VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Position in Crescent Energy Company $CRGY

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Crescent Energy Company (NYSE:CRGY) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 179,400 shares of the company’s stock, valued at approximately $1,762,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.05% of Crescent Energy as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of CRGY. Strs Ohio bought a new position in shares of Crescent Energy in the first quarter valued at approximately $32,000. Nomura Asset Management Co. Ltd. lifted its stake in Crescent Energy by 134.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock valued at $33,000 after acquiring an additional 2,286 shares in the last quarter. Quarry LP lifted its stake in Crescent Energy by 303.5% during the 3rd quarter. Quarry LP now owns 4,152 shares of the company’s stock valued at $37,000 after acquiring an additional 3,123 shares in the last quarter. Allworth Financial LP boosted its holdings in Crescent Energy by 42.3% during the 4th quarter. Allworth Financial LP now owns 4,712 shares of the company’s stock worth $40,000 after acquiring an additional 1,401 shares during the last quarter. Finally, Osaic Holdings Inc. grew its stake in shares of Crescent Energy by 25.2% in the 2nd quarter. Osaic Holdings Inc. now owns 5,301 shares of the company’s stock worth $46,000 after acquiring an additional 1,066 shares in the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Stock Up 1.8%

Shares of NYSE CRGY opened at $14.66 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $4.85 billion, a PE ratio of -293.24 and a beta of 1.45. Crescent Energy Company has a one year low of $7.68 and a one year high of $14.67. The business’s fifty day moving average price is $12.04 and its 200-day moving average price is $12.05.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Crescent Energy had a return on equity of 10.52% and a net margin of 1.27%.Crescent Energy’s quarterly revenue was up 55.3% compared to the same quarter last year. On average, equities research analysts anticipate that Crescent Energy Company will post 2.07 EPS for the current year.

Crescent Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 17th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Monday, August 17th. Crescent Energy’s payout ratio is currently -960.00%.

Wall Street Analyst Weigh In

CRGY has been the topic of several analyst reports. Wall Street Zen upgraded shares of Crescent Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. KeyCorp reaffirmed an “overweight” rating and issued a $19.00 target price on shares of Crescent Energy in a report on Thursday, June 11th. UBS Group lifted their price target on Crescent Energy from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Morgan Stanley cut Crescent Energy to an “underweight” rating in a research report on Monday, August 3rd. Finally, Mizuho raised their target price on Crescent Energy from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

About Crescent Energy

Crescent Energy Company (NYSE: CRGY) is an independent energy company engaged in the acquisition, development and operation of oil and natural gas properties in the United States. Its activities include drilling, production, field operations and the management of onshore energy assets.

The company maintains a portfolio of producing and development properties in several U.S. regions, including the Eagle Ford, Uinta and Rocky Mountain areas. Its operations are focused primarily on crude oil, natural gas and natural gas liquids, with an emphasis on acquiring established assets and improving their production and operating performance.

Crescent Energy was formed in 2021 through the combination of Crescent Energy and Independence Energy, bringing together portfolios backed by private-equity investment.