ArrowMark Colorado Holdings LLC Acquires 51,162 Shares of Crescent Energy Company $CRGY

ArrowMark Colorado Holdings LLC lifted its holdings in shares of Crescent Energy Company (NYSE:CRGY) by 2.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,811,717 shares of the company’s stock after buying an additional 51,162 shares during the quarter. ArrowMark Colorado Holdings LLC owned about 0.71% of Crescent Energy worth $16,161,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. American Century Companies Inc. boosted its stake in Crescent Energy by 8.0% in the third quarter. American Century Companies Inc. now owns 19,363,386 shares of the company’s stock valued at $172,721,000 after acquiring an additional 1,434,789 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Crescent Energy by 13.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 10,658,863 shares of the company’s stock valued at $95,080,000 after acquiring an additional 1,243,702 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Crescent Energy by 4.8% during the 2nd quarter. Geode Capital Management LLC now owns 4,270,974 shares of the company’s stock valued at $36,738,000 after acquiring an additional 195,385 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Crescent Energy by 42.0% in 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, Bridgeway Capital Management LLC lifted its stake in shares of Crescent Energy by 7.5% in the 3rd quarter. Bridgeway Capital Management LLC now owns 1,842,426 shares of the company’s stock valued at $16,434,000 after purchasing an additional 129,122 shares during the period. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Crescent Energy Trading Up 2.2%

Shares of NYSE CRGY opened at $12.00 on Friday. Crescent Energy Company has a twelve month low of $6.83 and a twelve month high of $12.40. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of 23.07 and a beta of 1.57. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.07. The company’s fifty day moving average is $9.89 and its 200-day moving average is $9.21.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.19. The business had revenue of $865.05 million during the quarter, compared to analysts’ expectations of $884.64 million. Crescent Energy had a net margin of 3.71% and a return on equity of 8.36%. Equities research analysts predict that Crescent Energy Company will post 0.77 EPS for the current year.

Crescent Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Wednesday, March 11th. Crescent Energy’s dividend payout ratio is 92.31%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CRGY. Piper Sandler lifted their price objective on Crescent Energy from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Thursday. Jefferies Financial Group reissued a “hold” rating and issued a $9.00 target price on shares of Crescent Energy in a research note on Sunday, January 25th. Zacks Research upgraded Crescent Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 20th. Wells Fargo & Company decreased their target price on Crescent Energy from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, January 27th. Finally, Mizuho upped their price target on Crescent Energy from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.00.

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.