Royce & Associates LP Buys Shares of 1,017,856 Crescent Energy (NYSE:CRGY)

Royce & Associates LP purchased a new position in shares of Crescent Energy (NYSE:CRGY - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,017,856 shares of the company's stock, valued at approximately $11,146,000. Royce & Associates LP owned 0.57% of Crescent Energy as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CRGY. Jupiter Asset Management Ltd. purchased a new position in shares of Crescent Energy in the first quarter valued at $2,877,000. Moody National Bank Trust Division bought a new position in shares of Crescent Energy during the second quarter worth about $769,000. Interval Partners LP bought a new stake in shares of Crescent Energy during the second quarter valued at approximately $1,835,000. Susquehanna Fundamental Investments LLC acquired a new position in Crescent Energy during the 2nd quarter worth $3,496,000. Finally, Boston Partners bought a new stake in Crescent Energy during the first quarter worth approximately $630,000. Institutional investors and hedge funds own 52.11% of the company's stock.

Crescent Energy Trading Down 1.6 %

NYSE:CRGY traded down $0.23 during trading hours on Friday, hitting $13.76. 1,234,674 shares of the stock were exchanged, compared to its average volume of 1,913,587. The company has a market capitalization of $3.14 billion, a P/E ratio of 22.19 and a beta of 2.19. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. The company's 50 day moving average is $12.25 and its two-hundred day moving average is $11.96. Crescent Energy has a twelve month low of $9.88 and a twelve month high of $14.18.

Crescent Energy (NYSE:CRGY - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.11. The company had revenue of $744.87 million for the quarter, compared to analyst estimates of $793.88 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. During the same quarter last year, the firm earned $0.35 EPS. On average, sell-side analysts anticipate that Crescent Energy will post 0.97 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $0.12 per share. The ex-dividend date is Monday, November 18th. This represents a $0.48 annualized dividend and a dividend yield of 3.49%. Crescent Energy's payout ratio is currently 77.42%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Pickering Energy Partners started coverage on shares of Crescent Energy in a report on Monday, October 28th. They issued an "outperform" rating for the company. JPMorgan Chase & Co. assumed coverage on Crescent Energy in a research note on Wednesday, September 18th. They issued a "neutral" rating and a $12.00 price objective on the stock. Mizuho raised their target price on Crescent Energy from $13.00 to $14.00 and gave the company a "neutral" rating in a report on Tuesday, November 5th. Stephens raised their price objective on Crescent Energy from $15.00 to $16.00 and gave the stock an "overweight" rating in a research report on Monday, October 28th. Finally, Evercore ISI reiterated an "outperform" rating and set a $17.00 price target on shares of Crescent Energy in a research note on Tuesday, September 24th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $15.80.

Crescent Energy Profile

Crescent Energy Company acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. Its portfolio of assets comprises mid-cycle unconventional and conventional assets in the Eagle Ford and Uinta Basins. It also owns and operates various midstream assets, which provide services to customers.