Empowered Funds LLC Buys 91,388 Shares of Crescent Energy Company $CRGY

Empowered Funds LLC increased its position in shares of Crescent Energy Company (NYSE:CRGY) by 7.3% during the first quarter, Holdings Channel reports. The institutional investor owned 1,341,270 shares of the company’s stock after purchasing an additional 91,388 shares during the quarter. Empowered Funds LLC’s holdings in Crescent Energy were worth $18,107,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Strs Ohio acquired a new position in Crescent Energy in the 1st quarter valued at approximately $32,000. Fifth Third Bancorp lifted its position in shares of Crescent Energy by 109.3% in the 4th quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock worth $33,000 after acquiring an additional 2,039 shares during the period. Nomura Asset Management Co. Ltd. grew 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 in the last quarter. Quarry LP grew its holdings in shares of Crescent Energy by 303.5% during the 3rd quarter. Quarry LP now owns 4,152 shares of the company’s stock worth $37,000 after purchasing an additional 3,123 shares in the last quarter. Finally, Allworth Financial LP increased 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 purchasing an additional 1,401 shares during the period. 52.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CRGY shares. Mizuho upped their target price on Crescent Energy from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. Weiss Ratings downgraded shares of Crescent Energy from a “hold (c)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Zacks Research lowered shares of Crescent Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. UBS Group began coverage on shares of Crescent Energy in a research note on Tuesday, July 14th. They issued a “buy” rating and a $13.00 price objective for the company. Finally, Stephens reaffirmed an “overweight” rating and set a $18.00 price objective on shares of Crescent Energy in a report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Crescent Energy presently has an average rating of “Moderate Buy” and a consensus target price of $15.58.

Crescent Energy Trading Down 0.0%

Shares of Crescent Energy stock opened at $10.47 on Wednesday. Crescent Energy Company has a 12-month low of $7.68 and a 12-month high of $14.29. The stock has a market capitalization of $3.46 billion, a P/E ratio of -13.97 and a beta of 1.40. The company has a 50-day simple moving average of $10.93 and a 200 day simple moving average of $11.24. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.12.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings results on Monday, May 4th. The company reported $0.53 EPS 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 company’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 earnings per share. Research analysts expect that Crescent Energy Company will post 1.78 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

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

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.