Vanguard Group Inc. Raises Stock Holdings in Crescent Energy (NYSE:CRGY)

Vanguard Group Inc. grew its position in Crescent Energy (NYSE:CRGY) by 26.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,749,509 shares of the company’s stock after buying an additional 4,332,831 shares during the period. Vanguard Group Inc. owned 9.09% of Crescent Energy worth $303,150,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in Crescent Energy by 59.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,586,265 shares of the company’s stock valued at $17,370,000 after buying an additional 589,665 shares during the last quarter. FMR LLC boosted its position in Crescent Energy by 191.1% during the third quarter. FMR LLC now owns 657,337 shares of the company’s stock worth $7,198,000 after purchasing an additional 431,497 shares in the last quarter. MetLife Investment Management LLC grew its holdings in Crescent Energy by 43.0% in the third quarter. MetLife Investment Management LLC now owns 79,786 shares of the company’s stock valued at $874,000 after purchasing an additional 23,990 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Crescent Energy by 94.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,550 shares of the company’s stock valued at $532,000 after buying an additional 23,556 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Crescent Energy by 18.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 172,313 shares of the company’s stock worth $1,887,000 after buying an additional 27,279 shares during the period. 52.11% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Price Performance

CRGY stock opened at $7.81 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 12.59 and a beta of 2.18. The stock’s fifty day simple moving average is $12.81 and its 200-day simple moving average is $13.45. Crescent Energy has a 52-week low of $7.66 and a 52-week high of $16.94.

Crescent Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.48 annualized dividend and a yield of 6.15%. Crescent Energy’s payout ratio is -69.57%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Stephens reissued an “overweight” rating and issued a $17.00 price target on shares of Crescent Energy in a report on Monday, March 3rd. Truist Financial boosted their target price on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Siebert Williams Shank assumed coverage on Crescent Energy in a research note on Monday, February 3rd. They issued a “buy” rating for the company. Citigroup downgraded shares of Crescent Energy to a “reduce” rating in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. cut their target price on Crescent Energy from $18.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Crescent Energy has a consensus rating of “Moderate Buy” and a consensus price target of $17.09.

Insider Activity

In other news, Director Michael Duginski bought 20,000 shares of Crescent Energy stock in a transaction dated Thursday, March 13th. The shares were acquired at an average cost of $10.57 per share, with a total value of $211,400.00. Following the completion of the transaction, the director now owns 259,607 shares in the company, valued at approximately $2,744,045.99. This trade represents a 8.35 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $9.91, for a total transaction of $29,221,844.93. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 24,932 shares of company stock valued at $263,219. Company insiders own 13.20% of the company’s stock.

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.