Empowered Funds LLC Grows Stock Holdings in Crescent Energy (NYSE:CRGY)

Empowered Funds LLC boosted its holdings in Crescent Energy (NYSE:CRGY - Free Report) by 11.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 925,301 shares of the company's stock after buying an additional 94,948 shares during the period. Empowered Funds LLC owned 0.52% of Crescent Energy worth $10,132,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. American Century Companies Inc. raised its stake in Crescent Energy by 444.8% during the 2nd quarter. American Century Companies Inc. now owns 7,775,940 shares of the company's stock valued at $92,145,000 after purchasing an additional 6,348,598 shares during the period. Marshall Wace LLP raised its position in shares of Crescent Energy by 286.7% during the second quarter. Marshall Wace LLP now owns 2,830,118 shares of the company's stock valued at $33,537,000 after buying an additional 2,098,303 shares during the last quarter. Zimmer Partners LP bought a new stake in shares of Crescent Energy during the first quarter valued at approximately $17,731,000. Dimensional Fund Advisors LP lifted its holdings in shares of Crescent Energy by 85.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,656,222 shares of the company's stock worth $31,477,000 after buying an additional 1,226,027 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Crescent Energy by 13.9% during the first quarter. Vanguard Group Inc. now owns 9,308,793 shares of the company's stock worth $110,775,000 after acquiring an additional 1,137,367 shares during the last quarter. 52.11% of the stock is owned by institutional investors.

Crescent Energy Trading Down 1.6 %

CRGY stock traded down $0.23 during mid-day trading on Friday, reaching $13.76. 1,234,674 shares of the stock traded hands, compared to its average volume of 2,345,488. The business has a 50-day moving average price of $12.25 and a two-hundred day moving average price of $11.95. The stock has a market capitalization of $2.44 billion, a PE ratio of 22.19 and a beta of 2.19. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. Crescent Energy has a one year low of $9.88 and a one year high of $14.18.

Crescent Energy (NYSE:CRGY - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.11. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. The business had revenue of $744.87 million during the quarter, compared to the consensus estimate of $793.88 million. During the same quarter last year, the firm earned $0.35 earnings per share. Equities research analysts expect that Crescent Energy will post 0.97 EPS for the current year.

Crescent Energy Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Stephens lifted their price target on shares of Crescent Energy from $15.00 to $16.00 and gave the company an "overweight" rating in a report on Monday, October 28th. Truist Financial decreased their target price on Crescent Energy from $19.00 to $15.00 and set a "buy" rating on the stock in a research report on Monday, September 30th. JPMorgan Chase & Co. started coverage on Crescent Energy in a research note on Wednesday, September 18th. They set a "neutral" rating and a $12.00 price target for the company. Evercore ISI reaffirmed an "outperform" rating and issued a $17.00 price objective on shares of Crescent Energy in a research note on Tuesday, September 24th. Finally, Wells Fargo & Company lowered their target price on Crescent Energy from $20.00 to $19.00 and set an "overweight" rating for the company in a research report on Monday, October 21st. Two investment 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, Crescent Energy presently has an average rating of "Buy" and an average price target 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.