Crescent Energy Company $CRGY Shares Purchased by Hotchkis & Wiley Capital Management LLC

Key Points

• Hotchkis & Wiley Capital Management increased its stake in Crescent Energy Company (CRGY) by 2.0%, now owning over 2 million shares valued at approximately $23.3 million.
• Crescent Energy reported a quarterly earnings per share (EPS) of $0.43, surpassing analysts' estimates of $0.23, alongside a revenue of $897.98 million.
• The company declared a quarterly dividend of $0.12 per share, providing a 4.8% dividend yield, with an upcoming payment date set for September 2nd.

Hotchkis & Wiley Capital Management LLC raised its position in Crescent Energy Company (NYSE:CRGY - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,074,067 shares of the company's stock after buying an additional 40,196 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 0.81% of Crescent Energy worth $23,313,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CRGY. Envestnet Asset Management Inc. bought a new position in Crescent Energy in the 4th quarter valued at about $187,000. Raymond James Financial Inc. acquired a new stake in Crescent Energy during the fourth quarter worth approximately $1,811,000. Barclays PLC lifted its position in shares of Crescent Energy by 21.2% during the 4th quarter. Barclays PLC now owns 292,319 shares of the company's stock valued at $4,270,000 after acquiring an additional 51,182 shares during the period. Mariner LLC raised its holdings in Crescent Energy by 32.3% during the fourth quarter. Mariner LLC now owns 86,658 shares of the company's stock worth $1,266,000 after buying an additional 21,143 shares during the last quarter. Finally, Guggenheim Capital LLC acquired a new position in Crescent Energy during the fourth quarter worth $324,000. 52.11% of the stock is owned by institutional investors.

Crescent Energy Stock Up 3.1%

Crescent Energy stock traded up $0.29 during trading hours on Thursday, reaching $9.59. The stock had a trading volume of 5,813,305 shares, compared to its average volume of 3,575,407. The company has a market cap of $2.44 billion, a price-to-earnings ratio of -53.25 and a beta of 1.86. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.88 and a quick ratio of 0.88. The business's 50 day moving average price is $9.11 and its 200-day moving average price is $9.78. Crescent Energy Company has a 52 week low of $6.83 and a 52 week high of $16.94.

Crescent Energy (NYSE:CRGY - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.20. The business had revenue of $897.98 million during the quarter, compared to the consensus estimate of $868.34 million. Crescent Energy had a net margin of 0.67% and a return on equity of 13.35%. Sell-side analysts anticipate that Crescent Energy Company will post 0.77 EPS for the current 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 issued a dividend of $0.12 per share. The ex-dividend date is Monday, August 18th. This represents a $0.48 annualized dividend and a dividend yield of 5.0%. Crescent Energy's dividend payout ratio is -266.67%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Piper Sandler raised 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. Zacks Research downgraded shares of Crescent Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. Mizuho dropped their target price on shares of Crescent Energy from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Wall Street Zen raised shares of Crescent Energy from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, William Blair began coverage on shares of Crescent Energy in a research note on Monday. They set an "outperform" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Crescent Energy has a consensus rating of "Moderate Buy" and a consensus target price of $16.00.

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.