Charles Schwab Investment Management Inc. Has $17.37 Million Stock Holdings in Crescent Energy (NYSE:CRGY)

Charles Schwab Investment Management Inc. raised its stake in Crescent Energy (NYSE:CRGY) by 59.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,586,265 shares of the company’s stock after acquiring an additional 589,665 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.89% of Crescent Energy worth $17,370,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Landscape Capital Management L.L.C. acquired a new position in Crescent Energy in the 3rd quarter valued at $155,000. Intech Investment Management LLC acquired a new position in shares of Crescent Energy during the 3rd quarter worth $350,000. Jennison Associates LLC raised its holdings in shares of Crescent Energy by 123.9% during the 3rd quarter. Jennison Associates LLC now owns 1,430,964 shares of the company’s stock worth $15,669,000 after buying an additional 791,794 shares in the last quarter. Segall Bryant & Hamill LLC raised its holdings in shares of 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 buying an additional 1,001,552 shares in the last quarter. Finally, Phocas Financial Corp. acquired a new position in shares of Crescent Energy during the 3rd quarter worth $3,400,000. 52.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CRGY has been the subject of a number of research analyst reports. Raymond James boosted their price target on Crescent Energy from $19.00 to $20.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 21st. Wells Fargo & Company lowered their price target on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Truist Financial boosted their price target on Crescent Energy from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday. Stephens upped their target price on Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $17.00 target price on shares of Crescent Energy in a report on Tuesday, September 24th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Crescent Energy currently has an average rating of “Buy” and an average target price of $16.60.

Crescent Energy Trading Down 1.5 %

NYSE CRGY opened at $14.20 on Friday. The business’s 50-day moving average price is $13.37 and its two-hundred day moving average price is $12.26. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $15.54. The firm has a market capitalization of $3.24 billion, a PE ratio of 22.90 and a beta of 2.17. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings results 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 return on equity of 12.53% and a net margin of 2.17%. The firm had revenue of $744.87 million for the quarter, compared to analyst estimates of $793.88 million. During the same quarter in the previous year, the company posted $0.35 EPS. On average, analysts expect that Crescent Energy will post 0.97 EPS for the current year.

Crescent Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were given a $0.12 dividend. The ex-dividend date was Monday, November 18th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.38%. Crescent Energy’s dividend payout ratio (DPR) is presently 77.42%.

About Crescent Energy

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.