Innealta Capital LLC Grows Stock Holdings in Crescent Energy Company (NYSE:CRGY)

Innealta Capital LLC grew its stake in shares of Crescent Energy Company (NYSE:CRGY) by 47.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,908 shares of the company’s stock after buying an additional 4,798 shares during the quarter. Innealta Capital LLC’s holdings in Crescent Energy were worth $168,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CRGY. New York State Teachers Retirement System bought a new position in shares of Crescent Energy during the fourth quarter valued at about $798,000. Rhumbline Advisers grew its stake in shares of Crescent Energy by 126.2% during the fourth quarter. Rhumbline Advisers now owns 485,475 shares of the company’s stock valued at $7,093,000 after buying an additional 270,859 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Crescent Energy by 7,793.7% during the fourth quarter. Principal Financial Group Inc. now owns 847,549 shares of the company’s stock valued at $12,383,000 after buying an additional 836,812 shares during the last quarter. CIBC Asset Management Inc bought a new position in shares of Crescent Energy during the fourth quarter valued at about $248,000. Finally, Olympiad Research LP bought a new position in shares of Crescent Energy during the fourth quarter valued at about $174,000. 52.11% of the stock is owned by institutional investors.

Crescent Energy Stock Down 0.3%

NYSE CRGY opened at $9.49 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market capitalization of $2.42 billion, a PE ratio of -21.08 and a beta of 1.75. Crescent Energy Company has a 1 year low of $6.83 and a 1 year high of $16.94. The business’s 50-day moving average is $8.76 and its 200 day moving average is $11.73.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.09. The business had revenue of $950.17 million for the quarter, compared to analysts’ expectations of $937.55 million. Crescent Energy had a positive return on equity of 14.21% and a negative net margin of 2.88%. Sell-side analysts forecast that Crescent Energy Company will post 0.77 earnings per share for the current year.

Crescent Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a dividend of $0.12 per share. The ex-dividend date was Monday, May 19th. This represents a $0.48 annualized dividend and a yield of 5.06%. Crescent Energy’s payout ratio is -106.67%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CRGY shares. Mizuho reduced their price objective on Crescent Energy from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. KeyCorp reduced their price objective on Crescent Energy from $18.00 to $14.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Williams Trading set a $16.00 price objective on Crescent Energy in a research note on Wednesday, March 5th. 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 note on Monday, June 16th. Finally, JPMorgan Chase & Co. cut their target price on Crescent Energy from $18.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

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.