Fifth Third Bancorp Raises Position in Crescent Energy Company $CRGY

Fifth Third Bancorp lifted its position in Crescent Energy Company (NYSE:CRGY) by 2,861.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 115,629 shares of the company’s stock after acquiring an additional 111,724 shares during the period. Fifth Third Bancorp’s holdings in Crescent Energy were worth $1,561,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CRGY. Royal Bank of Canada raised its stake in shares of Crescent Energy by 16.1% in the first quarter. Royal Bank of Canada now owns 58,900 shares of the company’s stock worth $662,000 after purchasing an additional 8,173 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Crescent Energy by 8.9% during the first quarter. AQR Capital Management LLC now owns 17,104 shares of the company’s stock valued at $192,000 after buying an additional 1,397 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Crescent Energy by 6.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,670 shares of the company’s stock valued at $1,109,000 after buying an additional 6,184 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Crescent Energy by 42.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,969,411 shares of the company’s stock worth $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 increased its holdings in Crescent Energy by 32.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 244,456 shares of the company’s stock worth $2,748,000 after buying an additional 59,199 shares in the last quarter. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. 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. Wall Street Zen lowered shares of Crescent Energy from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Mizuho boosted 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. Stephens reissued an “overweight” rating and set a $18.00 price objective on shares of Crescent Energy in a report on Tuesday, May 5th. Finally, KeyCorp restated an “overweight” rating and set a $19.00 price objective on shares of Crescent Energy in a research report on Thursday, June 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $15.58.

Crescent Energy Stock Up 0.1%

CRGY stock opened at $11.39 on Friday. The company has a market cap of $3.76 billion, a price-to-earnings ratio of -15.19 and a beta of 1.40. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.57 and a current ratio of 0.57. The business’s 50-day moving average is $11.09 and its two-hundred day moving average is $11.18. Crescent Energy Company has a fifty-two week low of $7.68 and a fifty-two week high of $14.29.

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 analysts’ consensus estimates of $0.39 by $0.14. Crescent Energy had a positive return on equity of 8.10% and a negative net margin of 7.47%.The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the company posted $0.57 EPS. The business’s quarterly revenue was up 24.5% compared to the same quarter last year. As a group, analysts forecast that Crescent Energy Company will post 1.77 earnings per share for the current year.

Crescent Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were issued a $0.12 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.2%. Crescent Energy’s dividend payout ratio (DPR) is presently -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.