Campbell & CO Investment Adviser LLC Invests $260,000 in Crescent Energy Company $CRGY

Campbell & CO Investment Adviser LLC acquired a new position in Crescent Energy Company (NYSE:CRGY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 30,287 shares of the company’s stock, valued at approximately $260,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CRGY. Nuveen LLC acquired a new position in Crescent Energy during the 1st quarter worth about $21,782,000. Alyeska Investment Group L.P. lifted its stake in shares of Crescent Energy by 452.3% in the first quarter. Alyeska Investment Group L.P. now owns 1,585,185 shares of the company’s stock worth $17,817,000 after acquiring an additional 1,298,155 shares during the period. American Century Companies Inc. boosted its holdings in Crescent Energy by 10.0% in the first quarter. American Century Companies Inc. now owns 13,967,599 shares of the company’s stock valued at $156,996,000 after acquiring an additional 1,266,674 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Crescent Energy by 42.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,969,411 shares of the company’s stock valued at $44,616,000 after purchasing an additional 1,174,576 shares during the period. Finally, HITE Hedge Asset Management LLC bought a new position in Crescent Energy during the 1st quarter worth approximately $10,087,000. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CRGY has been the subject of several recent analyst reports. Wells Fargo & Company decreased their price objective on shares of Crescent Energy from $20.00 to $15.00 and set an “overweight” rating for the company in a research report on Friday, October 17th. Wall Street Zen downgraded Crescent Energy from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Raymond James Financial set a $17.00 price objective on Crescent Energy and gave the stock a “strong-buy” rating in a research report on Wednesday, August 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Crescent Energy in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded Crescent Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.33.

Crescent Energy Price Performance

Shares of CRGY opened at $8.87 on Tuesday. The stock has a market cap of $2.26 billion, a P/E ratio of -49.25 and a beta of 1.85. The business’s fifty day moving average is $8.69 and its 200 day moving average is $8.93. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.75. Crescent Energy Company has a 12-month low of $6.83 and a 12-month high of $16.94.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. The firm had revenue of $866.58 million for the quarter, compared to the consensus estimate of $887.54 million. Crescent Energy had a net margin of 0.67% and a return on equity of 13.35%. Sell-side analysts anticipate that Crescent Energy Company will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend is Monday, November 17th. Crescent Energy’s payout ratio is currently -320.00%.

Crescent Energy Profile

Crescent Energy Company acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. Its portfolio of assets comprises mid-cycle unconventional and conventional assets in the Eagle Ford and Uinta Basins. It also owns and operates various midstream assets, which provide services to customers.