Royce & Associates LP lowered its stake in Crescent Energy Company (NYSE:CRGY - Free Report) by 35.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 440,316 shares of the company's stock after selling 239,522 shares during the period. Royce & Associates LP owned 0.17% of Crescent Energy worth $4,949,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Crescent Energy during the 1st quarter valued at $220,000. Y Intercept Hong Kong Ltd purchased a new stake in Crescent Energy during the 1st quarter valued at $222,000. Jennison Associates LLC boosted its stake in Crescent Energy by 3.3% during the 1st quarter. Jennison Associates LLC now owns 4,944,038 shares of the company's stock valued at $55,571,000 after purchasing an additional 158,712 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Crescent Energy by 12.4% during the 1st quarter. Victory Capital Management Inc. now owns 849,692 shares of the company's stock valued at $9,551,000 after purchasing an additional 93,690 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in Crescent Energy by 2.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 86,100 shares of the company's stock valued at $968,000 after purchasing an additional 1,700 shares during the last quarter. Hedge funds and other institutional investors own 52.11% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have commented on CRGY. KeyCorp cut their target price on Crescent Energy from $18.00 to $14.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Wells Fargo & Company cut their target price 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. Piper Sandler increased their target price 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, Mizuho cut their target price 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $16.10.
Check Out Our Latest Research Report on CRGY
Crescent Energy Price Performance
NYSE CRGY opened at $9.21 on Monday. The business's fifty day moving average price is $8.96 and its 200-day moving average price is $10.74. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of -20.46 and a beta of 1.74. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.78 and a quick ratio of 0.78. Crescent Energy Company has a 1-year low of $6.83 and a 1-year high of $16.94.
Crescent Energy (NYSE:CRGY - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.09. Crescent Energy had a positive return on equity of 14.21% and a negative net margin of 2.88%. The firm had revenue of $950.17 million for the quarter, compared to analysts' expectations of $937.55 million. On average, equities analysts predict that Crescent Energy Company will post 0.77 earnings per share for the current year.
Crescent Energy Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a $0.12 dividend. The ex-dividend date was Monday, May 19th. This represents a $0.48 dividend on an annualized basis and a yield of 5.21%. Crescent Energy's dividend payout ratio is currently -106.67%.
Crescent Energy Profile
(
Free Report)
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.
Featured Articles
Want to see what other hedge funds are holding CRGY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crescent Energy Company (NYSE:CRGY - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Crescent Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Crescent Energy wasn't on the list.
While Crescent Energy currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
