Crescent Energy Company $CRGY Shares Sold by Lombard Odier Asset Management USA Corp

Lombard Odier Asset Management USA Corp lowered its position in shares of Crescent Energy Company (NYSE:CRGY) by 37.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 87,000 shares of the company’s stock after selling 53,000 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in Crescent Energy were worth $1,174,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Van Den Berg Management I Inc. raised its holdings in Crescent Energy by 4.2% during the first quarter. Van Den Berg Management I Inc. now owns 227,213 shares of the company’s stock worth $3,067,000 after purchasing an additional 9,060 shares in the last quarter. Mizuho Markets Americas LLC purchased a new position in shares of Crescent Energy during the 1st quarter worth approximately $9,456,000. Sei Investments Co. lifted its holdings in shares of Crescent Energy by 9.0% in the 1st quarter. Sei Investments Co. now owns 388,477 shares of the company’s stock valued at $5,244,000 after buying an additional 32,169 shares during the period. Walleye Capital LLC boosted its stake in shares of Crescent Energy by 2,153.2% in the first quarter. Walleye Capital LLC now owns 180,664 shares of the company’s stock valued at $2,439,000 after buying an additional 172,646 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in Crescent Energy by 5.1% during the first quarter. Cetera Investment Advisers now owns 3,341,779 shares of the company’s stock worth $45,114,000 after acquiring an additional 163,268 shares during the period. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Raymond James Financial cut their price objective on Crescent Energy from $20.00 to $18.00 and set a “strong-buy” rating for the company in a research report on Thursday, June 18th. Zacks Research downgraded shares of Crescent Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Wells Fargo & Company boosted their price objective on shares of Crescent Energy from $14.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Stephens reissued an “overweight” rating and set a $18.00 price target on shares of Crescent Energy in a research note on Tuesday, May 5th. Finally, Mizuho raised their price objective on Crescent Energy from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.58.

Crescent Energy Stock Down 0.9%

Shares of NYSE CRGY opened at $11.29 on Friday. Crescent Energy Company has a 12-month low of $7.68 and a 12-month high of $14.29. The company has a market capitalization of $3.73 billion, a PE ratio of -15.05 and a beta of 1.40. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.57 and a quick ratio of 0.57. The firm’s 50-day moving average is $11.06 and its two-hundred day moving average is $11.18.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings data 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. Crescent Energy had a negative net margin of 7.47% and a positive return on equity of 8.10%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the company posted $0.57 EPS. The company’s revenue was up 24.5% on a year-over-year basis. Equities analysts anticipate that Crescent Energy Company will post 1.77 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were issued 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%.

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.