11,697,783 Shares in Crescent Energy (NYSE:CRGY) Bought by Pacer Advisors Inc.

Pacer Advisors Inc. acquired a new stake in shares of Crescent Energy (NYSE:CRGY) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,697,783 shares of the company’s stock, valued at approximately $170,905,000. Pacer Advisors Inc. owned about 0.05% of Crescent Energy at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CRGY. Dimensional Fund Advisors LP increased its stake in Crescent Energy by 85.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,656,222 shares of the company’s stock valued at $31,477,000 after purchasing an additional 1,226,027 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Crescent Energy by 225.9% during the 2nd quarter. Renaissance Technologies LLC now owns 346,800 shares of the company’s stock valued at $4,110,000 after buying an additional 240,400 shares during the last quarter. Sei Investments Co. raised its stake in Crescent Energy by 1,852.6% during the second quarter. Sei Investments Co. now owns 848,798 shares of the company’s stock worth $10,058,000 after acquiring an additional 805,328 shares during the period. AQR Capital Management LLC bought a new position in Crescent Energy in the second quarter worth about $2,373,000. Finally, Mackenzie Financial Corp lifted its holdings in Crescent Energy by 23.5% in the second quarter. Mackenzie Financial Corp now owns 14,669 shares of the company’s stock worth $174,000 after acquiring an additional 2,796 shares during the last quarter. 52.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Raymond James boosted their price objective on Crescent Energy from $22.00 to $23.00 and gave the company a “strong-buy” rating in a research report on Thursday. Stephens increased their price objective on shares of Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Mizuho boosted their target price on shares of Crescent Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Pickering Energy Partners initiated coverage on shares of Crescent Energy in a research note on Monday, October 28th. They issued an “outperform” rating on the stock. Finally, Wells Fargo & Company reduced their price objective on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $17.50.

Crescent Energy Trading Down 2.2 %

Shares of Crescent Energy stock opened at $15.98 on Monday. The company’s fifty day moving average price is $14.94 and its two-hundred day moving average price is $12.98. The firm has a market capitalization of $3.65 billion, a PE ratio of 25.78 and a beta of 2.17. Crescent Energy has a 52-week low of $9.88 and a 52-week high of $16.94. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93.

Crescent Energy (NYSE:CRGY) last posted its earnings results on Monday, November 4th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.11. The business had revenue of $744.87 million for the quarter, compared to analysts’ expectations of $793.88 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. During the same quarter in the previous year, the firm posted $0.35 earnings per share. On average, analysts expect that Crescent Energy will post 0.84 EPS for the current year.

Crescent Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.48 annualized dividend and a dividend yield of 3.00%. Crescent Energy’s dividend payout ratio (DPR) is presently 77.42%.

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.