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

CFM Wealth Partners LLC trimmed its position in shares of Crescent Energy (NYSE:CRGY) by 7.6% during the third quarter, Holdings Channel reports. The institutional investor owned 48,621 shares of the company’s stock after selling 3,993 shares during the quarter. CFM Wealth Partners LLC’s holdings in Crescent Energy were worth $579,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Crescent Energy by 13.9% during the first quarter. Vanguard Group Inc. now owns 9,308,793 shares of the company’s stock worth $110,775,000 after buying an additional 1,137,367 shares during the period. American Century Companies Inc. increased its stake in shares of Crescent Energy by 444.8% during the second quarter. American Century Companies Inc. now owns 7,775,940 shares of the company’s stock worth $92,145,000 after buying an additional 6,348,598 shares during the period. Marshall Wace LLP increased its stake in Crescent Energy by 286.7% in the second quarter. Marshall Wace LLP now owns 2,830,118 shares of the company’s stock valued at $33,537,000 after purchasing an additional 2,098,303 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Crescent Energy by 85.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,656,222 shares of the company’s stock valued at $31,477,000 after purchasing an additional 1,226,027 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in Crescent Energy by 63.0% in the first quarter. Bridgeway Capital Management LLC now owns 1,590,748 shares of the company’s stock valued at $18,930,000 after purchasing an additional 614,969 shares during the last quarter. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

Crescent Energy Price Performance

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

Crescent Energy (NYSE:CRGY) last released its earnings results on Monday, August 5th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. Crescent Energy had a return on equity of 13.41% and a net margin of 0.61%. The company had revenue of $653.28 million during the quarter, compared to the consensus estimate of $619.00 million. Sell-side analysts forecast that Crescent Energy will post 1.28 EPS 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 $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend was Monday, August 19th. Crescent Energy’s dividend payout ratio is currently -240.00%.

Analyst Ratings Changes

CRGY has been the topic of several recent analyst reports. KeyCorp initiated coverage on shares of Crescent Energy in a research note on Thursday, June 27th. They issued an “overweight” rating and a $16.00 price target on the stock. Mizuho dropped their price target on shares of Crescent Energy from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Truist Financial lowered their target price 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. Wells Fargo & Company lowered their target price on shares of Crescent Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Finally, Wolfe Research assumed coverage on shares of Crescent Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $16.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $16.20.

Insider Activity

In other news, Director Michael Duginski purchased 9,344 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was acquired at an average price of $10.62 per share, for a total transaction of $99,233.28. Following the completion of the transaction, the director now directly owns 201,081 shares in the company, valued at $2,135,480.22. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders bought a total of 12,294 shares of company stock worth $131,297 over the last 90 days. 13.20% of the stock is currently owned by corporate insiders.

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.