Quantbot Technologies LP Has $4.06 Million Stock Position in Crescent Energy Company $CRGY

Key Points

• Quantbot Technologies LP increased its holdings in Crescent Energy by 97.7%, owning 361,283 shares worth approximately $4.06 million.
• Several hedge funds have also significantly raised their positions in Crescent Energy, leading to institutional investors holding over 52.11% of the company's stock.
• Crescent Energy reported an earnings per share (EPS) of $0.43 for the last quarter, surpassing the consensus estimate of $0.23.

Quantbot Technologies LP lifted its holdings in shares of Crescent Energy Company (NYSE:CRGY - Free Report) by 97.7% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 361,283 shares of the company's stock after buying an additional 178,528 shares during the period. Quantbot Technologies LP owned about 0.14% of Crescent Energy worth $4,061,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Brooklyn Investment Group grew its position in Crescent Energy by 1,110.3% during the 1st quarter. Brooklyn Investment Group now owns 2,457 shares of the company's stock worth $28,000 after acquiring an additional 2,254 shares during the last quarter. Versor Investments LP acquired a new position in shares of Crescent Energy in the 1st quarter valued at about $919,000. American Century Companies Inc. lifted its stake in shares of Crescent Energy by 10.0% in the 1st quarter. American Century Companies Inc. now owns 13,967,599 shares of the company's stock valued at $156,996,000 after purchasing an additional 1,266,674 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Crescent Energy in the 1st quarter valued at about $133,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of Crescent Energy by 6.8% in the 1st quarter. Russell Investments Group Ltd. now owns 155,632 shares of the company's stock valued at $1,749,000 after purchasing an additional 9,846 shares during the period. Institutional investors own 52.11% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CRGY. Wells Fargo & Company dropped their price objective on Crescent Energy from $20.00 to $19.00 and set an "overweight" rating on the stock in a research note on Monday, June 16th. Mizuho dropped their price objective on Crescent Energy from $13.00 to $12.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Piper Sandler boosted their price objective on Crescent Energy from $14.00 to $15.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Finally, Wall Street Zen raised Crescent Energy from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Crescent Energy has a consensus rating of "Moderate Buy" and an average price target of $16.10.

Crescent Energy Stock Down 1.2%

CRGY stock opened at $9.2110 on Wednesday. The stock's 50 day simple moving average is $9.13 and its 200 day simple moving average is $9.97. Crescent Energy Company has a fifty-two week low of $6.83 and a fifty-two week high of $16.94. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $2.35 billion, a P/E ratio of -51.17 and a beta of 1.86.

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. The firm had revenue of $897.98 million during the quarter, compared to the consensus estimate of $868.34 million. Crescent Energy had a return on equity of 13.35% and a net margin of 0.67%. On average, research analysts expect that Crescent Energy Company will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

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 paid a $0.12 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $0.48 annualized dividend and a dividend yield of 5.2%. Crescent Energy's dividend payout ratio is -266.67%.

Crescent Energy 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.

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