Pacer Advisors Inc. Raises Stock Holdings in Crescent Energy Company $CRGY

Pacer Advisors Inc. increased its holdings in shares of Crescent Energy Company (NYSE:CRGY) by 13.3% during the first quarter, HoldingsChannel.com reports. The fund owned 1,948,082 shares of the company’s stock after buying an additional 228,327 shares during the quarter. Pacer Advisors Inc.’s holdings in Crescent Energy were worth $26,299,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Royal Bank of Canada increased its position in shares of Crescent Energy by 16.1% during the 1st quarter. Royal Bank of Canada now owns 58,900 shares of the company’s stock valued at $662,000 after purchasing an additional 8,173 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Crescent Energy by 8.9% in the 1st quarter. AQR Capital Management LLC now owns 17,104 shares of the company’s stock worth $192,000 after buying an additional 1,397 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in 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 valued at $1,109,000 after buying an additional 6,184 shares during the period. Goldman Sachs Group Inc. grew its position in Crescent Energy by 42.0% during the first quarter. Goldman Sachs Group Inc. now owns 3,969,411 shares of the company’s stock valued at $44,616,000 after buying an additional 1,174,576 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in 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 buying an additional 59,199 shares during the last quarter. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of Crescent Energy from $14.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Stephens reissued an “overweight” rating and set a $18.00 target price on shares of Crescent Energy in a research report on Tuesday, May 5th. Mizuho raised their price target on shares of Crescent Energy from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. Morgan Stanley cut shares of Crescent Energy to an “underweight” rating in a report on Monday. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $19.00 price objective on shares of Crescent Energy in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Crescent Energy has a consensus rating of “Moderate Buy” and an average target price of $15.67.

Crescent Energy Trading Down 0.3%

Shares of CRGY opened at $11.43 on Tuesday. Crescent Energy Company has a fifty-two week low of $7.68 and a fifty-two week high of $14.29. The business has a 50-day moving average of $10.77 and a 200 day moving average of $11.33. The firm has a market cap of $3.77 billion, a P/E ratio of -15.24 and a beta of 1.41. 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 released its quarterly earnings data on Monday, August 3rd. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.59 by $0.10. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.26 billion. Crescent Energy had a negative net margin of 7.47% and a positive return on equity of 8.10%. Crescent Energy’s revenue for the quarter was up 55.3% on a year-over-year basis. As a group, research analysts forecast that Crescent Energy Company will post 1.78 EPS for the current year.

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.