Kohlberg Kravis Roberts & Co. L.P. Acquires 1,897,230 Shares of Crescent Energy Company $CRGY

Kohlberg Kravis Roberts & Co. L.P. raised its stake in Crescent Energy Company (NYSE:CRGY) by 7.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 28,655,357 shares of the company’s stock after acquiring an additional 1,897,230 shares during the period. Crescent Energy accounts for approximately 7.2% of Kohlberg Kravis Roberts & Co. L.P.’s holdings, making the stock its 4th biggest position. Kohlberg Kravis Roberts & Co. L.P. owned about 0.09% of Crescent Energy worth $386,847,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Royal Bank of Canada grew its holdings in shares of Crescent Energy by 16.1% in the 1st quarter. Royal Bank of Canada now owns 58,900 shares of the company’s stock worth $662,000 after acquiring an additional 8,173 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Crescent Energy by 8.9% during the first quarter. AQR Capital Management LLC now owns 17,104 shares of the company’s stock valued at $192,000 after purchasing an additional 1,397 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Crescent Energy by 6.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,670 shares of the company’s stock valued at $1,109,000 after purchasing an additional 6,184 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Crescent Energy by 42.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,969,411 shares of the company’s stock valued at $44,616,000 after purchasing an additional 1,174,576 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Crescent Energy by 32.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 244,456 shares of the company’s stock worth $2,748,000 after purchasing an additional 59,199 shares in the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.

Analyst Ratings Changes

CRGY has been the topic of several recent analyst reports. Wall Street Zen downgraded Crescent Energy from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. UBS Group assumed coverage on shares of Crescent Energy in a report on Tuesday, July 14th. They issued a “buy” rating and a $13.00 target price for the company. Raymond James Financial dropped their target price on shares of Crescent Energy from $20.00 to $18.00 and set a “strong-buy” rating on the stock in a research report on Thursday, June 18th. Wells Fargo & Company boosted their price target on shares of Crescent Energy from $14.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Finally, Mizuho upped their price target on shares of Crescent Energy from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $15.58.

Crescent Energy Stock Up 0.2%

Shares of Crescent Energy stock opened at $11.29 on Monday. The stock has a 50-day moving average price of $11.06 and a 200 day moving average price of $11.20. The company has a market cap of $3.73 billion, a P/E ratio of -15.05 and a beta of 1.40. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.12. Crescent Energy Company has a 1 year low of $7.68 and a 1 year high of $14.29.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.14. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. Crescent Energy had a positive return on equity of 8.10% and a negative net margin of 7.47%.The business’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period last year, the company posted $0.57 EPS. As a group, analysts expect that Crescent Energy Company will post 1.77 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Monday, May 18th. Crescent Energy’s dividend payout ratio (DPR) is currently -64.00%.

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.