Dynamic Technology Lab Private Ltd Has $347,000 Stock Position in Crescent Energy Company $CRGY

Dynamic Technology Lab Private Ltd lowered its position in Crescent Energy Company (NYSE:CRGY) by 56.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 40,382 shares of the company’s stock after selling 52,728 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Crescent Energy were worth $347,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nuveen LLC bought a new position in shares of Crescent Energy in the 1st quarter worth $21,782,000. Alyeska Investment Group L.P. increased its stake in Crescent Energy by 452.3% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,585,185 shares of the company’s stock valued at $17,817,000 after purchasing an additional 1,298,155 shares in the last quarter. American Century Companies Inc. raised its holdings in Crescent Energy by 10.0% during the first quarter. American Century Companies Inc. now owns 13,967,599 shares of the company’s stock worth $156,996,000 after buying an additional 1,266,674 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Crescent Energy by 42.0% in the first quarter. Goldman Sachs Group Inc. now owns 3,969,411 shares of the company’s stock valued at $44,616,000 after buying an additional 1,174,576 shares in the last quarter. Finally, HITE Hedge Asset Management LLC acquired a new position in shares of Crescent Energy during the first quarter valued at about $10,087,000. Institutional investors own 52.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Crescent Energy in a report on Wednesday, October 8th. Raymond James Financial set a $17.00 price objective on Crescent Energy and gave the stock a “strong-buy” rating in a research note on Wednesday, August 27th. Piper Sandler dropped their target price on Crescent Energy from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, November 18th. Wall Street Zen downgraded Crescent Energy from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Mizuho set a $11.00 price target on Crescent Energy in a research report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $15.11.

Crescent Energy Stock Performance

CRGY stock opened at $9.19 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.75. The firm has a market cap of $2.34 billion, a PE ratio of -51.06 and a beta of 1.85. The business has a 50 day moving average of $8.74 and a 200-day moving average of $8.96. Crescent Energy Company has a 12-month low of $6.83 and a 12-month high of $16.94.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. Crescent Energy had a return on equity of 13.35% and a net margin of 0.67%.The business had revenue of $866.58 million for the quarter, compared to analysts’ expectations of $887.54 million. As a group, sell-side analysts expect that Crescent Energy Company will post 0.77 earnings per share for the current year.

Crescent Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a dividend of $0.12 per share. The ex-dividend date is Monday, November 17th. This represents a $0.48 annualized dividend and a yield of 5.2%. Crescent Energy’s dividend payout ratio is presently -320.00%.

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.