ACT Capital Management LLC Acquires Shares of 61,312 Crescent Energy Company $CRGY

ACT Capital Management LLC purchased a new stake in shares of Crescent Energy Company (NYSE:CRGY) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 61,312 shares of the company’s stock, valued at approximately $514,000.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Crescent Energy by 34.6% during the fourth quarter. Vanguard Group Inc. now owns 27,292,081 shares of the company’s stock valued at $228,981,000 after purchasing an additional 7,015,982 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Crescent Energy by 8.0% during the third quarter. American Century Companies Inc. now owns 19,363,386 shares of the company’s stock valued at $172,721,000 after purchasing an additional 1,434,789 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Crescent Energy by 20.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 12,872,215 shares of the company’s stock valued at $107,999,000 after purchasing an additional 2,213,352 shares during the last quarter. State Street Corp grew its stake in shares of Crescent Energy by 27.6% during the fourth quarter. State Street Corp now owns 12,808,605 shares of the company’s stock valued at $107,464,000 after purchasing an additional 2,767,096 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Crescent Energy by 29.0% during the fourth quarter. Geode Capital Management LLC now owns 5,592,793 shares of the company’s stock valued at $46,935,000 after purchasing an additional 1,256,114 shares during the last quarter. 52.11% of the stock is owned by institutional investors.

Crescent Energy Price Performance

Shares of CRGY stock opened at $10.78 on Thursday. Crescent Energy Company has a 12-month low of $7.68 and a 12-month high of $14.29. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of -14.38 and a beta of 1.37. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.12. The firm has a fifty day moving average of $12.45 and a 200-day moving average of $10.96.

Crescent Energy (NYSE:CRGY) last announced 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. Crescent Energy had a negative net margin of 7.47% and a positive return on equity of 8.10%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the business earned $0.57 EPS. The firm’s revenue was up 24.5% on a year-over-year basis. On average, equities research analysts forecast that Crescent Energy Company will post 1.99 earnings per share for the current year.

Crescent Energy Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Monday, May 18th. Crescent Energy’s dividend payout ratio (DPR) is presently -64.00%.

Wall Street Analyst Weigh In

CRGY has been the topic of several research analyst reports. Weiss Ratings cut shares of Crescent Energy from a “hold (c)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Wells Fargo & Company increased their price target on shares of Crescent Energy from $14.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. KeyCorp restated an “overweight” rating and issued a $19.00 price objective on shares of Crescent Energy in a report on Thursday, June 11th. Stephens restated an “overweight” rating and issued a $18.00 price objective on shares of Crescent Energy in a report on Tuesday, May 5th. Finally, Mizuho increased their price objective on shares of Crescent Energy from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Crescent Energy has an average rating of “Moderate Buy” and a consensus target price of $16.00.

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.