Royce & Associates LP Invests $11.15 Million in Crescent Energy (NYSE:CRGY)

Royce & Associates LP purchased a new stake in shares of Crescent Energy (NYSE:CRGY) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 1,017,856 shares of the company’s stock, valued at approximately $11,146,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRGY. Jackson Creek Investment Advisors LLC increased its stake in shares of Crescent Energy by 1.0% during the second quarter. Jackson Creek Investment Advisors LLC now owns 90,933 shares of the company’s stock valued at $1,078,000 after purchasing an additional 883 shares in the last quarter. ProShare Advisors LLC increased its position in Crescent Energy by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 13,856 shares of the company’s stock valued at $165,000 after buying an additional 1,085 shares in the last quarter. Quadrature Capital Ltd raised its stake in Crescent Energy by 5.1% during the first quarter. Quadrature Capital Ltd now owns 30,744 shares of the company’s stock valued at $366,000 after buying an additional 1,503 shares during the last quarter. CWM LLC boosted its holdings 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 in the last quarter. Finally, Amalgamated Bank grew its stake in shares of Crescent Energy by 86.4% in the third quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock worth $54,000 after acquiring an additional 2,272 shares during the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CRGY has been the topic of a number of analyst reports. Truist Financial dropped their price target on shares of Crescent Energy from $19.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Mizuho upped their target price on shares of Crescent Energy from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Pickering Energy Partners initiated coverage on shares of Crescent Energy in a report on Monday, October 28th. They issued an “outperform” rating for the company. Stephens increased their target price on Crescent Energy from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Finally, Wells Fargo & Company decreased their price target on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Two investment 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $15.80.

Crescent Energy Price Performance

Shares of NYSE:CRGY opened at $13.76 on Friday. 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 stock has a market capitalization of $2.44 billion, a PE ratio of 22.19 and a beta of 2.19. The firm’s 50 day moving average price is $12.25 and its 200-day moving average price is $11.95. Crescent Energy has a twelve month low of $9.88 and a twelve month high of $14.18.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.11. The firm had revenue of $744.87 million during the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $0.35 EPS. Equities research analysts expect that Crescent Energy will post 0.97 EPS for the current year.

Crescent Energy Dividend Announcement

The company also recently disclosed 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 77.42%.

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.