Crescent Energy Company $CRGY Stock Holdings Lifted by NewEdge Advisors LLC

Key Points

• NewEdge Advisors increased its Crescent Energy stake by 235.7% in the first quarter, bringing its holdings to 144,268 shares valued at approximately $1.95 million. Institutional investors collectively own 52.11% of the company.
• Crescent Energy reported quarterly earnings of $0.69 per share, exceeding the $0.59 analyst consensus, while revenue rose 55.3% year over year to $1.39 billion.
• The company declared a quarterly dividend of $0.12 per share, equal to an annualized $0.48 and a 3.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $16.33, compared with a recent share price of $12.20.

NewEdge Advisors LLC increased its holdings in Crescent Energy Company (NYSE:CRGY - Free Report) by 235.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 144,268 shares of the company's stock after buying an additional 101,298 shares during the period. NewEdge Advisors LLC's holdings in Crescent Energy were worth $1,948,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. First Trust Advisors LP lifted its holdings in shares of Crescent Energy by 29.0% in the 1st quarter. First Trust Advisors LP now owns 1,542,176 shares of the company's stock worth $20,819,000 after purchasing an additional 346,242 shares during the last quarter. Kohlberg Kravis Roberts & Co. L.P. increased its position in Crescent Energy by 7.1% in the first quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 28,655,357 shares of the company's stock worth $386,847,000 after buying an additional 1,897,230 shares during the period. Jennison Associates LLC lifted its stake in Crescent Energy by 74.1% in the first quarter. Jennison Associates LLC now owns 4,254,407 shares of the company's stock valued at $57,435,000 after buying an additional 1,810,225 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in Crescent Energy in the fourth quarter valued at $860,000. Finally, Legal & General Group Plc boosted its holdings in shares of Crescent Energy by 27.5% during the fourth quarter. Legal & General Group Plc now owns 585,827 shares of the company's stock valued at $4,915,000 after acquiring an additional 126,330 shares during the period. Institutional investors own 52.11% of the company's stock.

Crescent Energy Trading Up 2.5%

NYSE:CRGY opened at $12.20 on Friday. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of -243.85 and a beta of 1.41. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.94 and a current ratio of 0.94. Crescent Energy Company has a 1 year low of $7.68 and a 1 year high of $14.29. The business has a fifty day moving average of $10.74 and a 200-day moving average of $11.51.

Crescent Energy (NYSE:CRGY - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.10. The business had revenue of $1.39 billion for the quarter, compared to analysts' expectations of $1.26 billion. Crescent Energy had a net margin of 1.27% and a return on equity of 10.52%. The firm's quarterly revenue was up 55.3% on a year-over-year basis. Equities analysts predict that Crescent Energy Company will post 2.07 earnings per share for the current year.

Crescent Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Monday, August 17th. Crescent Energy's payout ratio is -960.00%.

Analyst Ratings Changes

Several equities analysts have recently commented on CRGY shares. Zacks Research lowered shares of Crescent Energy from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 29th. Weiss Ratings reiterated a "sell (d)" rating on shares of Crescent Energy in a research report on Monday, August 3rd. Wells Fargo & Company boosted their target price on shares of Crescent Energy from $18.00 to $24.00 and gave the company an "overweight" rating in a research note on Thursday. KeyCorp restated an "overweight" rating and issued a $19.00 target price on shares of Crescent Energy in a research report on Thursday, June 11th. Finally, Mizuho lifted their price target on Crescent Energy from $15.00 to $16.00 and gave the company a "neutral" rating in a report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Crescent Energy currently has an average rating of "Moderate Buy" and a consensus target price of $16.33.

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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