Voya Investment Management LLC Increases Holdings in Crescent Energy Company $CRGY

Key Points

• Voya Investment Management LLC has increased its holdings in Crescent Energy Company by 34.7%, now owning 155,759 shares valued at approximately $1.75 million.
• Crescent Energy Company reported $0.43 earnings per share for the most recent quarter, exceeding analysts' estimates of $0.23, along with a revenue of $897.98 million.
• The company announced a quarterly dividend of $0.12 per share, reflecting an annualized dividend yield of 5.6%, despite a negative payout ratio of -266.67%.

Voya Investment Management LLC lifted its position in Crescent Energy Company (NYSE:CRGY - Free Report) by 34.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 155,759 shares of the company's stock after purchasing an additional 40,159 shares during the period. Voya Investment Management LLC owned 0.06% of Crescent Energy worth $1,751,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in shares of Crescent Energy by 7.4% in the first quarter. Principal Financial Group Inc. now owns 910,171 shares of the company's stock valued at $10,230,000 after purchasing an additional 62,622 shares during the period. Amalgamated Bank boosted its holdings in shares of Crescent Energy by 3.0% in the first quarter. Amalgamated Bank now owns 51,467 shares of the company's stock valued at $578,000 after purchasing an additional 1,506 shares during the period. Jump Financial LLC purchased a new stake in shares of Crescent Energy in the first quarter valued at approximately $3,355,000. Victory Capital Management Inc. boosted its holdings in shares of Crescent Energy by 12.4% in the first 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 period. Finally, KBC Group NV purchased a new stake in shares of Crescent Energy in the first quarter valued at approximately $117,000. Hedge funds and other institutional investors own 52.11% of the company's stock.

Crescent Energy Stock Performance

Shares of CRGY stock opened at $8.53 on Tuesday. The business's fifty day simple moving average is $9.06 and its 200-day simple moving average is $9.14. The company has a market cap of $2.17 billion, a PE ratio of -47.36 and a beta of 1.98. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.75. 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 issued its quarterly earnings results on Monday, August 4th. The company reported $0.43 earnings per share (EPS) 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 the consensus estimate 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 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.6%. Crescent Energy's dividend payout ratio is presently -266.67%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Wall Street Zen raised shares of Crescent Energy from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Mizuho reduced their price objective on shares of Crescent Energy from $12.00 to $10.00 and set a "neutral" rating for the company in a research note on Monday, September 15th. Zacks Research downgraded shares of Crescent Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. Wells Fargo & Company reduced their price objective on shares of Crescent Energy from $20.00 to $19.00 and set an "overweight" rating for the company in a research note on Monday, June 16th. Finally, Raymond James Financial set a $17.00 price objective on shares of Crescent Energy and gave the stock a "strong-buy" rating in a research note on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $15.80.

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.

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