Rafferty Asset Management LLC Boosts Holdings in Crescent Energy Company $CRGY

Rafferty Asset Management LLC raised its position in shares of Crescent Energy Company (NYSE:CRGY) by 33.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 306,059 shares of the company’s stock after acquiring an additional 75,995 shares during the period. Rafferty Asset Management LLC’s holdings in Crescent Energy were worth $2,730,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CRGY. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Crescent Energy in the 3rd quarter worth about $1,034,000. Y Intercept Hong Kong Ltd increased its stake in Crescent Energy by 208.0% in the second quarter. Y Intercept Hong Kong Ltd now owns 60,849 shares of the company’s stock worth $523,000 after purchasing an additional 41,091 shares during the period. Capital Fund Management S.A. lifted its position in shares of Crescent Energy by 346.3% during the second quarter. Capital Fund Management S.A. now owns 439,593 shares of the company’s stock worth $3,780,000 after purchasing an additional 341,101 shares during the last quarter. Kore Advisors LP lifted its position in shares of Crescent Energy by 17.0% during the second quarter. Kore Advisors LP now owns 1,479,256 shares of the company’s stock worth $12,722,000 after purchasing an additional 214,939 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in shares of Crescent Energy by 15.7% during the third quarter. Public Sector Pension Investment Board now owns 724,991 shares of the company’s stock valued at $6,467,000 after purchasing an additional 98,428 shares during the period. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Analyst Upgrades and Downgrades

CRGY has been the topic of several recent analyst reports. Mizuho raised their price target on shares of Crescent Energy from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Weiss Ratings upgraded shares of Crescent Energy from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, February 27th. Jefferies Financial Group reaffirmed a “hold” rating and set a $9.00 price target on shares of Crescent Energy in a research note on Sunday, January 25th. Evercore began coverage on Crescent Energy in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $13.00 price objective on the stock. Finally, Wells Fargo & Company decreased their target price on Crescent Energy from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $12.56.

Crescent Energy Trading Up 2.6%

NYSE:CRGY opened at $11.53 on Thursday. The firm has a 50-day simple moving average of $9.40 and a 200-day simple moving average of $9.08. Crescent Energy Company has a one year low of $6.83 and a one year high of $12.40. The firm has a market cap of $2.94 billion, a P/E ratio of 22.17 and a beta of 1.57. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.48 and a current ratio of 1.48.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.19. The company had revenue of $865.05 million for the quarter, compared to analyst estimates of $884.64 million. Crescent Energy had a net margin of 3.71% and a return on equity of 8.36%. Equities analysts anticipate that Crescent Energy Company will post 0.77 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, March 11th. Crescent Energy’s payout ratio is presently 92.31%.

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.