Landscape Capital Management L.L.C. Invests $155,000 in Crescent Energy (NYSE:CRGY)

Landscape Capital Management L.L.C. purchased a new position in Crescent Energy (NYSE:CRGY) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,128 shares of the company’s stock, valued at approximately $155,000.

Other hedge funds have also made changes to their positions in the company. Moody National Bank Trust Division purchased a new stake in shares of Crescent Energy in the second quarter worth approximately $769,000. Interval Partners LP purchased a new stake in shares of Crescent Energy in the second quarter worth approximately $1,835,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Crescent Energy in the second quarter worth approximately $3,496,000. Empowered Funds LLC lifted its position in shares of Crescent Energy by 11.4% in the third quarter. Empowered Funds LLC now owns 925,301 shares of the company’s stock worth $10,132,000 after purchasing an additional 94,948 shares in the last quarter. Finally, Boston Partners purchased a new stake in shares of Crescent Energy in the first quarter worth approximately $630,000. 52.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on CRGY shares. Evercore ISI reaffirmed an “outperform” rating and set a $17.00 price objective on shares of Crescent Energy in a research report on Tuesday, September 24th. Wells Fargo & Company cut their price objective on shares of 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 cut their price objective on shares of Crescent Energy from $19.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Pickering Energy Partners started coverage on shares of Crescent Energy in a research report on Monday, October 28th. They set an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. started coverage on shares of Crescent Energy in a research report on Wednesday, September 18th. They set a “neutral” rating and a $12.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Crescent Energy presently has a consensus rating of “Buy” and an average target price of $16.30.

Crescent Energy Trading Down 2.8 %

Shares of Crescent Energy stock opened at $14.85 on Tuesday. The company’s fifty day simple moving average is $12.76 and its 200-day simple moving average is $12.10. The company has a market cap of $3.39 billion, a price-to-earnings ratio of 23.95 and a beta of 2.19. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. Crescent Energy has a 1 year low of $9.88 and a 1 year high of $15.54.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.11. The business had revenue of $744.87 million for the quarter, compared to the consensus estimate 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 company posted $0.35 earnings per share. As a group, sell-side analysts expect that Crescent Energy will post 0.97 EPS for the current year.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $0.12 dividend. The ex-dividend date is Monday, November 18th. This represents a $0.48 annualized dividend and a dividend yield of 3.23%. Crescent Energy’s payout ratio is 77.42%.

About Crescent Energy

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.