Dimensional Fund Advisors LP Boosts Stock Position in Crescent Energy Company $CRGY

Dimensional Fund Advisors LP increased its position in shares of Crescent Energy Company (NYSE:CRGY) by 2.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,171,033 shares of the company’s stock after purchasing an additional 298,818 shares during the quarter. Dimensional Fund Advisors LP owned 4.02% of Crescent Energy worth $177,810,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CRGY. Wolverine Asset Management LLC purchased a new stake in shares of Crescent Energy in the 4th quarter valued at $860,000. Jennison Associates LLC raised its stake in shares of Crescent Energy by 74.1% during the 1st quarter. Jennison Associates LLC now owns 4,254,407 shares of the company’s stock valued at $57,435,000 after buying an additional 1,810,225 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Crescent Energy by 27.5% in the 4th quarter. Legal & General Group Plc now owns 585,827 shares of the company’s stock valued at $4,915,000 after purchasing an additional 126,330 shares during the period. Vanguard Group Inc. grew its position in shares of Crescent Energy by 34.6% during the 4th quarter. Vanguard Group Inc. now owns 27,292,081 shares of the company’s stock valued at $228,981,000 after acquiring an additional 7,015,982 shares during the period. Finally, McAlvany Wealth Management LLC acquired a new stake in Crescent Energy in the fourth quarter valued at approximately $1,130,000. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Crescent Energy Price Performance

NYSE:CRGY opened at $11.29 on Friday. Crescent Energy Company has a 52 week low of $7.68 and a 52 week high of $14.29. The stock’s fifty day moving average is $11.06 and its two-hundred day moving average is $11.18. The company has a market capitalization of $3.73 billion, a P/E ratio of -15.05 and a beta of 1.40. 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 (NYSE:CRGY) last released its quarterly earnings results on Monday, May 4th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.14. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Crescent Energy had a positive return on equity of 8.10% and a negative net margin of 7.47%.The company’s revenue was up 24.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.57 EPS. Equities analysts expect that Crescent Energy Company will post 1.77 EPS for the current year.

Crescent Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Monday, May 18th. Crescent Energy’s payout ratio is -64.00%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Raymond James Financial dropped their target price on shares of Crescent Energy from $20.00 to $18.00 and set a “strong-buy” rating on the stock in a research report on Thursday, June 18th. Weiss Ratings cut Crescent Energy from a “hold (c)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. KeyCorp reiterated an “overweight” rating and set a $19.00 price objective on shares of Crescent Energy in a research note on Thursday, June 11th. Wells Fargo & Company boosted their price objective on Crescent Energy from $14.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Finally, Zacks Research cut Crescent Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.58.

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.