First Citizens Bank & Trust Co. Makes New Investment in Crescent Energy Company $CRGY

First Citizens Bank & Trust Co. bought a new stake in Crescent Energy Company (NYSE:CRGY) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 64,089 shares of the company’s stock, valued at approximately $572,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nisa Investment Advisors LLC boosted its position in Crescent Energy by 50.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company’s stock valued at $33,000 after purchasing an additional 1,241 shares during the period. Osaic Holdings Inc. lifted its stake in Crescent Energy by 25.2% in the second quarter. Osaic Holdings Inc. now owns 5,301 shares of the company’s stock valued at $46,000 after buying an additional 1,066 shares during the last quarter. GAMMA Investing LLC lifted its stake in Crescent Energy by 287.3% in the second quarter. GAMMA Investing LLC now owns 9,585 shares of the company’s stock valued at $82,000 after buying an additional 7,110 shares during the last quarter. MQS Management LLC acquired a new position in shares of Crescent Energy during the second quarter valued at $91,000. Finally, Focus Partners Advisor Solutions LLC bought a new position in shares of Crescent Energy during the second quarter worth about $97,000. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Crescent Energy Price Performance

NYSE CRGY opened at $9.22 on Wednesday. Crescent Energy Company has a 12 month low of $6.83 and a 12 month high of $16.02. The firm has a market capitalization of $2.35 billion, a PE ratio of -61.43 and a beta of 1.73. The company’s 50 day simple moving average is $8.75 and its 200 day simple moving average is $8.85. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.81 and a quick ratio of 0.81.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Crescent Energy had a return on equity of 11.77% and a net margin of 0.66%.The firm had revenue of $866.58 million during the quarter, compared to analyst estimates of $887.54 million. As a group, equities research analysts forecast that Crescent Energy Company will post 0.77 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were given a $0.12 dividend. The ex-dividend date was Monday, November 17th. This represents a $0.48 annualized dividend and a yield of 5.2%. Crescent Energy’s payout ratio is -320.00%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Jefferies Financial Group reiterated a “hold” rating and issued a $9.00 price objective on shares of Crescent Energy in a research report on Sunday. Mizuho raised their price target on shares of Crescent Energy from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Weiss Ratings reiterated a “sell (d)” rating on shares of Crescent Energy in a research report on Wednesday, October 8th. Wells Fargo & Company decreased their price objective on Crescent Energy from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Wall Street Zen downgraded Crescent Energy from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Crescent Energy currently has an average rating of “Hold” and an average target price of $13.27.

Crescent Energy Company 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.