310,539 Shares in Crescent Energy (NYSE:CRGY) Acquired by Phocas Financial Corp.

Phocas Financial Corp. bought a new stake in shares of Crescent Energy (NYSE:CRGY) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 310,539 shares of the company’s stock, valued at approximately $3,400,000. Phocas Financial Corp. owned about 0.17% of Crescent Energy at the end of the most recent quarter.

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

Crescent Energy Price Performance

NYSE:CRGY opened at $14.11 on Tuesday. The business’s 50-day moving average is $12.32 and its 200 day moving average is $11.99. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $14.24. The company has a market capitalization of $3.22 billion, a P/E ratio of 22.76 and a beta of 2.19. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12.

Crescent Energy (NYSE:CRGY) last posted its earnings results on Monday, November 4th. The company reported $0.39 EPS 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 firm had revenue of $744.87 million during the quarter, compared to the consensus estimate of $793.88 million. During the same period in the prior year, the company earned $0.35 EPS. On average, equities research analysts forecast that Crescent Energy will post 0.97 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a $0.12 dividend. The ex-dividend date is Monday, November 18th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.40%. Crescent Energy’s payout ratio is currently 77.42%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Truist Financial decreased their price target on shares of Crescent Energy from $19.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Stephens upped their price target on Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Evercore ISI reaffirmed an “outperform” rating and set a $17.00 price objective on shares of Crescent Energy in a research report on Tuesday, September 24th. Mizuho raised 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. Finally, Pickering Energy Partners started coverage on shares of Crescent Energy in a research report on Monday, October 28th. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Crescent Energy has an average rating of “Buy” and a consensus target price 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.