1,017,856 Shares in Crescent Energy (NYSE:CRGY) Purchased by Royce & Associates LP

Royce & Associates LP purchased a new stake in Crescent Energy (NYSE:CRGY) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,017,856 shares of the company’s stock, valued at approximately $11,146,000. Royce & Associates LP owned approximately 0.57% of Crescent Energy as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CRGY. American Century Companies Inc. lifted its position in Crescent Energy by 444.8% during the second quarter. American Century Companies Inc. now owns 7,775,940 shares of the company’s stock valued at $92,145,000 after purchasing an additional 6,348,598 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Crescent Energy by 286.7% during the 2nd quarter. Marshall Wace LLP now owns 2,830,118 shares of the company’s stock worth $33,537,000 after acquiring an additional 2,098,303 shares during the last quarter. Zimmer Partners LP purchased a new position in Crescent Energy in the first quarter worth $17,731,000. Dimensional Fund Advisors LP increased its stake in Crescent Energy by 85.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,656,222 shares of the company’s stock valued at $31,477,000 after acquiring an additional 1,226,027 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Crescent Energy by 13.9% during the first quarter. Vanguard Group Inc. now owns 9,308,793 shares of the company’s stock valued at $110,775,000 after purchasing an additional 1,137,367 shares in the last quarter. Institutional investors own 52.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CRGY shares. Stephens increased their price objective on Crescent Energy from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Wells Fargo & Company reduced their price target on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. JPMorgan Chase & Co. assumed coverage on shares of Crescent Energy in a report on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 price objective for the company. Truist Financial decreased their target price on shares of Crescent Energy from $19.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Mizuho upped their price target on shares of Crescent Energy from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $15.80.

Crescent Energy Stock Performance

Crescent Energy stock opened at $13.76 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. The firm has a market cap of $2.44 billion, a P/E ratio of 22.19 and a beta of 2.19. Crescent Energy has a 1-year low of $9.88 and a 1-year high of $14.18. The firm has a 50-day moving average of $12.25 and a 200-day moving average of $11.95.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.11. The firm had revenue of $744.87 million for the quarter, compared to analyst estimates of $793.88 million. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. During the same period last year, the company earned $0.35 EPS. Sell-side analysts expect that Crescent Energy will post 0.97 EPS for the current year.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $0.48 annualized dividend and a yield of 3.49%. Crescent Energy’s dividend payout ratio (DPR) is presently 77.42%.

About Crescent Energy

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.