Intech Investment Management LLC Increases Stake in Crescent Energy Company $CRGY

Intech Investment Management LLC increased its stake in Crescent Energy Company (NYSE:CRGY) by 7.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 89,935 shares of the company’s stock after acquiring an additional 6,115 shares during the period. Intech Investment Management LLC’s holdings in Crescent Energy were worth $773,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CRGY. Nuveen LLC purchased a new position in Crescent Energy during the first quarter worth approximately $21,782,000. Alyeska Investment Group L.P. increased its holdings in shares of Crescent Energy by 452.3% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,585,185 shares of the company’s stock worth $17,817,000 after buying an additional 1,298,155 shares during the last quarter. American Century Companies Inc. raised its position in shares of Crescent Energy by 10.0% in the 1st quarter. American Century Companies Inc. now owns 13,967,599 shares of the company’s stock worth $156,996,000 after buying an additional 1,266,674 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Crescent Energy by 42.0% in the first quarter. Goldman Sachs Group Inc. now owns 3,969,411 shares of the company’s stock valued at $44,616,000 after acquiring an additional 1,174,576 shares during the last quarter. Finally, HITE Hedge Asset Management LLC purchased a new stake in Crescent Energy during the first quarter valued at about $10,087,000. Institutional investors and hedge funds own 52.11% of the company’s stock.

Crescent Energy Trading Up 0.8%

NYSE CRGY opened at $9.27 on Thursday. The company’s fifty day simple moving average is $8.75 and its 200-day simple moving average is $8.96. The stock has a market cap of $2.36 billion, a P/E ratio of -51.49 and a beta of 1.85. Crescent Energy Company has a 52 week low of $6.83 and a 52 week high of $16.94. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.75.

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, topping analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $866.58 million for the quarter, compared to analyst estimates of $887.54 million. Crescent Energy had a return on equity of 13.35% and a net margin of 0.67%. Equities research analysts predict that Crescent Energy Company will post 0.77 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Monday, November 17th. Crescent Energy’s dividend payout ratio is -320.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CRGY shares. Mizuho set a $11.00 price objective on Crescent Energy in a report on Tuesday, November 4th. Wall Street Zen downgraded shares of Crescent Energy from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Wells Fargo & Company cut their price target on shares of Crescent Energy from $20.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, October 17th. Raymond James Financial set a $17.00 price objective on shares of Crescent Energy and gave the stock a “strong-buy” rating in a research note on Wednesday, August 27th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Crescent Energy in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.11.

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.