Van Den Berg Management I Inc. lifted its position in shares of Crescent Energy Company (NYSE:CRGY – Free Report) by 63.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 218,153 shares of the company’s stock after buying an additional 85,073 shares during the quarter. Van Den Berg Management I Inc. owned approximately 0.09% of Crescent Energy worth $1,830,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Caitlin John LLC acquired a new position in shares of Crescent Energy during the 3rd quarter worth $27,000. Fifth Third Bancorp raised its stake in shares of Crescent Energy by 109.3% during the 4th quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock worth $33,000 after buying an additional 2,039 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Crescent Energy by 134.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock worth $33,000 after buying an additional 2,286 shares during the last quarter. Quarry LP raised its stake in shares of Crescent Energy by 303.5% during the 3rd quarter. Quarry LP now owns 4,152 shares of the company’s stock worth $37,000 after buying an additional 3,123 shares during the last quarter. Finally, Allworth Financial LP raised its stake in shares of Crescent Energy by 42.3% during the 4th quarter. Allworth Financial LP now owns 4,712 shares of the company’s stock worth $40,000 after buying an additional 1,401 shares during the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.
Analysts Set New Price Targets
Several brokerages recently weighed in on CRGY. William Blair reissued an “outperform” rating on shares of Crescent Energy in a research note on Friday, March 6th. Weiss Ratings cut Crescent Energy from a “hold (c)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Mizuho upped their price target on Crescent Energy from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Wells Fargo & Company upped their price target on Crescent Energy from $14.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Finally, Wall Street Zen upgraded Crescent Energy from a “hold” rating to a “buy” rating in a report on Sunday, May 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.00.
Crescent Energy Stock Performance
Shares of CRGY opened at $10.83 on Wednesday. The business’s 50 day moving average is $12.50 and its two-hundred day moving average is $10.95. Crescent Energy Company has a 52-week low of $7.68 and a 52-week high of $14.29. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of -14.44 and a beta of 1.37. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.12.
Crescent Energy (NYSE:CRGY – Get Free Report) last announced its earnings results on Monday, May 4th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.14. Crescent Energy had a positive return on equity of 8.10% and a negative net margin of 7.47%.The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the company posted $0.57 EPS. Crescent Energy’s quarterly revenue was up 24.5% on a year-over-year basis. Analysts forecast that Crescent Energy Company will post 1.99 EPS for the current fiscal year.
Crescent Energy Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, May 18th. Crescent Energy’s dividend payout ratio is presently -64.00%.
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.
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