164,979 Shares in Crescent Energy Company $CRGY Acquired by Readystate Asset Management LP

Readystate Asset Management LP purchased a new position in Crescent Energy Company (NYSE:CRGY) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 164,979 shares of the company’s stock, valued at approximately $2,227,000.

A number of other institutional investors have also added to or reduced their stakes in CRGY. Empowered Funds LLC raised its position in shares of Crescent Energy by 7.3% during the first quarter. Empowered Funds LLC now owns 1,341,270 shares of the company’s stock valued at $18,107,000 after buying an additional 91,388 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Crescent Energy by 2.0% in the first quarter. Quantinno Capital Management LP now owns 164,016 shares of the company’s stock worth $2,214,000 after buying an additional 3,160 shares in the last quarter. Kohlberg Kravis Roberts & Co. L.P. boosted its position in shares of Crescent Energy by 7.1% during the first quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 28,655,357 shares of the company’s stock worth $386,847,000 after acquiring an additional 1,897,230 shares during the last quarter. Lazard Asset Management LLC boosted its position in shares of Crescent Energy by 5.4% during the first quarter. Lazard Asset Management LLC now owns 155,349 shares of the company’s stock worth $2,097,000 after acquiring an additional 8,003 shares during the last quarter. Finally, Van Den Berg Management I Inc. grew its stake 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 valued at $3,067,000 after acquiring an additional 9,060 shares in the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CRGY has been the topic of a number of research reports. Wall Street Zen cut shares of Crescent Energy from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. 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. Weiss Ratings cut Crescent Energy from a “hold (c)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Mizuho boosted their target price on Crescent Energy from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Crescent Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.58.

Crescent Energy Stock Down 0.0%

Shares of NYSE CRGY opened at $10.47 on Wednesday. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.12. Crescent Energy Company has a 12-month low of $7.68 and a 12-month high of $14.29. The firm’s 50-day moving average price is $10.93 and its 200-day moving average price is $11.24. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of -13.97 and a beta of 1.40.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings results on Monday, May 4th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.39 by $0.14. Crescent Energy had a positive return on equity of 8.10% and a negative net margin of 7.47%.The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business posted $0.57 earnings per share. The firm’s revenue was up 24.5% on a year-over-year basis. On average, equities research analysts anticipate that Crescent Energy Company will post 1.78 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were issued a $0.12 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.6%. 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.