Meeder Asset Management Inc. Takes Position in Crescent Energy (NYSE:CRGY)

Meeder Asset Management Inc. bought a new position in shares of Crescent Energy (NYSE:CRGY) during the third quarter, Holdings Channel.com reports. The fund bought 14,686 shares of the company’s stock, valued at approximately $161,000.

Several other hedge funds have also recently added to or reduced their stakes in CRGY. CWM LLC increased its holdings in Crescent Energy by 618.9% in the second quarter. CWM LLC now owns 2,128 shares of the company’s stock valued at $25,000 after buying an additional 1,832 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Crescent Energy in the 2nd quarter valued at about $32,000. Farther Finance Advisors LLC lifted its stake in Crescent Energy by 15,675.0% during the third quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock worth $35,000 after purchasing an additional 3,135 shares during the last quarter. Spirit of America Management Corp NY acquired a new position in Crescent Energy in the second quarter valued at approximately $36,000. Finally, Amalgamated Bank increased its stake in 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 last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on CRGY shares. JPMorgan Chase & Co. initiated coverage on shares of Crescent Energy in a research report on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 target price on the stock. Wells Fargo & Company cut their target price on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Truist Financial decreased their target price on Crescent Energy from $19.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Mizuho lifted their price target on Crescent Energy from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, Pickering Energy Partners assumed coverage on Crescent Energy in a report on Monday, October 28th. They issued an “outperform” rating for the company. Two 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $15.80.

Crescent Energy Price Performance

Crescent Energy stock opened at $14.32 on Wednesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. The business has a 50 day simple moving average of $12.40 and a 200-day simple moving average of $12.01. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $14.32. The stock has a market capitalization of $3.27 billion, a PE ratio of 23.09 and a beta of 2.19.

Crescent Energy (NYSE:CRGY) last released its earnings results on Monday, November 4th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.28 by $0.11. The company had revenue of $744.87 million during the quarter, compared to analysts’ expectations of $793.88 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. During the same quarter last year, the business earned $0.35 EPS. Equities analysts predict that Crescent Energy will post 0.97 earnings per share for the current year.

Crescent Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Monday, November 18th. Crescent Energy’s dividend payout ratio is presently 77.42%.

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.