Kore Advisors LP Buys 73,600 Shares of Crescent Energy Company $CRGY

Kore Advisors LP lifted its holdings in shares of Crescent Energy Company (NYSE:CRGY) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,552,856 shares of the company’s stock after purchasing an additional 73,600 shares during the quarter. Crescent Energy accounts for about 9.5% of Kore Advisors LP’s portfolio, making the stock its 2nd biggest position. Kore Advisors LP owned about 0.61% of Crescent Energy worth $13,028,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CRGY. Royal Bank of Canada raised its position in shares of Crescent Energy by 16.1% during the first quarter. Royal Bank of Canada now owns 58,900 shares of the company’s stock worth $662,000 after purchasing an additional 8,173 shares during the period. AQR Capital Management LLC raised its position in shares of Crescent Energy by 8.9% during the first quarter. AQR Capital Management LLC now owns 17,104 shares of the company’s stock worth $192,000 after purchasing an additional 1,397 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Crescent Energy by 6.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,670 shares of the company’s stock worth $1,109,000 after purchasing an additional 6,184 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Crescent Energy by 42.0% during the first quarter. Goldman Sachs Group Inc. now owns 3,969,411 shares of the company’s stock worth $44,616,000 after purchasing an additional 1,174,576 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Crescent Energy by 32.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 244,456 shares of the company’s stock worth $2,748,000 after purchasing an additional 59,199 shares during the period. Institutional investors and hedge funds own 52.11% of the company’s stock.

Crescent Energy Stock Up 0.7%

NYSE:CRGY opened at $11.57 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.57 and a current ratio of 0.57. The company has a market cap of $3.82 billion, a PE ratio of -15.42 and a beta of 1.37. Crescent Energy Company has a 52-week low of $7.68 and a 52-week high of $14.29. The stock has a 50-day simple moving average of $12.60 and a 200 day simple moving average of $10.91.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $1.15 billion. Crescent Energy had a positive return on equity of 8.10% and a negative net margin of 7.47%.The business’s revenue was up 24.5% compared to the same quarter last year. During the same period last year, the company earned $0.57 earnings per share. On average, sell-side analysts expect that Crescent Energy Company will post 1.99 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Monday, May 18th. Crescent Energy’s dividend payout ratio (DPR) is currently -64.00%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Zacks Research raised Crescent Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 3rd. Wall Street Zen raised Crescent Energy from a “hold” rating to a “buy” rating in a research report on Sunday, May 10th. KeyCorp reiterated an “overweight” rating and set a $19.00 price objective on shares of Crescent Energy in a report on Thursday. Stephens reiterated an “overweight” rating and set a $18.00 price objective on shares of Crescent Energy in a report on Tuesday, May 5th. Finally, Wells Fargo & Company increased their price objective on Crescent Energy from $14.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Crescent Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

About Crescent Energy

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.