Vanguard Group Inc. Grows Position in Crescent Energy Company $CRGY

Key Points

• Vanguard Group increased its stake in Crescent Energy by 34.6% in the fourth quarter, adding more than 7 million shares and bringing its total holding to 27.3 million shares worth about $229 million.
• Crescent Energy reported stronger-than-expected quarterly results, with earnings of $0.53 per share versus the $0.39 estimate and revenue of $1.18 billion, up 24.5% year over year.
• The company also declared a quarterly dividend of $0.12 per share, equal to an annualized yield of 3.9%, while analysts currently rate the stock a Moderate Buy with a consensus price target of $15.73.

Vanguard Group Inc. grew its holdings in shares of Crescent Energy Company (NYSE:CRGY - Free Report) by 34.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,292,081 shares of the company's stock after acquiring an additional 7,015,982 shares during the quarter. Vanguard Group Inc. owned about 10.72% of Crescent Energy worth $228,981,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Segment Wealth Management LLC bought a new position in shares of Crescent Energy in the fourth quarter worth approximately $128,000. Arizona State Retirement System lifted its position in Crescent Energy by 20.1% during the fourth quarter. Arizona State Retirement System now owns 68,036 shares of the company's stock valued at $571,000 after purchasing an additional 11,389 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in Crescent Energy by 4.4% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 118,694 shares of the company's stock worth $996,000 after buying an additional 5,045 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Crescent Energy by 31.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,453 shares of the company's stock worth $507,000 after buying an additional 14,361 shares in the last quarter. Finally, GF Fund Management CO. LTD. increased its holdings in shares of Crescent Energy by 42.5% in the 4th quarter. GF Fund Management CO. LTD. now owns 71,061 shares of the company's stock worth $596,000 after buying an additional 21,210 shares during the last quarter. Hedge funds and other institutional investors own 52.11% of the company's stock.

Crescent Energy Trading Down 0.4%

Shares of CRGY opened at $12.39 on Friday. Crescent Energy Company has a fifty-two week low of $7.68 and a fifty-two week high of $14.29. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of -16.51 and a beta of 1.44. The firm has a 50 day moving average price of $12.53 and a 200-day moving average price of $10.24. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.48 and a current ratio of 0.57.

Crescent Energy (NYSE:CRGY - Get Free Report) last released its earnings results on Monday, May 4th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.39 by $0.14. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. Crescent Energy had a negative net margin of 7.47% and a positive return on equity of 8.10%. The firm's quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.57 EPS. As a group, equities research analysts forecast that Crescent Energy Company will post 1.84 earnings per share for the current year.

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, May 18th. Crescent Energy's dividend payout ratio (DPR) is -64.00%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CRGY. William Blair restated an "outperform" rating on shares of Crescent Energy in a research report on Friday, March 6th. KeyCorp increased their target price on Crescent Energy from $15.00 to $19.00 and gave the company an "overweight" rating in a research note on Thursday, April 2nd. Johnson Rice restated an "accumulate" rating and set a $19.00 price target on shares of Crescent Energy in a research report on Wednesday, March 25th. Zacks Research raised Crescent Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 3rd. Finally, Wall Street Zen upgraded Crescent Energy from a "hold" rating to a "buy" rating in a report on Sunday. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Crescent Energy has a consensus rating of "Moderate Buy" and a consensus price target of $15.73.

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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