VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 179,400 Crescent Energy Company $CRGY

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Crescent Energy Company (NYSE:CRGY) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 179,400 shares of the company’s stock, valued at approximately $1,762,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Strs Ohio bought a new position in shares of Crescent Energy in the first quarter valued at approximately $32,000. Nomura Asset Management Co. Ltd. grew its stake 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 acquiring an additional 2,286 shares in the last quarter. Quarry LP increased its holdings in Crescent Energy by 303.5% during the 3rd quarter. Quarry LP now owns 4,152 shares of the company’s stock worth $37,000 after acquiring an additional 3,123 shares during the period. Allworth Financial LP lifted its stake in Crescent Energy by 42.3% in the 4th quarter. Allworth Financial LP now owns 4,712 shares of the company’s stock worth $40,000 after purchasing an additional 1,401 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its stake in Crescent Energy by 25.2% in the 2nd quarter. Osaic Holdings Inc. now owns 5,301 shares of the company’s stock worth $46,000 after purchasing an additional 1,066 shares in the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Stock Performance

Crescent Energy stock opened at $14.66 on Friday. The firm’s fifty day moving average price is $12.04 and its 200-day moving average price is $12.05. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $4.85 billion, a P/E ratio of -293.24 and a beta of 1.45. Crescent Energy Company has a fifty-two week low of $7.68 and a fifty-two week high of $14.67.

Crescent Energy (NYSE:CRGY) last announced its earnings results on Monday, August 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.10. The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.26 billion. Crescent Energy had a net margin of 1.27% and a return on equity of 10.52%. The firm’s revenue for the quarter was up 55.3% compared to the same quarter last year. On average, equities research analysts expect that Crescent Energy Company will post 2.07 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $0.48 annualized dividend and a yield of 3.3%. Crescent Energy’s payout ratio is -960.00%.

Analysts Set New Price Targets

CRGY has been the subject of a number of recent analyst reports. Weiss Ratings upgraded shares of Crescent Energy from a “sell (d)” rating to a “hold (c)” rating in a research report on Monday, August 17th. Morgan Stanley lowered Crescent Energy to an “underweight” rating in a research note on Monday, August 3rd. Seaport Research Partners assumed coverage on Crescent Energy in a research report on Thursday, September 3rd. They set a “sell” rating and a $12.00 target price for the company. Wall Street Zen upgraded Crescent Energy from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Wells Fargo & Company lowered their price target on Crescent Energy from $24.00 to $19.00 and set an “overweight” rating on the stock in a report on Wednesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Crescent Energy currently has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Crescent Energy Profile

Crescent Energy Company (NYSE: CRGY) is an independent energy company engaged in the acquisition, development and operation of oil and natural gas properties in the United States. Its activities include drilling, production, field operations and the management of onshore energy assets.

The company maintains a portfolio of producing and development properties in several U.S. regions, including the Eagle Ford, Uinta and Rocky Mountain areas. Its operations are focused primarily on crude oil, natural gas and natural gas liquids, with an emphasis on acquiring established assets and improving their production and operating performance.

Crescent Energy was formed in 2021 through the combination of Crescent Energy and Independence Energy, bringing together portfolios backed by private-equity investment.