Public Sector Pension Investment Board Has $6.52 Million Position in Crescent Energy Company $CRGY

Key Points

• The Public Sector Pension Investment Board increased its stake in Crescent Energy Company by 33.3% in the 1st quarter, owning approximately 0.23% of the company valued at $6.5 million.
• Crescent Energy reported earnings of $0.43 per share for the last quarter, surpassing analysts' expectations of $0.23, with a revenue of $897.98 million.
• The company has declared a quarterly dividend of $0.12 per share, translating to a 5.1% dividend yield, despite a negative payout ratio of -266.67%.

Public Sector Pension Investment Board boosted its stake in shares of Crescent Energy Company (NYSE:CRGY - Free Report) by 33.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 580,052 shares of the company's stock after purchasing an additional 144,932 shares during the quarter. Public Sector Pension Investment Board owned about 0.23% of Crescent Energy worth $6,520,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio boosted its position in Crescent Energy by 35.3% during the fourth 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. Hsbc Holdings PLC boosted its position in Crescent Energy by 4.3% during the fourth quarter. Hsbc Holdings PLC now owns 18,902 shares of the company's stock worth $276,000 after purchasing an additional 785 shares during the period. Dark Forest Capital Management LP lifted its holdings in shares of Crescent Energy by 4.0% during the fourth quarter. Dark Forest Capital Management LP now owns 33,350 shares of the company's stock worth $487,000 after buying an additional 1,282 shares during the last quarter. Yousif Capital Management LLC boosted its position in shares of Crescent Energy by 2.1% in the first quarter. Yousif Capital Management LLC now owns 66,806 shares of the company's stock valued at $751,000 after acquiring an additional 1,382 shares during the period. Finally, Amalgamated Bank boosted its position in shares of Crescent Energy by 3.0% in the first quarter. Amalgamated Bank now owns 51,467 shares of the company's stock valued at $578,000 after acquiring an additional 1,506 shares during the period. Institutional investors own 52.11% of the company's stock.

Crescent Energy Stock Performance

Shares of NYSE CRGY traded up $0.0950 during trading hours on Thursday, reaching $9.3750. The stock had a trading volume of 1,862,627 shares, compared to its average volume of 3,063,176. The business's fifty day moving average is $9.12 and its two-hundred day moving average is $9.93. 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 company has a market cap of $2.39 billion, a price-to-earnings ratio of -52.08 and a beta of 1.86. Crescent Energy Company has a twelve month low of $6.83 and a twelve month high of $16.94.

Crescent Energy (NYSE:CRGY - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.43 EPS for the quarter, beating analysts' consensus estimates 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, research analysts expect 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. Shareholders of record on Monday, August 18th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 5.1%. The ex-dividend date is Monday, August 18th. Crescent Energy's dividend payout ratio is currently -266.67%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CRGY shares. Wall Street Zen raised Crescent Energy from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Piper Sandler increased their price objective on Crescent Energy from $14.00 to $15.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Wells Fargo & Company reduced their price objective on Crescent Energy from $20.00 to $19.00 and set an "overweight" rating for the company in a research report on Monday, June 16th. Finally, Mizuho reduced their price objective on Crescent Energy from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Crescent Energy presently has an average rating of "Moderate Buy" and an average target price of $16.10.

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.