Versor Investments LP Makes New Investment in Crescent Energy Company $CRGY

Key Points

• Versor Investments LP acquired a new position in Crescent Energy Company, purchasing 81,800 shares valued at approximately $919,000 in the first quarter.
• Crescent Energy has recently faced rating adjustments from analysts, with KeyCorp lowering its price target from $18.00 to $14.00, while others have varied targets and ratings, leading to a consensus rating of "Moderate Buy."
• The company reported a quarterly earnings per share of $0.43, surpassing analysts' expectations significantly, along with a declared quarterly dividend of $0.12 per share, reflecting a yield of 5.2%.

Versor Investments LP purchased a new stake in Crescent Energy Company (NYSE:CRGY - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 81,800 shares of the company's stock, valued at approximately $919,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. raised its holdings in shares of Crescent Energy by 10.0% in the first quarter. American Century Companies Inc. now owns 13,967,599 shares of the company's stock valued at $156,996,000 after buying an additional 1,266,674 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Crescent Energy in the first quarter valued at about $133,000. Russell Investments Group Ltd. raised its holdings in shares of Crescent Energy by 6.8% in the first quarter. Russell Investments Group Ltd. now owns 155,632 shares of the company's stock valued at $1,749,000 after buying an additional 9,846 shares during the last quarter. Annandale Capital LLC purchased a new stake in shares of Crescent Energy in the first quarter valued at about $187,000. Finally, HighTower Advisors LLC raised its holdings in shares of Crescent Energy by 194.3% in the first quarter. HighTower Advisors LLC now owns 30,799 shares of the company's stock valued at $346,000 after buying an additional 20,333 shares during the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Stock Performance

NYSE CRGY traded up $0.5520 during trading hours on Friday, hitting $9.9320. 2,708,298 shares of the stock were exchanged, compared to its average volume of 3,407,862. The company has a market cap of $2.53 billion, a price-to-earnings ratio of -55.18 and a beta of 1.86. Crescent Energy Company has a 12-month low of $6.83 and a 12-month high of $16.94. The stock has a 50-day moving average of $9.12 and a 200 day moving average of $9.93. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.75.

Crescent Energy (NYSE:CRGY - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.20. Crescent Energy had a net margin of 0.67% and a return on equity of 13.35%. The firm had revenue of $897.98 million during the quarter, compared to analysts' expectations of $868.34 million. As a group, equities research analysts forecast that Crescent Energy Company will post 0.77 earnings per share for the current year.

Crescent Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.8%. The ex-dividend date is Monday, August 18th. Crescent Energy's dividend payout ratio is presently -266.67%.

Analysts Set New Price Targets

CRGY has been the subject of a number of research reports. Wells Fargo & Company reduced their target price on shares of Crescent Energy from $20.00 to $19.00 and set an "overweight" rating for the company in a report on Monday, June 16th. Piper Sandler upped their target price on shares of Crescent Energy from $14.00 to $15.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Mizuho reduced their target price on shares of Crescent Energy from $13.00 to $12.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Wall Street Zen raised shares of Crescent Energy from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Raymond James Financial reissued a "strong-buy" rating and set a $14.00 price target (down from $16.00) on shares of Crescent Energy in a report on Friday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Crescent Energy has an average rating of "Moderate Buy" and an average price target of $15.70.

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.