Lombard Odier Asset Management USA Corp Invests $1.18 Million in Crescent Energy Company $CRGY

Lombard Odier Asset Management USA Corp bought a new position in shares of Crescent Energy Company (NYSE:CRGY) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 140,000 shares of the company’s stock, valued at approximately $1,175,000. Lombard Odier Asset Management USA Corp owned 0.05% of Crescent Energy at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CRGY. Vanguard Group Inc. raised its stake in Crescent Energy by 34.6% in the 4th quarter. Vanguard Group Inc. now owns 27,292,081 shares of the company’s stock valued at $228,981,000 after acquiring an additional 7,015,982 shares during the period. State Street Corp raised its stake in Crescent Energy by 27.6% in the 4th quarter. State Street Corp now owns 12,808,605 shares of the company’s stock valued at $107,464,000 after acquiring an additional 2,767,096 shares during the period. Charles Schwab Investment Management Inc. raised its stake 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 acquiring an additional 2,234,324 shares during the period. Dimensional Fund Advisors LP raised its stake in Crescent Energy by 20.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,872,215 shares of the company’s stock valued at $107,999,000 after acquiring an additional 2,213,352 shares during the period. Finally, American Century Companies Inc. raised its stake in Crescent Energy by 8.0% in the 3rd quarter. American Century Companies Inc. now owns 19,363,386 shares of the company’s stock valued at $172,721,000 after acquiring an additional 1,434,789 shares during the period. 52.11% of the stock is currently owned by institutional investors.

Crescent Energy Stock Down 1.8%

CRGY stock opened at $10.83 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $3.58 billion, a PE ratio of -14.44 and a beta of 1.37. Crescent Energy Company has a twelve month low of $7.68 and a twelve month high of $14.29. The stock has a 50-day simple moving average of $12.50 and a two-hundred day simple moving average of $10.95.

Crescent Energy (NYSE:CRGY) last posted its earnings results on Monday, May 4th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.14. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. Crescent Energy had a positive return on equity of 8.10% and a negative net margin of 7.47%.The company’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.57 EPS. On average, equities analysts predict that Crescent Energy Company will post 1.99 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The business also recently announced 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. This represents a $0.48 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Monday, May 18th. Crescent Energy’s payout ratio is presently -64.00%.

Analysts Set New Price Targets

CRGY has been the topic of a number of research reports. JPMorgan Chase & Co. upgraded Crescent Energy from a “neutral” rating to an “overweight” rating and set a $19.00 price objective on the stock in a research note on Friday, March 20th. William Blair restated an “outperform” rating on shares of Crescent Energy in a research note on Friday, March 6th. Zacks Research upgraded Crescent Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 3rd. Stephens restated an “overweight” rating and issued a $18.00 price objective on shares of Crescent Energy in a research note on Tuesday, May 5th. Finally, Piper Sandler boosted their price objective on Crescent Energy from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $16.00.

Crescent Energy 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.