Crescent Energy Company $CRGY Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. grew its stake in Crescent Energy Company (NYSE:CRGY) by 53.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,119,187 shares of the company’s stock after purchasing an additional 388,604 shares during the quarter. Victory Capital Management Inc. owned approximately 0.44% of Crescent Energy worth $9,983,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of CRGY. Royce & Associates LP increased its holdings in Crescent Energy by 1.1% in the third quarter. Royce & Associates LP now owns 161,120 shares of the company’s stock valued at $1,437,000 after buying an additional 1,778 shares during the last quarter. Rafferty Asset Management LLC grew its position in shares of Crescent Energy by 33.0% in the 3rd quarter. Rafferty Asset Management LLC now owns 306,059 shares of the company’s stock worth $2,730,000 after acquiring an additional 75,995 shares in the last quarter. American Century Companies Inc. grew its position in shares of Crescent Energy by 8.0% in the 3rd quarter. American Century Companies Inc. now owns 19,363,386 shares of the company’s stock worth $172,721,000 after acquiring an additional 1,434,789 shares in the last quarter. Quantbot Technologies LP raised its position in shares of Crescent Energy by 37.5% during the 3rd quarter. Quantbot Technologies LP now owns 452,963 shares of the company’s stock valued at $4,040,000 after acquiring an additional 123,653 shares in the last quarter. Finally, Caitlin John LLC acquired a new stake in shares of Crescent Energy during the 3rd quarter valued at approximately $27,000. Institutional investors own 52.11% of the company’s stock.

Crescent Energy Stock Performance

CRGY stock opened at $11.95 on Thursday. Crescent Energy Company has a 1 year low of $6.83 and a 1 year high of $12.40. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 22.98 and a beta of 1.57. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.48 and a current ratio of 1.48. The stock’s fifty day moving average is $9.75 and its two-hundred day moving average is $9.17.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.19. The business had revenue of $865.05 million for the quarter, compared to analysts’ expectations of $884.64 million. Crescent Energy had a net margin of 3.71% and a return on equity of 8.36%. On average, research analysts predict that Crescent Energy Company will post 0.77 EPS for the current year.

Crescent Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, March 11th. This represents a $0.48 annualized dividend and a dividend yield of 4.0%. Crescent Energy’s payout ratio is currently 92.31%.

Analysts Set New Price Targets

A number of research firms have commented on CRGY. Piper Sandler lifted their price objective on shares of Crescent Energy from $13.00 to $14.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. Zacks Research upgraded shares of Crescent Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 20th. William Blair reaffirmed an “outperform” rating on shares of Crescent Energy in a research report on Friday, March 6th. Evercore assumed coverage on shares of Crescent Energy in a research note on Tuesday, December 16th. They set an “outperform” rating and a $13.00 price objective on the stock. Finally, BMO Capital Markets began coverage on Crescent Energy in a research note on Friday, January 9th. They issued a “market perform” rating and a $10.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Crescent Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.67.

About Crescent Energy

Crescent Energy Co (NYSE: CRGY) is an independent exploration and production company focused on the acquisition, development and production of oil and natural gas resources in North America. Headquartered in Oklahoma City, the company’s core business activities include the identification and appraisal of prospective acreage, the design and execution of drilling and completion programs, and the ongoing operation and optimization of producing wells. Crescent Energy’s integrated approach emphasizes capital efficiency, reservoir quality and operational reliability to support sustainable cash flow generation over the commodity cycle.

Crescent Energy’s operations are concentrated in the Permian Basin, with a particular focus on the Delaware Basin’s stacked pay intervals.