Bridgeway Capital Management LLC Has $13.14 Million Stock Position in Crescent Energy Company $CRGY

Bridgeway Capital Management LLC trimmed its stake in shares of Crescent Energy Company (NYSE:CRGY) by 15.0% during the fourth quarter, Holdings Channel reports. The firm owned 1,566,328 shares of the company’s stock after selling 276,098 shares during the period. Bridgeway Capital Management LLC’s holdings in Crescent Energy were worth $13,141,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Caitlin John LLC acquired a new stake in Crescent Energy during the third quarter valued at approximately $27,000. Fifth Third Bancorp boosted its holdings in Crescent Energy by 109.3% during the fourth quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock valued at $33,000 after purchasing an additional 2,039 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Crescent Energy by 134.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock valued at $33,000 after purchasing an additional 2,286 shares in the last quarter. Quarry LP boosted its holdings in Crescent Energy by 303.5% during the third quarter. Quarry LP now owns 4,152 shares of the company’s stock valued at $37,000 after purchasing an additional 3,123 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in Crescent Energy by 42.3% during the fourth quarter. Allworth Financial LP now owns 4,712 shares of the company’s stock valued at $40,000 after purchasing an additional 1,401 shares in the last quarter. 52.11% of the stock is owned by institutional investors and hedge funds.

Crescent Energy Stock Down 0.3%

Shares of CRGY opened at $10.78 on Thursday. The company has a market capitalization of $3.56 billion, a P/E ratio of -14.38 and a beta of 1.37. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.57 and a quick ratio of 0.57. Crescent Energy Company has a one year low of $7.68 and a one year high of $14.29. The business’s 50 day simple moving average is $12.45 and its 200-day simple moving average is $10.96.

Crescent Energy (NYSE:CRGY) last announced its 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 business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the business earned $0.57 EPS. Crescent Energy’s revenue was up 24.5% compared to the same quarter last year. As a group, sell-side analysts predict that Crescent Energy Company will post 1.99 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.48 annualized dividend and a yield of 4.5%. Crescent Energy’s dividend payout ratio is currently -64.00%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CRGY. Johnson Rice reissued an “accumulate” rating and issued a $19.00 target price on shares of Crescent Energy in a report on Wednesday, March 25th. William Blair reissued an “outperform” rating on shares of Crescent Energy in a report on Friday, March 6th. Zacks Research raised Crescent Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, April 3rd. Wells Fargo & Company boosted their target price on Crescent Energy from $14.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Finally, Wall Street Zen raised Crescent Energy from a “hold” rating to a “buy” rating in a report on Sunday, May 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Crescent Energy currently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

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.