Aventail Capital Group LP Has $8.90 Million Stock Position in Crescent Energy Company $CRGY

Aventail Capital Group LP reduced its holdings in shares of Crescent Energy Company (NYSE:CRGY) by 50.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 997,750 shares of the company’s stock after selling 1,000,000 shares during the quarter. Aventail Capital Group LP owned approximately 0.39% of Crescent Energy worth $8,900,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CRGY. Caitlin John LLC acquired a new position in Crescent Energy during the third quarter worth $27,000. Nisa Investment Advisors LLC increased its stake in Crescent Energy by 50.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company’s stock valued at $33,000 after buying an additional 1,241 shares during the last quarter. Osaic Holdings Inc. increased its stake in Crescent Energy by 25.2% in the 2nd quarter. Osaic Holdings Inc. now owns 5,301 shares of the company’s stock valued at $46,000 after buying an additional 1,066 shares during the last quarter. Hantz Financial Services Inc. lifted its position in Crescent Energy by 135.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 6,018 shares of the company’s stock worth $54,000 after buying an additional 3,466 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in Crescent Energy by 1,227.9% during the 2nd quarter. NewEdge Advisors LLC now owns 11,951 shares of the company’s stock worth $103,000 after buying an additional 11,051 shares in the last quarter. Institutional investors own 52.11% of the company’s stock.

Wall Street Analysts Forecast Growth

CRGY has been the subject of several analyst reports. William Blair restated an “outperform” rating on shares of Crescent Energy in a report on Friday, March 6th. BMO Capital Markets initiated coverage on Crescent Energy in a report on Friday, January 9th. They set a “market perform” rating and a $10.00 target price on the stock. Mizuho increased their price target on Crescent Energy from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Weiss Ratings upgraded Crescent Energy from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, February 27th. Finally, Piper Sandler boosted their price target on Crescent Energy from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Crescent Energy presently has an average rating of “Moderate Buy” and an average target price of $13.00.

Crescent Energy Stock Performance

Shares of CRGY opened at $12.00 on Friday. The firm has a 50-day moving average of $9.89 and a 200-day moving average of $9.21. Crescent Energy Company has a one year low of $6.83 and a one year high of $12.40. The company has a market cap of $3.93 billion, a PE ratio of 23.07 and a beta of 1.57. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.48 and a quick ratio of 1.48.

Crescent Energy (NYSE:CRGY) last issued its earnings results on Wednesday, February 25th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.19. Crescent Energy had a net margin of 3.71% and a return on equity of 8.36%. The company had revenue of $865.05 million for the quarter, compared to analysts’ expectations of $884.64 million. As a group, equities analysts forecast that Crescent Energy Company will post 0.77 earnings per share for the current year.

Crescent Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Wednesday, March 11th. Crescent Energy’s payout ratio is 92.31%.

Crescent Energy 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.