Quantbot Technologies LP Acquires 178,528 Shares of 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 grew its position in shares of Crescent Energy Company (NYSE:CRGY - Free Report) by 97.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 361,283 shares of the company's stock after acquiring an additional 178,528 shares during the quarter. Quantbot Technologies LP owned about 0.14% of Crescent Energy worth $4,061,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Brooklyn Investment Group grew its holdings in Crescent Energy by 1,110.3% during the first quarter. Brooklyn Investment Group now owns 2,457 shares of the company's stock worth $28,000 after buying an additional 2,254 shares in the last quarter. Allworth Financial LP purchased a new position in Crescent Energy in the first quarter worth $34,000. Public Employees Retirement System of Ohio boosted its position in Crescent Energy by 35.3% in 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 last quarter. Quarry LP boosted its position in Crescent Energy by 263.4% in the fourth quarter. Quarry LP now owns 4,353 shares of the company's stock worth $64,000 after purchasing an additional 3,155 shares during the last quarter. Finally, KBC Group NV purchased a new position in Crescent Energy in the first quarter worth $117,000. Institutional investors own 52.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented 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. Wells Fargo & Company dropped their price target on Crescent Energy from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Monday, June 16th. Piper Sandler upped their price target on Crescent Energy from $14.00 to $15.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Zacks Research cut Crescent Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Finally, William Blair started coverage on Crescent Energy in a research report on Monday. They set an "outperform" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Crescent Energy currently has an average rating of "Moderate Buy" and an average target price of $15.70.

Crescent Energy Price Performance

NYSE CRGY traded down $0.6260 during trading on Monday, reaching $9.3140. The company's stock had a trading volume of 7,024,086 shares, compared to its average volume of 3,426,550. The stock has a market capitalization of $2.37 billion, a PE ratio of -51.64 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 firm has a fifty day moving average of $9.13 and a 200 day moving average of $9.82. Crescent Energy Company has a one year low of $6.83 and a one year 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 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.20. The business had revenue of $897.98 million for 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%. Analysts expect that Crescent Energy Company will post 0.77 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Monday, August 18th. Crescent Energy's dividend payout ratio is currently -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.