Fisher Asset Management LLC Grows Stock Position in Crescent Energy Company $CRGY

Fisher Asset Management LLC boosted its position in Crescent Energy Company (NYSE:CRGY) by 29.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 667,073 shares of the company’s stock after purchasing an additional 153,073 shares during the period. Fisher Asset Management LLC’s holdings in Crescent Energy were worth $5,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Legal & General Group Plc increased its position in Crescent Energy by 27.5% in the fourth quarter. Legal & General Group Plc now owns 585,827 shares of the company’s stock worth $4,915,000 after buying an additional 126,330 shares during the last quarter. Hantz Financial Services Inc. increased its position in Crescent Energy by 84.0% in the fourth quarter. Hantz Financial Services Inc. now owns 11,076 shares of the company’s stock worth $93,000 after buying an additional 5,058 shares during the last quarter. Mraz Amerine & Associates Inc. increased its position in Crescent Energy by 5.9% in the fourth quarter. Mraz Amerine & Associates Inc. now owns 217,810 shares of the company’s stock worth $1,827,000 after buying an additional 12,163 shares during the last quarter. Callahan Advisors LLC grew its position in shares of Crescent Energy by 46.6% in the fourth quarter. Callahan Advisors LLC now owns 106,179 shares of the company’s stock valued at $891,000 after purchasing an additional 33,774 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Crescent Energy by 99.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 31,339 shares of the company’s stock valued at $263,000 after purchasing an additional 15,590 shares in the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Price Performance

Crescent Energy stock opened at $11.84 on Friday. Crescent Energy Company has a 52 week low of $7.68 and a 52 week high of $14.29. The business has a 50-day simple moving average of $12.88 and a 200 day simple moving average of $10.71. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.12. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of -15.78 and a beta of 1.44.

Crescent Energy (NYSE:CRGY) last posted its earnings results on Monday, May 4th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.39 by $0.14. Crescent Energy had a positive return on equity of 8.10% and a negative net margin of 7.47%.The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the business earned $0.57 earnings per share. The firm’s revenue was up 24.5% on a year-over-year basis. On average, research analysts forecast that Crescent Energy Company will post 1.84 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.1%. The ex-dividend date is Monday, May 18th. Crescent Energy’s payout ratio is presently -64.00%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CRGY. Piper Sandler lifted their price target on Crescent Energy from $14.00 to $16.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Zacks Research upgraded Crescent Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 3rd. William Blair reiterated an “outperform” rating on shares of Crescent Energy in a research report on Friday, March 6th. KeyCorp lifted their price target on Crescent Energy from $15.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. Finally, Stephens reiterated an “overweight” rating and issued a $18.00 price target on shares of Crescent Energy in a research report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.00.

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.