Hotchkis & Wiley Capital Management LLC Raises Holdings in Crescent Energy (NYSE:CRGY)

Hotchkis & Wiley Capital Management LLC boosted its holdings in Crescent Energy (NYSE:CRGY - Free Report) by 77.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,029,818 shares of the company's stock after acquiring an additional 1,324,328 shares during the period. Hotchkis & Wiley Capital Management LLC owned 1.71% of Crescent Energy worth $33,177,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. CWM LLC increased its position in shares of Crescent Energy by 618.9% during the second quarter. CWM LLC now owns 2,128 shares of the company's stock worth $25,000 after acquiring an additional 1,832 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Crescent Energy during the second quarter worth $32,000. Spirit of America Management Corp NY acquired a new position in shares of Crescent Energy during the second quarter worth $36,000. Farther Finance Advisors LLC grew its stake in shares of Crescent Energy by 15,675.0% during the third quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company's stock worth $35,000 after purchasing an additional 3,135 shares in the last quarter. Finally, Amalgamated Bank grew its stake in shares of Crescent Energy by 86.4% during the third quarter. Amalgamated Bank now owns 4,903 shares of the company's stock worth $54,000 after purchasing an additional 2,272 shares in the last quarter. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Crescent Energy Stock Performance

NYSE CRGY traded down $0.65 during trading hours on Wednesday, hitting $14.49. 19,234,213 shares of the stock were exchanged, compared to its average volume of 2,401,302. The company has a market cap of $3.31 billion, a price-to-earnings ratio of 24.43 and a beta of 2.17. Crescent Energy has a 12-month low of $9.88 and a 12-month high of $15.54. The stock has a 50-day moving average of $13.18 and a 200 day moving average of $12.22. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12.

Crescent Energy (NYSE:CRGY - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $744.87 million during the quarter, compared to analysts' expectations of $793.88 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. During the same period in the prior year, the company posted $0.35 earnings per share. As a group, equities research analysts forecast that Crescent Energy will post 0.97 earnings per share for the current year.

Crescent Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were issued a $0.12 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.48 dividend on an annualized basis and a yield of 3.31%. Crescent Energy's dividend payout ratio (DPR) is presently 77.42%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CRGY shares. Raymond James boosted their target price on shares of Crescent Energy from $19.00 to $20.00 and gave the stock a "strong-buy" rating in a research note on Thursday, November 21st. Evercore ISI restated an "outperform" rating and issued a $17.00 price objective on shares of Crescent Energy in a research note on Tuesday, September 24th. Mizuho upped their price objective on shares of Crescent Energy from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. Stephens upped their price objective on shares of Crescent Energy from $15.00 to $16.00 and gave the company an "overweight" rating in a research note on Monday, October 28th. Finally, Pickering Energy Partners started coverage on shares of Crescent Energy in a research note on Monday, October 28th. They issued an "outperform" rating for the company. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Crescent Energy currently has a consensus rating of "Buy" and an average target price of $16.30.

About Crescent Energy

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.