Crescent Energy Company $CRGY Shares Acquired by Van Den Berg Management I Inc.

Van Den Berg Management I Inc. lifted its position in shares of Crescent Energy Company (NYSE:CRGY) by 63.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 218,153 shares of the company’s stock after acquiring an additional 85,073 shares during the quarter. Van Den Berg Management I Inc.’s holdings in Crescent Energy were worth $1,830,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CRGY. Caitlin John LLC acquired a new stake in shares of Crescent Energy during the 3rd quarter valued at approximately $27,000. Fifth Third Bancorp raised its position in shares of Crescent Energy by 109.3% during the 4th quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock valued at $33,000 after acquiring an additional 2,039 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position 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 valued at $33,000 after acquiring an additional 2,286 shares in the last quarter. Quarry LP raised its position in shares of 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. Finally, Allworth Financial LP raised its position in shares of Crescent Energy by 42.3% during the 4th quarter. Allworth Financial LP now owns 4,712 shares of the company’s stock valued at $40,000 after acquiring an additional 1,401 shares in the last quarter. 52.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Johnson Rice reissued an “accumulate” rating and set a $19.00 price target on shares of Crescent Energy in a research report on Wednesday, March 25th. JPMorgan Chase & Co. raised Crescent Energy from a “neutral” rating to an “overweight” rating and set a $19.00 price target on the stock in a research report on Friday, March 20th. Raymond James Financial reissued a “strong-buy” rating and set a $20.00 price target on shares of Crescent Energy in a research report on Thursday, April 30th. KeyCorp reissued an “overweight” rating and set a $19.00 price target on shares of Crescent Energy in a research report on Thursday, June 11th. Finally, Mizuho increased their target price on Crescent Energy from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Crescent Energy currently has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Crescent Energy Price Performance

Shares of NYSE CRGY opened at $10.83 on Wednesday. Crescent Energy Company has a 1-year low of $7.68 and a 1-year high of $14.29. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.57 and a quick ratio of 0.57. The business’s fifty day moving average price is $12.50 and its two-hundred day moving average price is $10.95. The firm has a market capitalization of $3.58 billion, a PE ratio of -14.44 and a beta of 1.37.

Crescent Energy (NYSE:CRGY) last issued its earnings results on Monday, May 4th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate 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 positive return on equity of 8.10% and a negative net margin of 7.47%.The firm’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same period last year, the company earned $0.57 earnings per share. On average, research analysts expect that Crescent Energy Company will post 1.99 EPS for the current year.

Crescent Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, May 18th. Crescent Energy’s dividend payout ratio (DPR) 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.