Envestnet Portfolio Solutions Inc. Makes New $548,000 Investment in Crescent Energy Company $CRGY

Envestnet Portfolio Solutions Inc. acquired a new stake in Crescent Energy Company (NYSE:CRGY) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 61,461 shares of the company’s stock, valued at approximately $548,000.

A number of other institutional investors have also recently made changes to their positions in the business. Peregrine Capital Management LLC grew its position in shares of Crescent Energy by 10.4% during the second quarter. Peregrine Capital Management LLC now owns 440,947 shares of the company’s stock worth $3,792,000 after buying an additional 41,423 shares in the last quarter. Bryce Point Capital LLC lifted its stake in Crescent Energy by 715.6% in the second quarter. Bryce Point Capital LLC now owns 83,927 shares of the company’s stock worth $722,000 after acquiring an additional 73,637 shares during the last quarter. DAVENPORT & Co LLC grew its holdings in Crescent Energy by 58.0% during the 2nd quarter. DAVENPORT & Co LLC now owns 109,000 shares of the company’s stock worth $937,000 after acquiring an additional 40,000 shares in the last quarter. CWM LLC grew its holdings in Crescent Energy by 1,362.5% during the 2nd quarter. CWM LLC now owns 33,974 shares of the company’s stock worth $292,000 after acquiring an additional 31,651 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd increased its position in shares of Crescent Energy by 208.0% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 60,849 shares of the company’s stock valued at $523,000 after purchasing an additional 41,091 shares during the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.

Crescent Energy Price Performance

Shares of CRGY opened at $9.76 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.81 and a quick ratio of 0.81. Crescent Energy Company has a 1-year low of $6.83 and a 1-year high of $15.58. The stock has a market cap of $2.49 billion, a PE ratio of -65.07 and a beta of 1.73. The firm has a fifty day moving average price of $8.79 and a 200 day moving average price of $8.87.

Crescent Energy (NYSE:CRGY) last announced its earnings results on Monday, November 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The firm had revenue of $866.58 million during the quarter, compared to analysts’ expectations of $887.54 million. Crescent Energy had a return on equity of 11.77% and a net margin of 0.66%. As a group, sell-side analysts anticipate that Crescent Energy Company will post 0.77 EPS for the current year.

Crescent Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were given a dividend of $0.12 per share. The ex-dividend date was Monday, November 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.9%. Crescent Energy’s dividend payout ratio (DPR) is -320.00%.

Analyst Ratings Changes

Several research firms have recently issued reports on CRGY. Wells Fargo & Company decreased their price objective on shares of Crescent Energy from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday. Wall Street Zen cut Crescent Energy from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Mizuho lifted their price target on Crescent Energy from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Crescent Energy in a research report on Wednesday, October 8th. Finally, Zacks Research raised Crescent Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Crescent Energy presently has a consensus rating of “Hold” and a consensus target price of $13.27.

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.