Crescent Energy Company $CRGY Stock Position Lifted by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP boosted its position in shares of Crescent Energy Company (NYSE:CRGY) by 484.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 132,470 shares of the company’s stock after buying an additional 109,792 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Crescent Energy were worth $1,708,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Kohlberg Kravis Roberts & Co. L.P. boosted its position in Crescent Energy by 7.1% in the 1st quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 28,655,357 shares of the company’s stock valued at $386,847,000 after buying an additional 1,897,230 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Crescent Energy by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 13,171,033 shares of the company’s stock valued at $177,810,000 after acquiring an additional 298,818 shares during the last quarter. Jennison Associates LLC boosted its holdings in Crescent Energy by 74.1% in the first quarter. Jennison Associates LLC now owns 4,254,407 shares of the company’s stock valued at $57,435,000 after acquiring an additional 1,810,225 shares during the last quarter. Cetera Investment Advisers increased its position in Crescent Energy by 5.1% in the first quarter. Cetera Investment Advisers now owns 3,341,779 shares of the company’s stock worth $45,114,000 after purchasing an additional 163,268 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in Crescent Energy by 64.5% in the third quarter. Assenagon Asset Management S.A. now owns 3,251,891 shares of the company’s stock worth $41,917,000 after purchasing an additional 1,274,787 shares during the period. Institutional investors and hedge funds own 52.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CRGY. Wall Street Zen raised Crescent Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 19th. Weiss Ratings lowered shares of Crescent Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, November 4th. Mizuho raised their target price on shares of Crescent Energy from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Evercore reiterated an “outperform” rating on shares of Crescent Energy in a research report on Wednesday, October 14th. Finally, Zacks Research downgraded shares of Crescent Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.21.

Crescent Energy Stock Performance

CRGY stock opened at $11.13 on Wednesday. The business’s fifty day moving average is $13.37 and its 200-day moving average is $12.08. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.92. The company has a market cap of $4.70 billion, a P/E ratio of -556.22 and a beta of 1.71. Crescent Energy Company has a twelve month low of $7.68 and a twelve month high of $15.47.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Monday, November 2nd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.18. Crescent Energy had a return on equity of 13.43% and a net margin of 1.30%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Equities research analysts forecast that Crescent Energy Company will post 2.21 EPS for the current year.

Crescent Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 16th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $0.48 annualized dividend and a yield of 4.3%. Crescent Energy’s dividend payout ratio is presently -2,400.00%.

About Crescent Energy

Crescent Energy Company is an independent energy company focused on acquiring, developing and producing oil and natural gas from onshore properties in the United States. Its operations include exploration and production, supported by activities to manage and develop its portfolio of energy assets. The company was formed in 2021 through the combination of Contango Oil & Gas and Independence Energy. Its portfolio includes properties in the Eagle Ford region of Texas and other U.S. producing basins.