Moody National Bank Trust Division Buys Shares of 64,906 Crescent Energy (NYSE:CRGY)

Moody National Bank Trust Division acquired a new position in Crescent Energy (NYSE:CRGY) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 64,906 shares of the company’s stock, valued at approximately $769,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Boston Partners purchased a new stake in shares of Crescent Energy during the first quarter worth $630,000. Cetera Advisors LLC acquired a new stake in Crescent Energy during the first quarter worth about $336,000. Cetera Investment Advisers boosted its holdings in Crescent Energy by 646.0% during the first quarter. Cetera Investment Advisers now owns 215,947 shares of the company’s stock valued at $2,570,000 after purchasing an additional 187,001 shares in the last quarter. Virtu Financial LLC acquired a new stake in Crescent Energy during the first quarter valued at approximately $179,000. Finally, Yaupon Capital Management LP bought a new position in shares of Crescent Energy in the first quarter valued at approximately $10,710,000. Institutional investors own 52.11% of the company’s stock.

Crescent Energy Price Performance

NYSE:CRGY traded down $0.62 during mid-day trading on Monday, hitting $10.20. 5,203,843 shares of the stock traded hands, compared to its average volume of 2,008,357. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88. Crescent Energy has a 12-month low of $9.88 and a 12-month high of $14.22. The company has a market cap of $1.81 billion, a PE ratio of -50.98 and a beta of 2.32. The business’s 50-day moving average price is $12.06 and its 200 day moving average price is $11.59.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.28. The company had revenue of $657.47 million during the quarter, compared to analyst estimates of $579.44 million. Crescent Energy had a negative net margin of 0.67% and a positive return on equity of 12.90%. On average, analysts expect that Crescent Energy will post 1.53 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wolfe Research assumed coverage on shares of Crescent Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $16.00 price objective for the company. KeyCorp assumed coverage on shares of Crescent Energy in a report on Thursday, June 27th. They issued an “overweight” rating and a $16.00 price target for the company. Tudor, Pickering, Holt & Co. assumed coverage on shares of Crescent Energy in a research note on Wednesday, April 10th. They issued a “buy” rating and a $18.00 target price for the company. Wells Fargo & Company upped their target price on shares of Crescent Energy from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Finally, Truist Financial cut their price target on shares of Crescent Energy from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $16.40.

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.