Crescent Energy Company (NYSE:CRGY) Shares Acquired by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP increased its stake in Crescent Energy Company by 164.8%, acquiring an additional 55,217 shares, bringing its total holdings to 88,721 shares worth approximately $997,000.
• Research firms have responded positively to Crescent Energy's performance, with Wall Street Zen upgrading the stock from "hold" to "buy," while several other analysts have adjusted their price targets, with a consensus target now at $16.10.
• Crescent Energy reported a quarterly earnings per share of $0.43, exceeding expectations, and also announced a $0.12 per share dividend set to be paid on September 2nd, reflecting a yield of 5.2%.

Aigen Investment Management LP lifted its stake in shares of Crescent Energy Company (NYSE:CRGY - Free Report) by 164.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 88,721 shares of the company's stock after purchasing an additional 55,217 shares during the quarter. Aigen Investment Management LP's holdings in Crescent Energy were worth $997,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allworth Financial LP acquired a new stake in shares of Crescent Energy during the 1st quarter worth approximately $34,000. Public Employees Retirement System of Ohio raised its position in shares of Crescent Energy by 35.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company's stock worth $40,000 after purchasing an additional 705 shares during the period. Quarry LP increased its holdings in shares of Crescent Energy by 263.4% in the 4th quarter. Quarry LP now owns 4,353 shares of the company's stock worth $64,000 after acquiring an additional 3,155 shares during the period. KBC Group NV acquired a new stake in shares of Crescent Energy in the 1st quarter worth about $117,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Crescent Energy in the 4th quarter worth about $146,000. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CRGY. Wall Street Zen raised shares of Crescent Energy from a "hold" rating to a "buy" rating in a report on Saturday. Piper Sandler increased their price objective on shares of Crescent Energy from $14.00 to $15.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Wells Fargo & Company lowered their target price on Crescent Energy from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Monday, June 16th. KeyCorp lowered their target price on Crescent Energy from $18.00 to $14.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Finally, Mizuho lowered their target price on Crescent Energy from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.10.

Crescent Energy Stock Performance

CRGY opened at $9.21 on Monday. The firm has a market cap of $2.35 billion, a PE ratio of -51.18 and a beta of 1.86. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.75. The business has a fifty day simple moving average of $9.07 and a 200-day simple moving average of $10.24. Crescent Energy Company has a fifty-two week low of $6.83 and a fifty-two week high of $16.94.

Crescent Energy (NYSE:CRGY - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.20. The business had revenue of $897.98 million during the quarter, compared to analyst estimates of $868.34 million. Crescent Energy had a return on equity of 13.35% and a net margin of 0.67%. As a group, equities analysts predict that Crescent Energy Company will post 0.77 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $0.48 annualized dividend and a dividend yield of 5.2%. Crescent Energy's dividend payout ratio (DPR) is currently -266.67%.

Crescent Energy Company Profile

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.

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