First Trust Advisors LP Has $20.82 Million Position in Crescent Energy Company $CRGY

Key Points

• First Trust Advisors increased its Crescent Energy stake by 29% in the first quarter, owning 1.54 million shares worth approximately $20.82 million. Institutional investors collectively hold 52.11% of the company.
• Analyst sentiment remains favorable but mixed, with Crescent Energy carrying a “Moderate Buy” consensus rating and an average price target of $15.58; recent targets include $18 from Stephens and Raymond James.
• Crescent Energy reported quarterly EPS of $0.53, beating estimates of $0.39, while revenue rose 24.5% year over year to $1.18 billion. The company also pays a $0.12 quarterly dividend, equivalent to a 4.3% annualized yield.

First Trust Advisors LP lifted its holdings in Crescent Energy Company (NYSE:CRGY - Free Report) by 29.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,542,176 shares of the company's stock after buying an additional 346,242 shares during the period. First Trust Advisors LP owned about 0.47% of Crescent Energy worth $20,819,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Strs Ohio purchased a new stake in Crescent Energy in the 1st quarter worth about $32,000. Fifth Third Bancorp grew its stake in Crescent Energy by 109.3% during the 4th quarter. Fifth Third Bancorp now owns 3,905 shares of the company's stock valued at $33,000 after acquiring an additional 2,039 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in Crescent Energy by 134.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company's stock valued at $33,000 after acquiring an additional 2,286 shares in the last quarter. Quarry LP increased its holdings in shares of Crescent Energy by 303.5% in the 3rd quarter. Quarry LP now owns 4,152 shares of the company's stock valued at $37,000 after purchasing an additional 3,123 shares during the period. Finally, Allworth Financial LP lifted its position in shares of Crescent Energy by 42.3% in the fourth quarter. Allworth Financial LP now owns 4,712 shares of the company's stock worth $40,000 after purchasing an additional 1,401 shares in the last quarter. Hedge funds and other institutional investors own 52.11% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Zacks Research cut shares of Crescent Energy from a "strong-buy" rating to a "hold" rating in a report on Monday, June 29th. Stephens reiterated an "overweight" rating and issued a $18.00 target price on shares of Crescent Energy in a research report on Tuesday, May 5th. Weiss Ratings downgraded shares of Crescent Energy from a "hold (c)" rating to a "sell (d)" rating in a research report on Wednesday, May 6th. Raymond James Financial decreased their target price on shares of Crescent Energy from $20.00 to $18.00 and set a "strong-buy" rating for the company in a research note on Thursday, June 18th. Finally, Wall Street Zen cut shares of Crescent Energy from a "buy" rating to a "hold" rating in a report on Saturday, June 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $15.58.

Crescent Energy Stock Up 6.2%

CRGY opened at $11.06 on Thursday. Crescent Energy Company has a fifty-two week low of $7.68 and a fifty-two week high of $14.29. The business has a 50-day moving average of $10.88 and a 200-day moving average of $11.26. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.57 and a quick ratio of 0.57. The company has a market capitalization of $3.65 billion, a PE ratio of -14.75 and a beta of 1.40.

Crescent Energy (NYSE:CRGY - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.39 by $0.14. The business had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.15 billion. Crescent Energy had a positive return on equity of 8.10% and a negative net margin of 7.47%.The firm's quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 EPS. Equities research analysts forecast that Crescent Energy Company will post 1.78 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were paid a $0.12 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.48 dividend on an annualized basis and a yield of 4.3%. Crescent Energy's payout ratio is -64.00%.

Crescent Energy Company 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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