Heritage Wealth Management Inc. Raises Holdings in Crescent Energy (NYSE:CRGY)

Heritage Wealth Management Inc. increased its position in shares of Crescent Energy (NYSE:CRGY) by 2.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 111,475 shares of the company’s stock after purchasing an additional 2,775 shares during the quarter. Heritage Wealth Management Inc.’s holdings in Crescent Energy were worth $1,629,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its holdings in Crescent Energy by 15,675.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock valued at $35,000 after buying an additional 3,135 shares in the last quarter. Amalgamated Bank grew its holdings in Crescent Energy by 86.4% in the 3rd quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock valued at $54,000 after buying an additional 2,272 shares in the last quarter. GAMMA Investing LLC grew its holdings in Crescent Energy by 48.3% in the 4th quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock valued at $73,000 after buying an additional 1,621 shares in the last quarter. Zacks Investment Management purchased a new stake in Crescent Energy in the 3rd quarter valued at $121,000. Finally, Toth Financial Advisory Corp purchased a new stake in Crescent Energy in the 4th quarter valued at $131,000. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

Crescent Energy Price Performance

CRGY opened at $12.62 on Friday. The stock’s 50-day moving average price is $15.06 and its 200 day moving average price is $13.51. Crescent Energy has a 12-month low of $9.88 and a 12-month high of $16.94. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 20.35 and a beta of 2.16.

Crescent Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend is Wednesday, March 12th. Crescent Energy’s payout ratio is 77.42%.

Analyst Ratings Changes

CRGY has been the subject of several analyst reports. Raymond James upped their target price on Crescent Energy from $22.00 to $23.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Siebert Williams Shank initiated coverage on Crescent Energy in a report on Monday, February 3rd. They issued a “buy” rating for the company. Mizuho upped their price target on Crescent Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Finally, Truist Financial upped their price target on Crescent Energy from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $17.50.

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.