energy in a report on Monday, October 28th. They set an “outperform” rating for the company. Wells Fargo & Company decreased their price target on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Finally, Stephens increased their price target on Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Crescent Energy presently has an average rating of “Buy” and a consensus price target of $15.80.

About Crescent Energy

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.