CFM Wealth Partners LLC Cuts Stock Holdings in Crescent Energy (NYSE:CRGY)

CFM Wealth Partners LLC decreased its holdings in shares of Crescent Energy (NYSE:CRGY) by 7.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 48,621 shares of the company’s stock after selling 3,993 shares during the period. CFM Wealth Partners LLC’s holdings in Crescent Energy were worth $579,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CRGY. CWM LLC increased its position 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 purchasing an additional 1,832 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Crescent Energy in the 2nd quarter worth approximately $32,000. Spirit of America Management Corp NY purchased a new position in shares of Crescent Energy in the 2nd quarter worth approximately $36,000. GAMMA Investing LLC grew its position in shares of Crescent Energy by 186.5% in the 1st quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock worth $54,000 after buying an additional 2,934 shares during the last quarter. Finally, Equitec Proprietary Markets LLC acquired a new stake in Crescent Energy in the 2nd quarter worth approximately $107,000. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on CRGY. Truist Financial lowered their target price 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. Mizuho lowered their target price on shares of Crescent Energy from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Wolfe Research started coverage on shares of Crescent Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $16.00 target price for the company. Stephens restated an “overweight” rating and set a $20.00 price objective on shares of Crescent Energy in a research note on Tuesday, August 6th. Finally, Evercore ISI restated an “outperform” rating and set a $17.00 price objective on shares of Crescent Energy in a research note on Tuesday, September 24th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Crescent Energy currently has an average rating of “Buy” and a consensus target price of $16.20.

Insider Activity

In related news, Director Michael Duginski bought 9,344 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were bought at an average price of $10.62 per share, with a total value of $99,233.28. Following the completion of the transaction, the director now directly owns 201,081 shares of the company’s stock, valued at $2,135,480.22. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders have bought 12,294 shares of company stock valued at $131,297. 13.20% of the stock is currently owned by insiders.

Crescent Energy Stock Performance

CRGY opened at $12.48 on Wednesday. The stock has a market cap of $2.21 billion, a P/E ratio of -62.40 and a beta of 2.19. The firm has a fifty day moving average price of $11.48 and a 200 day moving average price of $11.70. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.87 and a quick ratio of 1.87. Crescent Energy has a 1 year low of $9.88 and a 1 year high of $13.85.

Crescent Energy (NYSE:CRGY) last released its earnings results on Monday, August 5th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. The business had revenue of $653.28 million during the quarter, compared to analyst estimates of $619.00 million. Crescent Energy had a net margin of 0.61% and a return on equity of 13.41%. Equities research analysts anticipate that Crescent Energy will post 1.28 earnings per share for the current year.

Crescent Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.48 annualized dividend and a dividend yield of 3.85%. Crescent Energy’s payout ratio is -240.00%.

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.