Pacer Advisors Inc. Sells 126,607 Shares of Crescent Energy Company $CRGY

Pacer Advisors Inc. reduced its stake in shares of Crescent Energy Company (NYSE:CRGY) by 6.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,719,755 shares of the company’s stock after selling 126,607 shares during the quarter. Pacer Advisors Inc.’s holdings in Crescent Energy were worth $14,429,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CRGY. Caitlin John LLC bought a new stake in Crescent Energy in the 3rd quarter valued at $27,000. Fifth Third Bancorp increased its holdings in shares of Crescent Energy by 109.3% during the 4th quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock worth $33,000 after purchasing an additional 2,039 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in shares of Crescent Energy by 134.5% during 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 raised its position in shares of Crescent Energy by 303.5% during the third quarter. Quarry LP now owns 4,152 shares of the company’s stock valued at $37,000 after buying an additional 3,123 shares during the last quarter. Finally, Allworth Financial LP raised its position in shares of Crescent Energy by 42.3% during the fourth quarter. Allworth Financial LP now owns 4,712 shares of the company’s stock valued at $40,000 after buying an additional 1,401 shares during the last quarter. 52.11% of the stock is owned by institutional investors.

Crescent Energy Price Performance

NYSE:CRGY opened at $10.43 on Friday. The company has a 50-day moving average of $12.34 and a 200-day moving average of $10.96. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of -13.90 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 company has a debt-to-equity ratio of 1.12, a quick ratio of 0.57 and a current ratio of 0.57.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.14. Crescent Energy had a negative net margin of 7.47% and a positive return on equity of 8.10%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the business posted $0.57 earnings per share. The company’s quarterly revenue was up 24.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Crescent Energy Company will post 1.99 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Monday, May 18th. Crescent Energy’s dividend payout ratio is currently -64.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company increased their target price on shares of Crescent Energy from $14.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. KeyCorp restated an “overweight” rating and set a $19.00 price target on shares of Crescent Energy in a research note on Thursday, June 11th. Mizuho upped their price target on Crescent Energy from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. William Blair reiterated an “outperform” rating on shares of Crescent Energy in a research report on Friday, March 6th. Finally, Piper Sandler lifted their price objective on Crescent Energy from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Crescent Energy currently has an average rating of “Moderate Buy” and an average target price of $15.82.

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.