Crescent Energy Company $CRGY Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC raised its position in shares of Crescent Energy Company (NYSE:CRGY) by 235.7% in the first quarter, HoldingsChannel.com reports. The firm owned 144,268 shares of the company’s stock after buying an additional 101,298 shares during the period. NewEdge Advisors LLC’s holdings in Crescent Energy were worth $1,948,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CRGY. Vanguard Group Inc. raised its stake in shares of Crescent Energy by 34.6% in the 4th quarter. Vanguard Group Inc. now owns 27,292,081 shares of the company’s stock worth $228,981,000 after buying an additional 7,015,982 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in Crescent Energy by 775.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,303,260 shares of the company’s stock valued at $27,714,000 after buying an additional 2,925,780 shares in the last quarter. State Street Corp boosted its stake in Crescent Energy by 27.6% during the fourth quarter. State Street Corp now owns 12,808,605 shares of the company’s stock valued at $107,464,000 after buying an additional 2,767,096 shares in the last quarter. Bank of America Corp DE grew its holdings in Crescent Energy by 308.2% during the first quarter. Bank of America Corp DE now owns 3,056,820 shares of the company’s stock worth $41,267,000 after acquiring an additional 2,307,971 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Crescent Energy by 77.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,105,558 shares of the company’s stock worth $42,836,000 after acquiring an additional 2,234,324 shares during the period. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Crescent Energy Trading Up 2.5%

Shares of NYSE CRGY opened at $12.20 on Friday. Crescent Energy Company has a 12 month low of $7.68 and a 12 month high of $14.29. The company has a market cap of $4.03 billion, a price-to-earnings ratio of -243.85 and a beta of 1.41. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.00. The business has a fifty day simple moving average of $10.74 and a 200-day simple moving average of $11.51.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.26 billion. Crescent Energy had a return on equity of 10.52% and a net margin of 1.27%.The company’s revenue for the quarter was up 55.3% compared to the same quarter last year. Sell-side analysts predict that Crescent Energy Company will post 2.07 EPS for the current year.

Crescent Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Monday, August 17th. Crescent Energy’s dividend payout ratio (DPR) is presently -960.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CRGY shares. Raymond James Financial reissued a “strong-buy” rating and issued a $19.00 price target on shares of Crescent Energy in a report on Monday, August 3rd. Wells Fargo & Company lifted their price objective on shares of Crescent Energy from $18.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday. Mizuho boosted their target price on shares of Crescent Energy from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. UBS Group increased their target price on shares of Crescent Energy from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Stephens raised their target price on shares of Crescent Energy from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $16.33.

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.