Janney Montgomery Scott LLC Trims Stock Position in Crescent Energy Company $CRGY

Janney Montgomery Scott LLC trimmed its holdings in shares of Crescent Energy Company (NYSE:CRGY) by 31.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,875 shares of the company’s stock after selling 99,679 shares during the period. Janney Montgomery Scott LLC’s holdings in Crescent Energy were worth $2,928,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Montgomery Investment Management Inc. grew its holdings in Crescent Energy by 17.5% during the 1st quarter. Montgomery Investment Management Inc. now owns 33,596 shares of the company’s stock valued at $454,000 after buying an additional 5,000 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Crescent Energy by 4.5% in the first quarter. Pictet Asset Management Holding SA now owns 38,292 shares of the company’s stock valued at $517,000 after acquiring an additional 1,638 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Crescent Energy during the first quarter valued at $1,455,000. SG Americas Securities LLC boosted its stake in shares of Crescent Energy by 25.2% during the first quarter. SG Americas Securities LLC now owns 76,290 shares of the company’s stock valued at $1,030,000 after acquiring an additional 15,333 shares during the last quarter. Finally, Redstone Wealth Management LLC purchased a new stake in Crescent Energy during the 1st quarter worth about $164,000. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CRGY shares. JPMorgan Chase & Co. upgraded shares of Crescent Energy from a “neutral” rating to an “overweight” rating and set a $19.00 target price on the stock in a report on Friday, March 20th. Wall Street Zen downgraded shares of Crescent Energy from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Raymond James Financial cut their price objective on shares of Crescent Energy from $20.00 to $18.00 and set a “strong-buy” rating for the company in a research report on Thursday, June 18th. Wells Fargo & Company raised their target price on shares of Crescent Energy from $14.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Finally, Mizuho lifted their target price on shares of Crescent Energy from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Crescent Energy currently has an average rating of “Moderate Buy” and a consensus price target of $15.82.

Crescent Energy Stock Up 3.1%

Shares of NYSE:CRGY opened at $9.43 on Wednesday. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.12. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of -12.57 and a beta of 1.40. The stock’s 50-day moving average price is $11.71 and its two-hundred day moving average price is $11.01. Crescent Energy Company has a 12-month low of $7.68 and a 12-month high of $14.29.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.14. Crescent Energy had a negative net margin of 7.47% and a positive return on equity of 8.10%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the company posted $0.57 EPS. The company’s quarterly revenue was up 24.5% compared to the same quarter last year. On average, research analysts forecast that Crescent Energy Company will post 1.98 EPS for the current year.

Crescent Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.48 annualized dividend and a yield of 5.1%. Crescent Energy’s dividend payout ratio is -64.00%.

Crescent Energy Company Profile

Crescent Energy Co (NYSE: CRGY) is an independent exploration and production company focused on the acquisition, development and production of oil and natural gas resources in North America. Headquartered in Oklahoma City, the company’s core business activities include the identification and appraisal of prospective acreage, the design and execution of drilling and completion programs, and the ongoing operation and optimization of producing wells. Crescent Energy’s integrated approach emphasizes capital efficiency, reservoir quality and operational reliability to support sustainable cash flow generation over the commodity cycle.

Crescent Energy’s operations are concentrated in the Permian Basin, with a particular focus on the Delaware Basin’s stacked pay intervals.