NFJ Investment Group LLC Acquires Shares of 285,955 Crescent Energy Company $CRGY

Key Points

• NFJ Investment Group disclosed a new fourth-quarter stake in Crescent Energy, buying 285,955 shares valued at about $2.4 million. The position represented roughly 0.11% of the company.
• Institutional ownership remains high, with several major funds adding to their Crescent Energy holdings; overall, institutions own about 52.11% of the stock.
• Crescent Energy beat quarterly expectations, reporting EPS of $0.53 versus the $0.39 estimate and revenue of $1.18 billion, while analysts currently rate the stock a consensus Moderate Buy with a $16.00 price target.

NFJ Investment Group LLC acquired a new stake in Crescent Energy Company (NYSE:CRGY - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 285,955 shares of the company's stock, valued at approximately $2,399,000. NFJ Investment Group LLC owned about 0.11% of Crescent Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Crescent Energy by 34.6% in the fourth quarter. Vanguard Group Inc. now owns 27,292,081 shares of the company's stock worth $228,981,000 after purchasing an additional 7,015,982 shares during the period. American Century Companies Inc. raised its holdings in Crescent Energy by 8.0% in the third quarter. American Century Companies Inc. now owns 19,363,386 shares of the company's stock worth $172,721,000 after purchasing an additional 1,434,789 shares during the period. Dimensional Fund Advisors LP raised its holdings in Crescent Energy by 20.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,872,215 shares of the company's stock worth $107,999,000 after purchasing an additional 2,213,352 shares during the period. State Street Corp raised its holdings in Crescent Energy by 27.6% in the fourth quarter. State Street Corp now owns 12,808,605 shares of the company's stock worth $107,464,000 after purchasing an additional 2,767,096 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Crescent Energy by 29.0% in the fourth quarter. Geode Capital Management LLC now owns 5,592,793 shares of the company's stock worth $46,935,000 after purchasing an additional 1,256,114 shares during the period. 52.11% of the stock is owned by institutional investors.

Crescent Energy Trading Down 0.1%

Shares of NYSE:CRGY opened at $11.57 on Monday. Crescent Energy Company has a 12 month low of $7.68 and a 12 month high of $14.29. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.12. The company's fifty day simple moving average is $12.60 and its 200 day simple moving average is $10.92. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of -15.42 and a beta of 1.37.

Crescent Energy (NYSE:CRGY - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.14. Crescent Energy had a negative net margin of 7.47% and a positive return on equity of 8.10%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the business posted $0.57 earnings per share. The firm's quarterly revenue was up 24.5% on a year-over-year basis. As a group, research analysts forecast that Crescent Energy Company will post 1.99 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Monday, May 18th. Crescent Energy's dividend payout ratio (DPR) is presently -64.00%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CRGY. William Blair reiterated an "outperform" rating on shares of Crescent Energy in a report on Friday, March 6th. Piper Sandler increased their target price on shares of Crescent Energy from $14.00 to $16.00 and gave the stock an "overweight" rating in a report on Thursday, March 12th. Wells Fargo & Company increased their target price on shares of Crescent Energy from $14.00 to $18.00 and gave the stock an "overweight" rating in a report on Thursday, April 23rd. Mizuho increased their target price on shares of Crescent Energy from $14.00 to $15.00 and gave the stock a "neutral" rating in a report on Wednesday, May 27th. Finally, Wall Street Zen upgraded shares of Crescent Energy from a "hold" rating to a "buy" rating in a report on Sunday, May 10th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $16.00.

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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