Crescent Energy Company (NYSE:CRGY) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in shares of Crescent Energy Company (NYSE:CRGY - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,435,708 shares of the company's stock after purchasing an additional 173,832 shares during the quarter. Bank of New York Mellon Corp owned approximately 3.65% of Crescent Energy worth $106,057,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CRGY. Public Employees Retirement System of Ohio grew its position in Crescent Energy by 35.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company's stock valued at $40,000 after acquiring an additional 705 shares during the last quarter. Hsbc Holdings PLC grew its position in Crescent Energy by 4.3% during the fourth quarter. Hsbc Holdings PLC now owns 18,902 shares of the company's stock valued at $276,000 after acquiring an additional 785 shares during the last quarter. Dark Forest Capital Management LP grew its position in Crescent Energy by 4.0% during the fourth quarter. Dark Forest Capital Management LP now owns 33,350 shares of the company's stock valued at $487,000 after acquiring an additional 1,282 shares during the last quarter. Yousif Capital Management LLC grew its position in Crescent Energy by 2.1% during the first quarter. Yousif Capital Management LLC now owns 66,806 shares of the company's stock valued at $751,000 after acquiring an additional 1,382 shares during the last quarter. Finally, Amalgamated Bank grew its position in Crescent Energy by 3.0% during the first quarter. Amalgamated Bank now owns 51,467 shares of the company's stock valued at $578,000 after acquiring an additional 1,506 shares during the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Trading Down 0.1%

Shares of CRGY traded down $0.01 during mid-day trading on Friday, reaching $9.29. 862,883 shares of the company's stock traded hands, compared to its average volume of 3,478,780. The stock has a market cap of $2.37 billion, a P/E ratio of -20.63 and a beta of 1.74. The stock's 50-day moving average is $8.95 and its two-hundred day moving average is $11.25. Crescent Energy Company has a 12 month low of $6.83 and a 12 month high of $16.94. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.78 and a quick ratio of 0.78.

Crescent Energy (NYSE:CRGY - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.09. The firm had revenue of $950.17 million during the quarter, compared to analyst estimates of $937.55 million. Crescent Energy had a positive return on equity of 14.21% and a negative net margin of 2.88%. Research analysts forecast that Crescent Energy Company will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.48 annualized dividend and a dividend yield of 5.17%. Crescent Energy's dividend payout ratio is presently -106.67%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CRGY shares. Piper Sandler started coverage on shares of Crescent Energy in a report on Monday, June 9th. They issued an "overweight" rating and a $14.00 target price on the stock. Raymond James Financial restated a "strong-buy" rating and issued a $18.00 target price (down previously from $23.00) on shares of Crescent Energy in a report on Friday, March 28th. Wells Fargo & Company cut their target price on shares of Crescent Energy from $20.00 to $19.00 and set an "overweight" rating on the stock in a report on Monday, June 16th. Mizuho cut their target price on shares of Crescent Energy from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. cut their target price on shares of Crescent Energy from $18.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.00.

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.