Dynamic Technology Lab Private Ltd Purchases Shares of 93,110 Crescent Energy Company $CRGY

Key Points

• Dynamic Technology Lab Private Ltd acquired 93,110 shares of Crescent Energy Company (NYSE:CRGY), valued at approximately $1,047,000, in the first quarter, reflecting increasing institutional interest.
• Crescent Energy's stock has a current market capitalization of $2.23 billion and reported a net revenue of $897.98 million in its most recent quarterly earnings.
• Wall Street analysts have mixed ratings for Crescent Energy, with one Strong Buy rating, nine Buy ratings, and a consensus Moderate Buy rating, alongside an average target price of $16.00.

Dynamic Technology Lab Private Ltd bought a new stake in Crescent Energy Company (NYSE:CRGY - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 93,110 shares of the company's stock, valued at approximately $1,047,000.

Other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in Crescent Energy by 7.4% during the first quarter. Principal Financial Group Inc. now owns 910,171 shares of the company's stock valued at $10,230,000 after buying an additional 62,622 shares during the last quarter. Amalgamated Bank raised its stake in Crescent Energy by 3.0% during the first quarter. Amalgamated Bank now owns 51,467 shares of the company's stock valued at $578,000 after buying an additional 1,506 shares during the last quarter. Jump Financial LLC purchased a new position in Crescent Energy during the first quarter valued at $3,355,000. Victory Capital Management Inc. raised its stake in Crescent Energy by 12.4% during the first quarter. Victory Capital Management Inc. now owns 849,692 shares of the company's stock valued at $9,551,000 after buying an additional 93,690 shares during the last quarter. Finally, KBC Group NV purchased a new position in Crescent Energy during the first quarter valued at $117,000. Hedge funds and other institutional investors own 52.11% of the company's stock.

Crescent Energy Stock Performance

Shares of CRGY traded down $0.13 during trading hours on Friday, hitting $8.67. The stock had a trading volume of 3,922,444 shares, compared to its average volume of 5,370,789. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.88 and a quick ratio of 0.88. Crescent Energy Company has a 12 month low of $6.83 and a 12 month high of $16.94. The firm has a market capitalization of $2.21 billion, a PE ratio of -48.17 and a beta of 1.98. The stock has a fifty day moving average price of $9.12 and a 200 day moving average price of $9.28.

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

Crescent Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend was Monday, August 18th. Crescent Energy's payout ratio is currently -266.67%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CRGY. William Blair started coverage on Crescent Energy in a research note on Monday, August 25th. They set an "outperform" rating for the company. Wells Fargo & Company reduced their target price on Crescent Energy from $20.00 to $19.00 and set an "overweight" rating for the company in a report on Monday, June 16th. Zacks Research lowered Crescent Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Raymond James Financial set a $17.00 target price on Crescent Energy and gave the stock a "strong-buy" rating in a report on Wednesday, August 27th. Finally, Piper Sandler lifted their target price on Crescent Energy from $14.00 to $15.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $16.00.

About Crescent Energy

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.