Marshall Wace LLP Trims Stock Holdings in Crescent Energy (NYSE:CRGY)

Marshall Wace LLP decreased its stake in shares of Crescent Energy (NYSE:CRGY - Free Report) by 82.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 622,315 shares of the company's stock after selling 2,854,393 shares during the period. Marshall Wace LLP owned about 0.27% of Crescent Energy worth $9,092,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CRGY. Barclays PLC lifted its position in Crescent Energy by 579.6% during the third quarter. Barclays PLC now owns 241,137 shares of the company's stock valued at $2,641,000 after purchasing an additional 205,657 shares during the period. Geode Capital Management LLC lifted its position in Crescent Energy by 53.2% during the third quarter. Geode Capital Management LLC now owns 3,354,700 shares of the company's stock valued at $36,741,000 after purchasing an additional 1,164,306 shares during the period. GAMMA Investing LLC lifted its position in Crescent Energy by 48.3% during the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company's stock valued at $73,000 after purchasing an additional 1,621 shares during the period. Everence Capital Management Inc. bought a new position in Crescent Energy in the fourth quarter worth approximately $312,000. Finally, Harbor Capital Advisors Inc. raised its position in Crescent Energy by 2.4% in the fourth quarter. Harbor Capital Advisors Inc. now owns 37,831 shares of the company's stock worth $553,000 after acquiring an additional 897 shares during the period. Institutional investors own 52.11% of the company's stock.

Crescent Energy Price Performance

CRGY traded down $0.03 during trading on Monday, hitting $8.69. 3,179,359 shares of the company traded hands, compared to its average volume of 3,254,048. The company has a market cap of $2.25 billion, a PE ratio of 14.02 and a beta of 1.88. The stock's 50-day simple moving average is $10.30 and its two-hundred day simple moving average is $12.98. Crescent Energy has a 1 year low of $6.83 and a 1 year high of $16.94. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 annualized dividend and a yield of 5.52%. Crescent Energy's payout ratio is -69.57%.

Insider Activity at Crescent Energy

In other Crescent Energy news, Director Michael Duginski acquired 20,000 shares of the company's stock in a transaction on Thursday, March 13th. The stock was acquired at an average cost of $10.57 per share, with a total value of $211,400.00. Following the purchase, the director now directly owns 259,607 shares of the company's stock, valued at approximately $2,744,045.99. This represents a 8.35 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was 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. Over the last ninety days, insiders purchased 24,932 shares of company stock valued at $263,219. Corporate insiders own 13.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CRGY shares. Siebert Williams Shank started coverage on shares of Crescent Energy in a research report on Monday, February 3rd. They issued a "buy" rating on the stock. JPMorgan Chase & Co. decreased their price target on shares of Crescent Energy from $18.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Truist Financial increased their price target on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Citigroup downgraded shares of Crescent Energy to a "reduce" rating in a research report on Wednesday, March 5th. Finally, Mizuho increased their price target on shares of Crescent Energy from $16.00 to $17.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has given 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 $16.80.

Crescent Energy Company 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.