Louisiana State Employees Retirement System Invests $1.46 Million in Crescent Energy Company $CRGY

Louisiana State Employees Retirement System bought a new position in shares of Crescent Energy Company (NYSE:CRGY) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 107,800 shares of the company’s stock, valued at approximately $1,455,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Osaic Holdings Inc. lifted its stake in shares of Crescent Energy by 25.2% in the 2nd quarter. Osaic Holdings Inc. now owns 5,301 shares of the company’s stock valued at $46,000 after purchasing an additional 1,066 shares during the period. First Citizens Bank & Trust Co. lifted its position in Crescent Energy by 1.8% in the 4th quarter. First Citizens Bank & Trust Co. now owns 65,241 shares of the company’s stock valued at $547,000 after acquiring an additional 1,152 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Crescent Energy by 2.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 62,706 shares of the company’s stock worth $526,000 after buying an additional 1,245 shares during the period. AQR Capital Management LLC boosted its position in Crescent Energy by 8.9% during the 1st quarter. AQR Capital Management LLC now owns 17,104 shares of the company’s stock worth $192,000 after acquiring an additional 1,397 shares during the last quarter. Finally, Allworth Financial LP grew its position in 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 purchasing an additional 1,401 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 weighed in on CRGY. KeyCorp reaffirmed an “overweight” rating and set a $19.00 price target on shares of Crescent Energy in a research report on Thursday, June 11th. William Blair reissued an “outperform” rating on shares of Crescent Energy in a report on Friday, March 6th. Johnson Rice reissued an “accumulate” rating and set a $19.00 target price on shares of Crescent Energy in a report on Wednesday, March 25th. JPMorgan Chase & Co. upgraded Crescent Energy from a “neutral” rating to an “overweight” rating and set a $19.00 price target for the company in a research note on Friday, March 20th. Finally, Piper Sandler increased their price objective on shares of Crescent Energy from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Crescent Energy presently has a consensus rating of “Moderate Buy” and an average target price of $15.82.

Crescent Energy Price Performance

Crescent Energy stock opened at $9.37 on Friday. The stock has a 50-day moving average price of $11.91 and a two-hundred day moving average price of $10.99. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.12. Crescent Energy Company has a 12 month low of $7.68 and a 12 month high of $14.29. The company has a market capitalization of $3.09 billion, a PE ratio of -12.49 and a beta of 1.41.

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. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Crescent Energy had a negative net margin of 7.47% and a positive return on equity of 8.10%. The company’s revenue was up 24.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 EPS. Analysts expect that Crescent Energy Company will post 1.98 EPS for the current year.

Crescent Energy Dividend Announcement

The firm also recently disclosed 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 of this dividend was Monday, May 18th. This represents a $0.48 annualized dividend and a dividend yield of 5.1%. Crescent Energy’s payout ratio is currently -64.00%.

Crescent Energy Profile

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.