Empowered Funds LLC Has $18.11 Million Stock Position in Crescent Energy Company $CRGY

Empowered Funds LLC grew its holdings in shares of Crescent Energy Company (NYSE:CRGY) by 7.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,341,270 shares of the company’s stock after purchasing an additional 91,388 shares during the quarter. Empowered Funds LLC owned about 0.41% of Crescent Energy worth $18,107,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Strs Ohio bought a new stake in Crescent Energy in the first quarter worth $32,000. Fifth Third Bancorp raised its holdings in 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 buying an additional 2,039 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Crescent Energy by 134.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock valued at $33,000 after buying an additional 2,286 shares in the last quarter. Quarry LP lifted its position in shares of 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 during the last quarter. Finally, Allworth Financial LP lifted its position in shares of 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 during the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Stephens reissued an “overweight” rating and set a $18.00 price objective on shares of Crescent Energy in a report on Tuesday, May 5th. UBS Group assumed coverage on Crescent Energy in a report on Tuesday, July 14th. They issued a “buy” rating and a $13.00 target price for the company. Zacks Research cut Crescent Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Mizuho increased their price target on Crescent Energy from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Finally, Weiss Ratings downgraded Crescent Energy from a “hold (c)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Crescent Energy currently has a consensus rating of “Moderate Buy” and an average price target of $15.58.

Crescent Energy Price Performance

Shares of NYSE:CRGY opened at $10.47 on Wednesday. The company has a market cap of $3.46 billion, a price-to-earnings ratio of -13.97 and a beta of 1.40. The business has a 50 day moving average price of $10.93 and a 200 day moving average price of $11.24. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.12. Crescent Energy Company has a twelve month low of $7.68 and a twelve month high of $14.29.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.53 EPS for the quarter, topping the consensus estimate 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 company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the business posted $0.57 EPS. The company’s revenue for the quarter was up 24.5% on a year-over-year basis. Research analysts predict that Crescent Energy Company will post 1.78 earnings per share for the current year.

Crescent Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.48 dividend on an annualized basis and a yield of 4.6%. Crescent Energy’s payout ratio 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.