NFJ Investment Group LLC Purchases Shares of 285,955 Crescent Energy Company $CRGY

NFJ Investment Group LLC purchased a new stake in Crescent Energy Company (NYSE:CRGY) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 285,955 shares of the company’s stock, valued at approximately $2,399,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRGY. 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. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Zacks Research upgraded shares of Crescent Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 3rd. 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. Mizuho lifted their price objective on shares of Crescent Energy from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Weiss Ratings downgraded shares of Crescent Energy from a “hold (c)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $20.00 price objective on shares of Crescent Energy in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Crescent Energy Stock Performance

Shares of CRGY opened at $11.57 on Monday. The firm has a 50-day moving average of $12.60 and a 200-day moving average of $10.92. Crescent Energy Company has a one year low of $7.68 and a one year high of $14.29. The company has a market cap of $3.82 billion, a PE ratio of -15.42 and a beta of 1.37. 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 announced its quarterly earnings data on Monday, May 4th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.15 billion. During the same quarter last year, the firm posted $0.57 EPS. The company’s quarterly revenue was up 24.5% on a year-over-year basis. As a group, equities analysts forecast that Crescent Energy Company will post 1.99 earnings per share for the current year.

Crescent Energy Announces Dividend

The company 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Monday, May 18th. Crescent Energy’s dividend payout ratio (DPR) is -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.