Versor Investments LP Purchases Shares of 81,800 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 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 81,800 shares of the company's stock, valued at approximately $919,000.

Several other large investors have also modified their holdings of CRGY. ArrowMark Colorado Holdings LLC bought a new stake in shares of Crescent Energy in the 4th quarter valued at about $36,593,000. Nuveen LLC bought a new stake in shares of Crescent Energy in the 1st quarter valued at about $21,782,000. Adage Capital Partners GP L.L.C. raised its holdings in shares of Crescent Energy by 6,700.0% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,700,000 shares of the company's stock valued at $24,837,000 after purchasing an additional 1,675,000 shares in the last quarter. American Century Companies Inc. raised its holdings 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 in the last quarter. Finally, Yaupon Capital Management LP bought a new stake in shares of Crescent Energy in the 4th quarter valued at about $13,149,000. Institutional investors own 52.11% of the company's stock.

Crescent Energy Stock Up 5.9%

Shares of 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 2,987,728. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.75. The company has a market cap of $2.53 billion, a PE ratio of -55.18 and a beta of 1.86. The firm has a fifty day moving average price of $9.13 and a 200-day moving average price of $9.82. Crescent Energy Company has a 12 month low of $6.83 and a 12 month high of $16.94.

Crescent Energy (NYSE:CRGY - Get Free Report) last posted 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. 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 analyst estimates of $868.34 million. On average, sell-side analysts expect that Crescent Energy Company will post 0.77 EPS for the current year.

Crescent Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Piper Sandler boosted their price target 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. Wells Fargo & Company reduced their price target 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. Raymond James Financial restated a "strong-buy" rating and issued a $14.00 price target (down previously from $16.00) on shares of Crescent Energy in a report on Friday. Mizuho reduced their price target 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. Finally, Wall Street Zen upgraded shares of Crescent Energy from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $15.70.

Crescent Energy Company 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.