Mraz Amerine & Associates Inc. Has $1.75 Million Stock Holdings in Crescent Energy (NYSE:CRGY)

Mraz Amerine & Associates Inc. lowered its position in Crescent Energy (NYSE:CRGY) by 1.2% in the third quarter, Holdings Channel.com reports. The fund owned 159,827 shares of the company’s stock after selling 1,996 shares during the period. Mraz Amerine & Associates Inc.’s holdings in Crescent Energy were worth $1,750,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. CWM LLC grew its holdings in Crescent Energy by 618.9% during the 2nd quarter. CWM LLC now owns 2,128 shares of the company’s stock worth $25,000 after acquiring an additional 1,832 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Crescent Energy in the second quarter valued at about $32,000. Spirit of America Management Corp NY acquired a new stake in Crescent Energy in the second quarter worth about $36,000. Equitec Proprietary Markets LLC acquired a new stake in Crescent Energy in the second quarter worth about $107,000. Finally, Principal Financial Group Inc. bought a new stake in Crescent Energy during the 2nd quarter worth about $125,000. Institutional investors and hedge funds own 52.11% of the company’s stock.

Crescent Energy Stock Performance

Shares of CRGY opened at $12.40 on Friday. Crescent Energy has a 52 week low of $9.88 and a 52 week high of $13.85. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.87 and a current ratio of 1.87. The firm has a market capitalization of $2.20 billion, a P/E ratio of -61.98 and a beta of 2.19. The stock has a 50 day moving average price of $11.69 and a two-hundred day moving average price of $11.74.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.05. The business had revenue of $653.28 million during the quarter, compared to analyst estimates of $619.00 million. Crescent Energy had a return on equity of 13.41% and a net margin of 0.61%. Equities analysts forecast that Crescent Energy will post 1.28 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were issued a $0.12 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.48 annualized dividend and a dividend yield of 3.87%. Crescent Energy’s payout ratio is currently -240.00%.

Insider Transactions at Crescent Energy

In other Crescent Energy news, Director Michael Duginski purchased 9,344 shares of the stock in a transaction on Thursday, August 8th. The stock was acquired at an average cost of $10.62 per share, with a total value of $99,233.28. Following the completion of the purchase, the director now directly owns 201,081 shares of the company’s stock, valued at approximately $2,135,480.22. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have purchased 12,294 shares of company stock valued at $131,297 in the last quarter. Insiders own 13.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CRGY shares. JPMorgan Chase & Co. assumed coverage on Crescent Energy in a research note on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 price target on the stock. Stephens reiterated an “overweight” rating and set a $20.00 target price on shares of Crescent Energy in a report on Tuesday, August 6th. Truist Financial cut their target price on Crescent Energy from $19.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Evercore ISI reiterated an “outperform” rating and issued a $17.00 price objective on shares of Crescent Energy in a report on Tuesday, September 24th. Finally, Mizuho reduced their target price on shares of Crescent Energy from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $16.10.

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.