Victory Capital Management Inc. Has $7.84 Million Position in Crescent Energy (NYSE:CRGY)

Victory Capital Management Inc. trimmed its holdings in Crescent Energy (NYSE:CRGY) by 7.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 661,757 shares of the company’s stock after selling 50,115 shares during the quarter. Victory Capital Management Inc. owned about 0.37% of Crescent Energy worth $7,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in CRGY. Vanguard Group Inc. grew its holdings in shares of Crescent Energy by 13.9% during the first quarter. Vanguard Group Inc. now owns 9,308,793 shares of the company’s stock valued at $110,775,000 after buying an additional 1,137,367 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Crescent Energy by 22,968.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,658,443 shares of the company’s stock worth $48,328,000 after purchasing an additional 3,642,584 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Crescent Energy by 21.2% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,668,560 shares of the company’s stock worth $22,042,000 after purchasing an additional 291,990 shares during the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of Crescent Energy by 63.0% in the first quarter. Bridgeway Capital Management LLC now owns 1,590,748 shares of the company’s stock valued at $18,930,000 after purchasing an additional 614,969 shares in the last quarter. Finally, Zimmer Partners LP purchased a new position in shares of Crescent Energy during the first quarter valued at approximately $17,731,000. Institutional investors own 52.11% of the company’s stock.

Insider Buying and Selling at Crescent Energy

In related news, Director Michael Duginski purchased 9,344 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was purchased at an average cost of $10.62 per share, with a total value of $99,233.28. Following the completion of the acquisition, the director now directly owns 201,081 shares of the company’s stock, valued at $2,135,480.22. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have acquired 12,294 shares of company stock valued at $131,297 in the last 90 days. 13.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CRGY has been the topic of several recent analyst reports. Wells Fargo & Company raised their price objective on Crescent Energy from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Truist Financial reduced their price objective on shares of Crescent Energy from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Stephens reiterated an “overweight” rating and issued a $20.00 price objective on shares of Crescent Energy in a research note on Tuesday, August 6th. KeyCorp started coverage on Crescent Energy in a report on Thursday, June 27th. They issued an “overweight” rating and a $16.00 target price for the company. Finally, Wolfe Research began coverage on Crescent Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $16.00 price target on the stock. One analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $16.80.

Crescent Energy Price Performance

Shares of NYSE CRGY opened at $10.64 on Monday. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.13. The stock has a fifty day simple moving average of $11.43 and a two-hundred day simple moving average of $11.59. Crescent Energy has a 1-year low of $9.88 and a 1-year high of $13.85. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of -53.20 and a beta of 2.26.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05. Crescent Energy had a return on equity of 13.41% and a net margin of 0.61%. The company had revenue of $653.28 million during the quarter, compared to the consensus estimate of $619.00 million. Analysts anticipate that Crescent Energy will post 1.31 earnings per share for the current year.

Crescent Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were paid a $0.12 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.48 dividend on an annualized basis and a yield of 4.51%. Crescent Energy’s dividend payout ratio is -240.00%.

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.