California State Teachers Retirement System lifted its stake in shares of Crescent Energy Company (NYSE:CRGY – Free Report) by 24.5% during the first quarter, Holdings Channel reports. The fund owned 289,558 shares of the company’s stock after purchasing an additional 57,064 shares during the quarter. California State Teachers Retirement System’s holdings in Crescent Energy were worth $3,909,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Osaic Holdings Inc. lifted its holdings in Crescent Energy by 25.2% in the 2nd quarter. Osaic Holdings Inc. now owns 5,301 shares of the company’s stock valued at $46,000 after purchasing an additional 1,066 shares in the last quarter. First Citizens Bank & Trust Co. boosted its stake in shares of Crescent Energy by 1.8% during the 4th quarter. First Citizens Bank & Trust Co. now owns 65,241 shares of the company’s stock worth $547,000 after purchasing an additional 1,152 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Crescent Energy by 2.0% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 62,706 shares of the company’s stock worth $526,000 after purchasing an additional 1,245 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Crescent Energy by 8.9% during the first quarter. AQR Capital Management LLC now owns 17,104 shares of the company’s stock worth $192,000 after buying an additional 1,397 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Crescent Energy by 42.3% during the fourth quarter. Allworth Financial LP now owns 4,712 shares of the company’s stock worth $40,000 after buying an additional 1,401 shares in the last quarter. Hedge funds and other institutional investors own 52.11% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently issued reports on the stock. Wall Street Zen raised shares of Crescent Energy from a “hold” rating to a “buy” rating in a research note on Saturday. Morgan Stanley lowered shares of Crescent Energy to an “underweight” rating in a research report on Monday, August 3rd. KeyCorp reaffirmed an “overweight” rating and issued a $19.00 target price on shares of Crescent Energy in a research note on Thursday, June 11th. Zacks Research downgraded Crescent Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $19.00 price target on shares of Crescent Energy in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.83.
Crescent Energy Stock Up 2.3%
CRGY opened at $11.59 on Friday. Crescent Energy Company has a 12 month low of $7.68 and a 12 month high of $14.29. The business has a 50-day moving average of $10.72 and a two-hundred day moving average of $11.39. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.94 and a quick ratio of 0.57. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of -231.65 and a beta of 1.41.
Crescent Energy (NYSE:CRGY – Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.10. Crescent Energy had a net margin of 1.27% and a return on equity of 10.52%. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.26 billion. Crescent Energy’s revenue was up 55.3% on a year-over-year basis. On average, research analysts expect that Crescent Energy Company will post 2.07 earnings per share for the current year.
Crescent Energy Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $0.48 annualized dividend and a yield of 4.1%. Crescent Energy’s dividend payout ratio is -960.00%.
Crescent Energy 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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