Crescent Energy Company $CRGY Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. grew its holdings in shares of Crescent Energy Company (NYSE:CRGY) by 53.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,119,187 shares of the company’s stock after purchasing an additional 388,604 shares during the period. Victory Capital Management Inc.’s holdings in Crescent Energy were worth $9,983,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Caitlin John LLC acquired a new position in Crescent Energy during the 3rd quarter valued at about $27,000. Nisa Investment Advisors LLC boosted its holdings in shares of Crescent Energy by 50.2% in the third quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company’s stock valued at $33,000 after acquiring an additional 1,241 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in shares of Crescent Energy by 25.2% in the second quarter. Osaic Holdings Inc. now owns 5,301 shares of the company’s stock valued at $46,000 after acquiring an additional 1,066 shares in the last quarter. Hantz Financial Services Inc. increased its stake in shares of Crescent Energy by 135.8% during the third quarter. Hantz Financial Services Inc. now owns 6,018 shares of the company’s stock valued at $54,000 after acquiring an additional 3,466 shares during the period. Finally, NewEdge Advisors LLC raised its holdings in Crescent Energy by 1,227.9% during the second quarter. NewEdge Advisors LLC now owns 11,951 shares of the company’s stock worth $103,000 after purchasing an additional 11,051 shares in the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.

Crescent Energy Stock Performance

CRGY opened at $11.95 on Thursday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.07. The firm has a market cap of $3.92 billion, a PE ratio of 22.98 and a beta of 1.57. The business has a fifty day simple moving average of $9.75 and a 200-day simple moving average of $9.17. Crescent Energy Company has a fifty-two week low of $6.83 and a fifty-two week high of $12.40.

Crescent Energy (NYSE:CRGY) last announced its earnings results on Wednesday, February 25th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.19. Crescent Energy had a return on equity of 8.36% and a net margin of 3.71%.The company had revenue of $865.05 million for the quarter, compared to analyst estimates of $884.64 million. As a group, equities analysts predict that Crescent Energy Company will post 0.77 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.48 dividend on an annualized basis and a yield of 4.0%. Crescent Energy’s dividend payout ratio is currently 92.31%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CRGY shares. Jefferies Financial Group reaffirmed a “hold” rating and set a $9.00 price target on shares of Crescent Energy in a research note on Sunday, January 25th. William Blair reaffirmed an “outperform” rating on shares of Crescent Energy in a research note on Friday, March 6th. Wells Fargo & Company lowered their target price on Crescent Energy from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, January 27th. BMO Capital Markets began coverage on shares of Crescent Energy in a report on Friday, January 9th. They issued a “market perform” rating and a $10.00 price target for the company. Finally, Piper Sandler raised their price objective on shares of Crescent Energy from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.67.

Crescent Energy 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.