Victory Capital Management Inc. Has $7.76 Million Holdings in Crescent Energy (NYSE:CRGY)

Victory Capital Management Inc. increased its position in shares of Crescent Energy (NYSE:CRGY) by 7.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 708,205 shares of the company’s stock after buying an additional 46,448 shares during the period. Victory Capital Management Inc. owned 0.40% of Crescent Energy worth $7,755,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC increased its position in shares of Crescent Energy by 618.9% during the 2nd quarter. CWM LLC now owns 2,128 shares of the company’s stock worth $25,000 after purchasing an additional 1,832 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Crescent Energy during the second quarter worth approximately $32,000. Farther Finance Advisors LLC raised its stake in shares of Crescent Energy by 15,675.0% in the third quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock valued at $35,000 after acquiring an additional 3,135 shares during the last quarter. Spirit of America Management Corp NY acquired a new position in shares of Crescent Energy in the 2nd quarter worth approximately $36,000. Finally, Amalgamated Bank boosted its holdings in shares of Crescent Energy by 86.4% in the 3rd quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock worth $54,000 after acquiring an additional 2,272 shares in the last quarter. 52.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. started coverage on Crescent Energy in a report on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 price target for the company. Stephens boosted their target price on shares of Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Mizuho increased their price target on shares of Crescent Energy from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Pickering Energy Partners began coverage on shares of Crescent Energy in a research report on Monday, October 28th. They issued an “outperform” rating for the company. Finally, Truist Financial decreased their price objective on Crescent Energy from $19.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Crescent Energy has a consensus rating of “Buy” and an average price target of $16.30.

Crescent Energy Trading Up 4.3 %

NYSE:CRGY opened at $15.18 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. Crescent Energy has a 1-year low of $9.88 and a 1-year high of $15.53. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of 24.48 and a beta of 2.19. The business’s 50-day moving average price is $12.58 and its two-hundred day moving average price is $12.05.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.11. The business had revenue of $744.87 million for the quarter, compared to the consensus estimate of $793.88 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. During the same period last year, the company posted $0.35 EPS. On average, equities analysts expect that Crescent Energy will post 0.97 earnings per share for the current year.

Crescent Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Monday, November 18th. Crescent Energy’s dividend payout ratio (DPR) is 77.42%.

About Crescent Energy

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.