Kore Advisors LP Has $13.03 Million Position in Crescent Energy Company $CRGY

Kore Advisors LP raised its stake in Crescent Energy Company (NYSE:CRGY) by 5.0% in the fourth quarter, Holdings Channel reports. The firm owned 1,552,856 shares of the company’s stock after acquiring an additional 73,600 shares during the quarter. Crescent Energy comprises approximately 9.5% of Kore Advisors LP’s investment portfolio, making the stock its 2nd biggest position. Kore Advisors LP’s holdings in Crescent Energy were worth $13,028,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Caitlin John LLC acquired a new stake in shares of Crescent Energy in the third quarter valued at approximately $27,000. Fifth Third Bancorp lifted its position in shares of Crescent Energy by 109.3% in the fourth quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock valued at $33,000 after buying an additional 2,039 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Crescent Energy by 134.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock valued at $33,000 after buying an additional 2,286 shares during the last quarter. Quarry LP lifted its position in shares of Crescent Energy by 303.5% in the third quarter. Quarry LP now owns 4,152 shares of the company’s stock valued at $37,000 after buying an additional 3,123 shares during the last quarter. Finally, Allworth Financial LP lifted its position in shares of Crescent Energy by 42.3% in the fourth quarter. Allworth Financial LP now owns 4,712 shares of the company’s stock valued at $40,000 after buying an additional 1,401 shares during the last quarter. 52.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CRGY shares. JPMorgan Chase & Co. raised Crescent Energy from a “neutral” rating to an “overweight” rating and set a $19.00 price objective for the company in a research report on Friday, March 20th. Mizuho raised their price objective on Crescent Energy from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Stephens reaffirmed an “overweight” rating and issued a $18.00 price objective on shares of Crescent Energy in a research report on Tuesday, May 5th. Johnson Rice reaffirmed an “accumulate” rating and issued a $19.00 price objective on shares of Crescent Energy in a research report on Wednesday, March 25th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $20.00 price objective on shares of Crescent Energy in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has given 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 $16.00.

Crescent Energy Stock Performance

CRGY opened at $11.57 on Friday. The business has a fifty day simple moving average of $12.60 and a 200 day simple moving average of $10.91. The company has a market capitalization of $3.82 billion, a PE ratio of -15.42 and a beta of 1.37. Crescent Energy Company has a 1 year low of $7.68 and a 1 year high of $14.29. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.57 and a quick ratio of 0.57.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings results on Monday, May 4th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.14. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. Crescent Energy had a positive return on equity of 8.10% and a negative net margin of 7.47%.The firm’s quarterly revenue was up 24.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 EPS. Research analysts expect that Crescent Energy Company will post 1.99 EPS for the current year.

Crescent Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were paid a $0.12 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.48 annualized dividend and a yield of 4.2%. Crescent Energy’s payout ratio is -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.