Lombard Odier Asset Management USA Corp Cuts Stock Holdings in Crescent Energy Company $CRGY

Lombard Odier Asset Management USA Corp decreased its holdings in shares of Crescent Energy Company (NYSE:CRGY) by 37.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Crescent Energy by 34.6% during the 4th quarter. Vanguard Group Inc. now owns 27,292,081 shares of the company’s stock worth $228,981,000 after purchasing an additional 7,015,982 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Crescent Energy by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 13,171,033 shares of the company’s stock worth $177,810,000 after purchasing an additional 298,818 shares during the period. State Street Corp boosted its position in shares of Crescent Energy by 27.6% during the 4th quarter. State Street Corp now owns 12,808,605 shares of the company’s stock worth $107,464,000 after purchasing an additional 2,767,096 shares during the period. Geode Capital Management LLC increased its holdings in Crescent Energy by 29.0% in the 4th quarter. Geode Capital Management LLC now owns 5,592,793 shares of the company’s stock valued at $46,935,000 after purchasing an additional 1,256,114 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Crescent Energy by 77.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,105,558 shares of the company’s stock valued at $42,836,000 after purchasing an additional 2,234,324 shares during the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CRGY. Stephens reissued an “overweight” rating and set a $18.00 target price on shares of Crescent Energy in a research note on Tuesday, May 5th. UBS Group began coverage on Crescent Energy in a report on Tuesday, July 14th. They set a “buy” rating and a $13.00 price target for the company. Wall Street Zen downgraded Crescent Energy from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Raymond James Financial lowered their price target on Crescent Energy from $20.00 to $18.00 and set a “strong-buy” rating for the company in a report on Thursday, June 18th. Finally, Wells Fargo & Company raised 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. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $15.58.

Crescent Energy Stock Performance

Shares of CRGY opened at $11.29 on Friday. The company’s 50 day simple moving average is $11.06 and its 200-day simple moving average is $11.18. Crescent Energy Company has a 12-month low of $7.68 and a 12-month high of $14.29. The firm has a market cap of $3.73 billion, a PE ratio of -15.05 and a beta of 1.40. 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 (NYSE:CRGY) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the firm posted $0.57 EPS. Crescent Energy’s revenue for the quarter was up 24.5% on a year-over-year basis. As a group, equities analysts predict that Crescent Energy Company will post 1.77 EPS for the current year.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were paid 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 4.3%. Crescent Energy’s dividend payout ratio is currently -64.00%.

Crescent Energy Company Profile

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.