Crescent Energy (NYSE:CRGY) Shares Bought by Hotchkis & Wiley Capital Management LLC

Hotchkis & Wiley Capital Management LLC increased its stake in shares of Crescent Energy (NYSE:CRGY) by 77.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 3,029,818 shares of the company’s stock after buying an additional 1,324,328 shares during the quarter. Hotchkis & Wiley Capital Management LLC’s holdings in Crescent Energy were worth $33,177,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. CWM LLC increased its position in Crescent Energy by 618.9% during the second quarter. CWM LLC now owns 2,128 shares of the company’s stock worth $25,000 after purchasing an additional 1,832 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Crescent Energy during the second quarter worth $32,000. Farther Finance Advisors LLC boosted its stake in Crescent Energy by 15,675.0% in the third quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock valued at $35,000 after acquiring an additional 3,135 shares during the period. Spirit of America Management Corp NY acquired a new stake in Crescent Energy in the second quarter worth $36,000. Finally, Amalgamated Bank increased its stake in shares of Crescent Energy by 86.4% in the third quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock valued at $54,000 after purchasing an additional 2,272 shares during the period. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

Crescent Energy Stock Up 2.1 %

Shares of NYSE CRGY opened at $15.15 on Wednesday. The business has a fifty day moving average of $13.11 and a two-hundred day moving average of $12.19. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. Crescent Energy has a 52-week low of $9.88 and a 52-week high of $15.54. The stock has a market cap of $3.46 billion, a PE ratio of 24.43 and a beta of 2.17.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings results on Monday, November 4th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.11. The firm had revenue of $744.87 million for the quarter, compared to analyst estimates of $793.88 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. During the same period in the previous year, the business earned $0.35 earnings per share. As a group, equities research analysts expect that Crescent Energy will post 0.97 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, December 2nd. Investors of record on Monday, November 18th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.48 dividend on an annualized basis and a yield of 3.17%. Crescent Energy’s dividend payout ratio is 77.42%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Evercore ISI reissued an “outperform” rating and set a $17.00 target price on shares of Crescent Energy in a report on Tuesday, September 24th. Truist Financial reduced their target price on Crescent Energy from $19.00 to $15.00 and set a “buy” rating for the company in a report on Monday, September 30th. Mizuho raised their price target on shares of Crescent Energy from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Wells Fargo & Company lowered their target price on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Finally, Raymond James increased their price target on shares of Crescent Energy from $19.00 to $20.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 21st. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Crescent Energy presently has an average rating of “Buy” and a consensus price target of $16.30.

Crescent Energy 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.