McAlvany Wealth Management LLC Acquires 96,406 Shares of Crescent Energy Company $CRGY

McAlvany Wealth Management LLC boosted its holdings in shares of Crescent Energy Company (NYSE:CRGY) by 71.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 231,105 shares of the company’s stock after acquiring an additional 96,406 shares during the quarter. Crescent Energy accounts for 2.0% of McAlvany Wealth Management LLC’s portfolio, making the stock its 22nd biggest holding. McAlvany Wealth Management LLC owned about 0.07% of Crescent Energy worth $3,129,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Strs Ohio purchased a new stake in Crescent Energy in the first quarter worth $32,000. Fifth Third Bancorp boosted its stake in shares of Crescent Energy by 109.3% during the fourth quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock valued at $33,000 after purchasing an additional 2,039 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of Crescent Energy by 134.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock valued at $33,000 after purchasing an additional 2,286 shares during the period. Quarry LP boosted its stake in shares of Crescent Energy by 303.5% during the third quarter. Quarry LP now owns 4,152 shares of the company’s stock valued at $37,000 after purchasing an additional 3,123 shares during the period. Finally, Allworth Financial LP grew its holdings in shares of Crescent Energy by 42.3% in the fourth quarter. Allworth Financial LP now owns 4,712 shares of the company’s stock worth $40,000 after purchasing an additional 1,401 shares during the last quarter. Institutional investors own 52.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CRGY. Raymond James Financial decreased their price objective on shares of Crescent Energy from $20.00 to $18.00 and set a “strong-buy” rating for the company in a report on Thursday, June 18th. KeyCorp restated an “overweight” rating and issued a $19.00 target price on shares of Crescent Energy in a research note on Thursday, June 11th. Zacks Research lowered shares of Crescent Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. JPMorgan Chase & Co. raised shares of Crescent Energy from a “neutral” rating to an “overweight” rating and set a $19.00 target price on the stock in a research report on Friday, March 20th. Finally, Wells Fargo & Company lifted their price target on shares of Crescent Energy from $14.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.58.

Crescent Energy Stock Performance

Shares of Crescent Energy stock opened at $10.73 on Friday. The firm has a market cap of $3.55 billion, a P/E ratio of -14.31 and a beta of 1.40. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.12. Crescent Energy Company has a 12 month low of $7.68 and a 12 month high of $14.29. The stock’s fifty day moving average price is $11.21 and its 200-day moving average price is $11.09.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Monday, May 4th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.14. Crescent Energy had a negative net margin of 7.47% and a positive return on equity of 8.10%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the firm earned $0.57 earnings per share. The firm’s revenue for the quarter was up 24.5% compared to the same quarter last year. On average, equities research analysts expect that Crescent Energy Company will post 1.77 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were issued a $0.12 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.48 annualized dividend and a dividend yield of 4.5%. Crescent Energy’s payout ratio is currently -64.00%.

Crescent Energy Company 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.