64,089 Shares in Crescent Energy Company $CRGY Acquired by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. purchased a new stake in Crescent Energy Company (NYSE:CRGY) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 64,089 shares of the company’s stock, valued at approximately $572,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. 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 boosted its position in shares of Crescent Energy by 8.9% in the 1st 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Crescent Energy by 6.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,670 shares of the company’s stock worth $1,109,000 after buying an additional 6,184 shares during the period. Goldman Sachs Group Inc. lifted its stake in Crescent Energy by 42.0% during 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, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Crescent Energy by 32.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 244,456 shares of the company’s stock valued at $2,748,000 after buying an additional 59,199 shares in the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CRGY. Wall Street Zen downgraded shares of Crescent Energy from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Evercore ISI initiated coverage on shares of Crescent Energy in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $13.00 price objective for the company. Piper Sandler cut their target price on shares of Crescent Energy from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 18th. Wells Fargo & Company reduced their target price on Crescent Energy from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, BMO Capital Markets initiated coverage on Crescent Energy in a research report on Friday, January 9th. They issued a “market perform” rating and a $10.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $13.27.

Crescent Energy Stock Up 4.2%

Crescent Energy stock opened at $9.22 on Wednesday. Crescent Energy Company has a twelve month low of $6.83 and a twelve month high of $16.02. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $2.35 billion, a PE ratio of -61.43 and a beta of 1.73. The firm’s 50 day moving average price is $8.75 and its two-hundred day moving average price is $8.85.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. Crescent Energy had a net margin of 0.66% and a return on equity of 11.77%. The business had revenue of $866.58 million for the quarter, compared to analysts’ expectations of $887.54 million. On average, research analysts predict that Crescent Energy Company will post 0.77 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.2%. Crescent Energy’s dividend payout ratio (DPR) is -320.00%.

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.