Victory Capital Management Inc. Raises Stock Position in Crescent Energy (NYSE:CRGY)

Victory Capital Management Inc. lifted its position in Crescent Energy (NYSE:CRGY - Free Report) by 7.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 708,205 shares of the company's stock after purchasing an additional 46,448 shares during the quarter. Victory Capital Management Inc. owned 0.40% of Crescent Energy worth $7,755,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jackson Creek Investment Advisors LLC lifted its holdings in Crescent Energy by 1.0% in the second quarter. Jackson Creek Investment Advisors LLC now owns 90,933 shares of the company's stock worth $1,078,000 after buying an additional 883 shares during the period. ProShare Advisors LLC lifted its holdings in Crescent Energy by 8.5% in the first quarter. ProShare Advisors LLC now owns 13,856 shares of the company's stock valued at $165,000 after acquiring an additional 1,085 shares during the period. Quadrature Capital Ltd lifted its stake in shares of Crescent Energy by 5.1% in the 1st quarter. Quadrature Capital Ltd now owns 30,744 shares of the company's stock worth $366,000 after purchasing an additional 1,503 shares during the period. CWM LLC raised its position in Crescent Energy by 618.9% in 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. Finally, Amalgamated Bank lifted its position in Crescent Energy by 86.4% during the third quarter. Amalgamated Bank now owns 4,903 shares of the company's stock valued at $54,000 after purchasing an additional 2,272 shares in the last quarter. Hedge funds and other institutional investors own 52.11% of the company's stock.

Crescent Energy Trading Up 0.6 %

CRGY traded up $0.09 on Friday, hitting $15.27. The company had a trading volume of 2,691,594 shares, compared to its average volume of 2,348,770. The company's fifty day moving average price is $12.68 and its 200 day moving average price is $12.08. The firm has a market cap of $3.48 billion, a P/E ratio of 24.62 and a beta of 2.19. Crescent Energy has a 1 year low of $9.88 and a 1 year high of $15.54. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12.

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, beating the consensus estimate of $0.28 by $0.11. The business had revenue of $744.87 million for the quarter, compared to analysts' expectations of $793.88 million. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. During the same period last year, the firm earned $0.35 earnings per share. As a group, equities analysts expect that Crescent Energy will post 0.97 earnings per share for the current year.

Crescent Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.14%. The ex-dividend date is Monday, November 18th. Crescent Energy's payout ratio is currently 77.42%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Pickering Energy Partners initiated coverage on shares of Crescent Energy in a research note on Monday, October 28th. They set an "outperform" rating on the stock. Mizuho increased their target price on Crescent Energy from $13.00 to $14.00 and gave the company a "neutral" rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. began coverage on Crescent Energy in a research report on Wednesday, September 18th. They issued a "neutral" rating and a $12.00 price target for the company. Raymond James boosted their price objective on shares of Crescent Energy from $19.00 to $20.00 and gave the company a "strong-buy" rating in a research report on Thursday. Finally, Truist Financial reduced their price target on Crescent Energy from $19.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Crescent Energy currently has an average rating of "Buy" and a consensus target price of $16.30.

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.