MYDA Advisors LLC Takes $747,000 Position in Crescent Energy Company $CRGY

MYDA Advisors LLC purchased a new stake in Crescent Energy Company (NYSE:CRGY) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 89,000 shares of the company’s stock, valued at approximately $747,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Crescent Energy by 34.6% in the 4th quarter. Vanguard Group Inc. now owns 27,292,081 shares of the company’s stock valued at $228,981,000 after buying an additional 7,015,982 shares during the last quarter. State Street Corp increased its stake in Crescent Energy by 27.6% in the 4th quarter. State Street Corp now owns 12,808,605 shares of the company’s stock valued at $107,464,000 after buying an additional 2,767,096 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Crescent Energy by 77.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,105,558 shares of the company’s stock valued at $42,836,000 after buying an additional 2,234,324 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Crescent Energy by 20.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,872,215 shares of the company’s stock valued at $107,999,000 after buying an additional 2,213,352 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Crescent Energy by 8.0% in the 3rd quarter. American Century Companies Inc. now owns 19,363,386 shares of the company’s stock valued at $172,721,000 after buying an additional 1,434,789 shares during the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CRGY shares. Stephens reiterated an “overweight” rating and issued a $18.00 price target on shares of Crescent Energy in a research note on Tuesday, May 5th. Raymond James Financial reiterated a “strong-buy” rating and issued a $20.00 price target on shares of Crescent Energy in a research note on Thursday, April 30th. JPMorgan Chase & Co. upgraded shares of Crescent Energy from a “neutral” rating to an “overweight” rating and set a $19.00 price target on the stock in a research note on Friday, March 20th. Zacks Research upgraded shares of Crescent Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 3rd. Finally, Wells Fargo & Company lifted 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. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Crescent Energy has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Crescent Energy Price Performance

Shares of CRGY opened at $11.57 on Monday. The firm has a market capitalization of $3.82 billion, a PE ratio of -15.42 and a beta of 1.37. The company’s 50-day moving average is $12.60 and its 200-day moving average is $10.92. Crescent Energy Company has a fifty-two week low of $7.68 and a fifty-two week high of $14.29. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.57 and a quick ratio of 0.57.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate 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 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 firm earned $0.57 earnings per share. Equities analysts forecast that Crescent Energy Company will post 1.99 EPS for the current year.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were given 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 4.2%. Crescent Energy’s dividend payout ratio is presently -64.00%.

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.