Mizuho Markets Americas LLC Makes New $9.46 Million Investment in Crescent Energy Company $CRGY

Mizuho Markets Americas LLC acquired a new stake in Crescent Energy Company (NYSE:CRGY) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 700,427 shares of the company’s stock, valued at approximately $9,456,000. Mizuho Markets Americas LLC owned approximately 0.21% of Crescent Energy as of its most recent filing with the SEC.

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

Crescent Energy Stock Up 0.1%

Shares of NYSE:CRGY opened at $11.39 on Friday. The stock’s 50-day moving average is $11.09 and its 200 day moving average is $11.18. The company has a market cap of $3.76 billion, a PE ratio of -15.19 and a beta of 1.40. 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 1 year low of $7.68 and a 1 year high of $14.29.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Monday, May 4th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.14. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Crescent Energy had a positive return on equity of 8.10% and a negative net margin of 7.47%.The business’s revenue was up 24.5% on a year-over-year basis. During the same quarter last year, the business posted $0.57 EPS. Sell-side analysts anticipate that Crescent Energy Company will post 1.77 EPS for the current year.

Crescent Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.48 dividend on an annualized basis and a yield of 4.2%. Crescent Energy’s dividend payout ratio (DPR) is presently -64.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wells Fargo & Company increased their target price on Crescent Energy from $14.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. KeyCorp restated an “overweight” rating and issued a $19.00 target price on shares of Crescent Energy in a report on Thursday, June 11th. Stephens reaffirmed an “overweight” rating and issued a $18.00 target price on shares of Crescent Energy in a research note on Tuesday, May 5th. Wall Street Zen lowered shares of Crescent Energy from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Finally, Mizuho increased their price target on shares of Crescent Energy from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $15.58.

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.