Hotchkis & Wiley Capital Management LLC Increases Stock Position in Crescent Energy (NYSE:CRGY)

Hotchkis & Wiley Capital Management LLC raised its position in shares of Crescent Energy (NYSE:CRGY) by 77.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,029,818 shares of the company’s stock after buying an additional 1,324,328 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 1.71% of Crescent Energy worth $33,177,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. lifted its position in Crescent Energy by 444.8% during the second quarter. American Century Companies Inc. now owns 7,775,940 shares of the company’s stock valued at $92,145,000 after purchasing an additional 6,348,598 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Crescent Energy by 0.9% during the third quarter. The Manufacturers Life Insurance Company now owns 3,698,678 shares of the company’s stock valued at $40,501,000 after acquiring an additional 33,626 shares during the last quarter. Segall Bryant & Hamill LLC boosted its stake in Crescent Energy by 48.4% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 3,072,410 shares of the company’s stock worth $33,643,000 after purchasing an additional 1,001,552 shares during the last quarter. Marshall Wace LLP raised its holdings in Crescent Energy by 286.7% in the 2nd quarter. Marshall Wace LLP now owns 2,830,118 shares of the company’s stock valued at $33,537,000 after acquiring an additional 2,098,303 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Crescent Energy by 85.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,656,222 shares of the company’s stock valued at $31,477,000 after purchasing an additional 1,226,027 shares in the last quarter. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Crescent Energy Stock Performance

NYSE:CRGY opened at $15.15 on Wednesday. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of 24.43 and a beta of 2.17. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. Crescent Energy has a 1-year low of $9.88 and a 1-year high of $15.54. The firm’s fifty day moving average price is $13.11 and its 200 day moving average price is $12.19.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.11. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. The firm had revenue of $744.87 million during the quarter, compared to the consensus estimate of $793.88 million. During the same quarter last year, the firm earned $0.35 earnings per share. On average, sell-side analysts expect that Crescent Energy will post 0.97 EPS for the current year.

Crescent Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend was Monday, November 18th. Crescent Energy’s dividend payout ratio (DPR) is currently 77.42%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Stephens upped their price objective on shares of Crescent Energy from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Mizuho lifted their target price on Crescent Energy from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Wells Fargo & Company reduced their price objective on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Evercore ISI reiterated an “outperform” rating and set a $17.00 price target on shares of Crescent Energy in a report on Tuesday, September 24th. Finally, Raymond James boosted their price objective on shares of Crescent Energy from $19.00 to $20.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 21st. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Crescent Energy currently has a consensus rating of “Buy” and a consensus target price of $16.30.

Crescent Energy Profile

Crescent Energy Company acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. Its portfolio of assets comprises mid-cycle unconventional and conventional assets in the Eagle Ford and Uinta Basins. It also owns and operates various midstream assets, which provide services to customers.