Sunbelt Securities Inc. Has $1.22 Million Stock Holdings in Crescent Energy Company $CRGY

Sunbelt Securities Inc. lifted its stake in Crescent Energy Company (NYSE:CRGY) by 382.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 136,999 shares of the company’s stock after purchasing an additional 108,595 shares during the quarter. Sunbelt Securities Inc. owned 0.05% of Crescent Energy worth $1,222,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. PharVision Advisers LLC purchased a new position in Crescent Energy in the 3rd quarter worth about $192,000. XTX Topco Ltd purchased a new stake in Crescent Energy during the third quarter valued at about $540,000. Van Den Berg Management I Inc. boosted its holdings in shares of Crescent Energy by 3.0% in the third quarter. Van Den Berg Management I Inc. now owns 133,080 shares of the company’s stock worth $1,187,000 after buying an additional 3,898 shares during the period. Virtus Advisers LLC acquired a new position in shares of Crescent Energy in the third quarter worth about $870,000. Finally, Voleon Capital Management LP purchased a new position in shares of Crescent Energy in the third quarter worth approximately $140,000. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Mizuho raised their price objective on shares of Crescent Energy from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $9.00 target price on shares of Crescent Energy in a research report on Sunday, January 25th. Wells Fargo & Company upped their price target on Crescent Energy from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday. Zacks Research upgraded Crescent Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 20th. Finally, Evercore assumed coverage on shares of Crescent Energy in a research note on Tuesday, December 16th. They set an “outperform” rating and a $13.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Crescent Energy has a consensus rating of “Moderate Buy” and a consensus target price of $13.13.

Crescent Energy Stock Performance

NYSE:CRGY opened at $12.50 on Thursday. The firm has a market capitalization of $4.10 billion, a PE ratio of 24.03 and a beta of 1.57. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.07. Crescent Energy Company has a 1 year low of $6.83 and a 1 year high of $12.53. The firm’s fifty day simple moving average is $10.14 and its 200 day simple moving average is $9.26.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.19. The firm had revenue of $865.05 million during the quarter, compared to the consensus estimate of $884.64 million. Crescent Energy had a net margin of 3.71% and a return on equity of 8.36%. On average, sell-side analysts anticipate that Crescent Energy Company will post 0.77 EPS for the current year.

Crescent Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Wednesday, March 11th. Crescent Energy’s dividend payout ratio is presently 92.31%.

Crescent Energy 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.