Dimensional Fund Advisors LP Boosts Stock Position in Crescent Energy (NYSE:CRGY)

Dimensional Fund Advisors LP grew its holdings in Crescent Energy (NYSE:CRGY) by 85.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,656,222 shares of the company’s stock after purchasing an additional 1,226,027 shares during the period. Dimensional Fund Advisors LP owned about 1.50% of Crescent Energy worth $31,477,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jackson Creek Investment Advisors LLC grew its holdings in shares of Crescent Energy by 1.0% in the second quarter. Jackson Creek Investment Advisors LLC now owns 90,933 shares of the company’s stock worth $1,078,000 after purchasing an additional 883 shares during the last quarter. ProShare Advisors LLC grew its stake in Crescent Energy by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 13,856 shares of the company’s stock worth $165,000 after acquiring an additional 1,085 shares in the last quarter. Quadrature Capital Ltd increased its position in shares of Crescent Energy by 5.1% during the first quarter. Quadrature Capital Ltd now owns 30,744 shares of the company’s stock worth $366,000 after acquiring an additional 1,503 shares during the period. CWM LLC raised its stake in shares of Crescent Energy by 618.9% during the second quarter. CWM LLC now owns 2,128 shares of the company’s stock valued at $25,000 after acquiring an additional 1,832 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Crescent Energy in the second quarter valued at approximately $32,000. 52.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CRGY has been the topic of several research reports. KeyCorp started coverage on Crescent Energy in a report on Thursday, June 27th. They set an “overweight” rating and a $16.00 price objective on the stock. Evercore ISI restated an “outperform” rating and set a $17.00 price target on shares of Crescent Energy in a research note on Tuesday, September 24th. Stephens reaffirmed an “overweight” rating and issued a $20.00 price objective on shares of Crescent Energy in a research note on Tuesday, August 6th. Wells Fargo & Company dropped their target price on shares of Crescent Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Mizuho reduced their price target on shares of Crescent Energy from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $16.20.

Crescent Energy Stock Up 2.0 %

Shares of Crescent Energy stock opened at $11.17 on Wednesday. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 1.13. The company has a market cap of $1.98 billion, a P/E ratio of -55.85 and a beta of 2.26. The firm’s 50 day moving average price is $11.19 and its 200-day moving average price is $11.60. Crescent Energy has a 52-week low of $9.88 and a 52-week high of $13.85.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings results on Monday, August 5th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.05. Crescent Energy had a net margin of 0.61% and a return on equity of 13.41%. The business had revenue of $653.28 million for the quarter, compared to analyst estimates of $619.00 million. On average, sell-side analysts predict that Crescent Energy will post 1.5 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date was Monday, August 19th. Crescent Energy’s dividend payout ratio (DPR) is presently -240.00%.

Insiders Place Their Bets

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

Crescent Energy Company 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.