175,000 Shares in Crescent Energy Company $CRGY Bought by CM Management LLC

Key Points

• CM Management LLC acquired a new stake of 175,000 shares in Crescent Energy (NYSE:CRGY) in Q3, valued at about $1.56 million; the stake represents roughly 0.07% ownership of the company and is CM's 27th largest position (about 1.3% of its holdings).
• Other institutions boosted exposure—Dimensional Fund Advisors now owns ~10.66 million shares (~$95.08M) and American Century holds ~19.36 million shares—bringing total institutional ownership to about 52.11% of CRGY.
• Crescent beat Q earnings estimates with $0.49 EPS, announced a quarterly dividend of $0.12 (4.1% yield) with a 92.31% payout ratio, and carries a consensus analyst rating of "Moderate Buy" with a $12.67 target.

CM Management LLC acquired a new stake in shares of Crescent Energy Company (NYSE:CRGY - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 175,000 shares of the company's stock, valued at approximately $1,561,000. Crescent Energy accounts for approximately 1.3% of CM Management LLC's holdings, making the stock its 27th largest position. CM Management LLC owned approximately 0.07% of Crescent Energy as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its holdings in shares of Crescent Energy by 13.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 10,658,863 shares of the company's stock valued at $95,080,000 after acquiring an additional 1,243,702 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Crescent Energy by 53.2% during the 3rd quarter. Victory Capital Management Inc. now owns 1,119,187 shares of the company's stock valued at $9,983,000 after acquiring an additional 388,604 shares during the last quarter. Royce & Associates LP grew its holdings in shares of Crescent Energy by 1.1% during the third quarter. Royce & Associates LP now owns 161,120 shares of the company's stock worth $1,437,000 after purchasing an additional 1,778 shares in the last quarter. Rafferty Asset Management LLC increased its position in shares of Crescent Energy by 33.0% in the third quarter. Rafferty Asset Management LLC now owns 306,059 shares of the company's stock worth $2,730,000 after purchasing an additional 75,995 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Crescent Energy by 8.0% in the third quarter. American Century Companies Inc. now owns 19,363,386 shares of the company's stock worth $172,721,000 after purchasing an additional 1,434,789 shares during the last quarter. 52.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CRGY shares. Piper Sandler raised their target price on shares of Crescent Energy from $13.00 to $14.00 and gave the company an "overweight" rating in a research note on Thursday. Weiss Ratings raised shares of Crescent Energy from a "sell (d+)" rating to a "hold (c)" rating in a report on Friday, February 27th. Wall Street Zen cut shares of Crescent Energy from a "buy" rating to a "hold" rating in a research report on Saturday, November 8th. William Blair reaffirmed an "outperform" rating on shares of Crescent Energy in a report on Friday. Finally, Zacks Research upgraded shares of Crescent Energy from a "strong sell" rating to a "hold" rating in a research report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $12.67.

Crescent Energy Stock Performance

Shares of NYSE CRGY opened at $11.77 on Friday. The stock's 50-day moving average is $9.54 and its 200 day moving average is $9.12. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 22.63 and a beta of 1.57. Crescent Energy Company has a 1-year low of $6.83 and a 1-year high of $12.40. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.07.

Crescent Energy (NYSE:CRGY - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.19. The business had revenue of $865.05 million for the quarter, compared to analysts' expectations of $884.64 million. Crescent Energy had a net margin of 3.71% and a return on equity of 8.36%. On average, sell-side analysts anticipate that Crescent Energy Company will post 0.77 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.48 annualized dividend and a dividend yield of 4.1%. Crescent Energy's dividend payout ratio (DPR) is currently 92.31%.

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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