Fisher Asset Management LLC Purchases 153,073 Shares of Crescent Energy Company $CRGY

Fisher Asset Management LLC grew its position in shares of Crescent Energy Company (NYSE:CRGY) by 29.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 667,073 shares of the company’s stock after acquiring an additional 153,073 shares during the quarter. Fisher Asset Management LLC owned about 0.26% of Crescent Energy worth $5,597,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CRGY. Caitlin John LLC bought a new stake in shares of Crescent Energy during the third quarter valued at approximately $27,000. Fifth Third Bancorp increased its holdings in shares of Crescent Energy by 109.3% during the fourth quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock valued at $33,000 after acquiring an additional 2,039 shares in the last quarter. Quarry LP increased its holdings in shares of Crescent Energy by 303.5% during the third quarter. Quarry LP now owns 4,152 shares of the company’s stock valued at $37,000 after acquiring an additional 3,123 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Crescent Energy by 42.3% during the fourth quarter. Allworth Financial LP now owns 4,712 shares of the company’s stock valued at $40,000 after acquiring an additional 1,401 shares in the last quarter. Finally, Osaic Holdings Inc. increased its holdings in shares of Crescent Energy by 25.2% during the second quarter. Osaic Holdings Inc. now owns 5,301 shares of the company’s stock valued at $46,000 after acquiring an additional 1,066 shares in the last quarter. Institutional investors own 52.11% of the company’s stock.

Crescent Energy Stock Up 0.3%

CRGY stock opened at $11.84 on Friday. Crescent Energy Company has a twelve month low of $7.68 and a twelve month high of $14.29. 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 stock’s 50 day moving average is $12.88 and its 200-day moving average is $10.71. The firm has a market capitalization of $3.91 billion, a PE ratio of -15.78 and a beta of 1.44.

Crescent Energy (NYSE:CRGY) last posted its earnings results on Monday, May 4th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.14. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. Crescent Energy had a positive return on equity of 8.10% and a negative net margin of 7.47%.The company’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter last year, the company earned $0.57 earnings per share. Sell-side analysts expect that Crescent Energy Company will post 1.84 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, May 18th. Crescent Energy’s payout ratio is -64.00%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Weiss Ratings downgraded Crescent Energy from a “hold (c)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Piper Sandler raised their target price on Crescent Energy from $14.00 to $16.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Zacks Research upgraded Crescent Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, April 3rd. KeyCorp raised their target price on Crescent Energy from $15.00 to $19.00 and gave the company an “overweight” rating in a report on Thursday, April 2nd. Finally, Mizuho raised their target price on Crescent Energy from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $16.00.

Crescent Energy Company 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.