Lombard Odier Asset Management USA Corp Invests $1.18 Million in Crescent Energy Company $CRGY

Lombard Odier Asset Management USA Corp acquired a new position in shares of Crescent Energy Company (NYSE:CRGY) in the 4th quarter, Holdings Channel reports. The fund acquired 140,000 shares of the company’s stock, valued at approximately $1,175,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Caitlin John LLC purchased a new position in shares of Crescent Energy during the third quarter worth about $27,000. Fifth Third Bancorp boosted its stake in Crescent Energy by 109.3% in the fourth quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock worth $33,000 after buying an additional 2,039 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Crescent Energy by 134.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock worth $33,000 after buying an additional 2,286 shares in the last quarter. Quarry LP boosted its stake in Crescent Energy by 303.5% in the third quarter. Quarry LP now owns 4,152 shares of the company’s stock worth $37,000 after buying an additional 3,123 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in Crescent Energy by 42.3% in the fourth quarter. Allworth Financial LP now owns 4,712 shares of the company’s stock worth $40,000 after buying an additional 1,401 shares in the last quarter. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Crescent Energy Price Performance

Shares of Crescent Energy stock opened at $10.83 on Wednesday. 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 company has a market cap of $3.58 billion, a PE ratio of -14.44 and a beta of 1.37. The business has a 50 day moving average of $12.50 and a 200 day moving average of $10.95. Crescent Energy Company has a 52 week low of $7.68 and a 52 week high of $14.29.

Crescent Energy (NYSE:CRGY) last announced its earnings results on Monday, May 4th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.14. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. Crescent Energy had a positive return on equity of 8.10% and a negative net margin of 7.47%.The firm’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 earnings per share. As a group, equities research analysts forecast that Crescent Energy Company will post 1.99 earnings per share for the current year.

Crescent Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were issued a $0.12 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.48 dividend on an annualized basis and a yield of 4.4%. Crescent Energy’s dividend payout ratio is -64.00%.

Analyst Upgrades and Downgrades

CRGY has been the subject of several research reports. Johnson Rice reaffirmed an “accumulate” rating and issued a $19.00 target price on shares of Crescent Energy in a research note on Wednesday, March 25th. Weiss Ratings downgraded Crescent Energy from a “hold (c)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Piper Sandler upped 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. Raymond James Financial restated a “strong-buy” rating and set a $20.00 target price on shares of Crescent Energy in a report on Thursday, April 30th. Finally, Stephens restated an “overweight” rating and set a $18.00 target price on shares of Crescent Energy in a report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $16.00.

About Crescent Energy

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.