Louisiana State Employees Retirement System Invests $1.46 Million in Crescent Energy Company $CRGY

Louisiana State Employees Retirement System acquired a new position in Crescent Energy Company (NYSE:CRGY) during the first quarter, HoldingsChannel.com reports. The fund acquired 107,800 shares of the company’s stock, valued at approximately $1,455,000.

Several other institutional investors have also added to or reduced their stakes in CRGY. Fifth Third Bancorp increased its position in Crescent Energy by 109.3% during the 4th quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock valued at $33,000 after purchasing an additional 2,039 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in shares of Crescent Energy by 134.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock worth $33,000 after purchasing an additional 2,286 shares during the period. Quarry LP boosted its stake in shares of Crescent Energy by 303.5% in the 3rd quarter. Quarry LP now owns 4,152 shares of the company’s stock valued at $37,000 after purchasing an additional 3,123 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Crescent Energy by 42.3% in the 4th quarter. Allworth Financial LP now owns 4,712 shares of the company’s stock valued at $40,000 after purchasing an additional 1,401 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its stake in shares of Crescent Energy by 25.2% in the 2nd quarter. Osaic Holdings Inc. now owns 5,301 shares of the company’s stock valued at $46,000 after purchasing an additional 1,066 shares during the last quarter. 52.11% of the stock is currently owned by institutional investors.

Crescent Energy Stock Performance

Shares of CRGY stock opened at $9.37 on Friday. The firm has a market capitalization of $3.09 billion, a PE ratio of -12.49 and a beta of 1.41. The firm has a fifty day simple moving average of $11.91 and a two-hundred day simple moving average of $10.99. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.12. Crescent Energy Company has a 12 month low of $7.68 and a 12 month high of $14.29.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Monday, May 4th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.14. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. Crescent Energy had a negative net margin of 7.47% and a positive return on equity of 8.10%. The business’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period last year, the firm earned $0.57 earnings per share. Analysts forecast that Crescent Energy Company will post 1.98 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were given a $0.12 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.48 annualized dividend and a yield of 5.1%. Crescent Energy’s dividend payout ratio (DPR) is presently -64.00%.

Analysts Set New Price Targets

CRGY has been the subject of a number of analyst reports. William Blair reissued an “outperform” rating on shares of Crescent Energy in a research note on Friday, March 6th. Stephens reaffirmed an “overweight” rating and set a $18.00 price target on shares of Crescent Energy in a research report on Tuesday, May 5th. Piper Sandler increased their price target on Crescent Energy from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Weiss Ratings lowered Crescent Energy from a “hold (c)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen downgraded Crescent Energy from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have assigned 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 a consensus target price of $15.82.

Crescent Energy Company Profile

Crescent Energy Co (NYSE: CRGY) is an independent exploration and production company focused on the acquisition, development and production of oil and natural gas resources in North America. Headquartered in Oklahoma City, the company’s core business activities include the identification and appraisal of prospective acreage, the design and execution of drilling and completion programs, and the ongoing operation and optimization of producing wells. Crescent Energy’s integrated approach emphasizes capital efficiency, reservoir quality and operational reliability to support sustainable cash flow generation over the commodity cycle.

Crescent Energy’s operations are concentrated in the Permian Basin, with a particular focus on the Delaware Basin’s stacked pay intervals.