Crescent Energy Company $CRGY Shares Bought by Legal & General Group Plc

Key Points

• Legal & General Group Plc increased its stake in Crescent Energy by 27.5% in the fourth quarter, adding 126,330 shares and bringing its total holdings to 585,827 shares valued at about $4.9 million.
• Institutional interest in CRGY remains strong, with several major firms like Vanguard, American Century, and Dimensional Fund Advisors also boosting their positions; hedge funds and other institutions own 52.11% of the stock.
• Crescent Energy recently beat earnings and revenue estimates, reporting $0.53 EPS on $1.18 billion in revenue, while analysts currently rate the stock a Moderate Buy with a consensus price target of $16.00.

Legal & General Group Plc lifted its position in shares of Crescent Energy Company (NYSE:CRGY - Free Report) by 27.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 585,827 shares of the company's stock after acquiring an additional 126,330 shares during the quarter. Legal & General Group Plc owned 0.23% of Crescent Energy worth $4,915,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CRGY. Vanguard Group Inc. boosted its stake in shares of Crescent Energy by 34.6% during the 4th quarter. Vanguard Group Inc. now owns 27,292,081 shares of the company's stock worth $228,981,000 after acquiring an additional 7,015,982 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Crescent Energy by 8.0% during the 3rd quarter. American Century Companies Inc. now owns 19,363,386 shares of the company's stock worth $172,721,000 after acquiring an additional 1,434,789 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Crescent Energy by 13.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 10,658,863 shares of the company's stock worth $95,080,000 after acquiring an additional 1,243,702 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Crescent Energy by 42.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,969,411 shares of the company's stock worth $44,616,000 after acquiring an additional 1,174,576 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Crescent Energy by 3,697.3% during the 3rd quarter. Marshall Wace LLP now owns 1,055,773 shares of the company's stock worth $9,417,000 after acquiring an additional 1,027,970 shares in the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CRGY shares. Mizuho increased their target price on shares of Crescent Energy from $14.00 to $15.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 27th. Wall Street Zen raised shares of Crescent Energy from a "hold" rating to a "buy" rating in a research note on Sunday, May 10th. Zacks Research raised shares of Crescent Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 3rd. Wells Fargo & Company increased their target price on shares of Crescent Energy from $14.00 to $18.00 and gave the stock an "overweight" rating in a research note on Thursday, April 23rd. Finally, Johnson Rice reissued an "accumulate" rating and set a $19.00 target price on shares of Crescent Energy in a research note on Wednesday, March 25th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Crescent Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.00.

Crescent Energy Trading Down 0.0%

Shares of Crescent Energy stock opened at $11.54 on Monday. The firm has a market capitalization of $3.81 billion, a PE ratio of -15.38 and a beta of 1.37. Crescent Energy Company has a twelve month low of $7.68 and a twelve month high of $14.29. The firm's 50-day moving average price is $12.79 and its 200 day moving average price is $10.83. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.12.

Crescent Energy (NYSE:CRGY - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $0.14. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. Crescent Energy had a negative net margin of 7.47% and a positive return on equity of 8.10%. Crescent Energy's quarterly revenue was up 24.5% compared to the same quarter last year. During the same period last year, the company posted $0.57 EPS. On average, sell-side analysts predict that Crescent Energy Company will post 1.99 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.2%. Crescent Energy's dividend payout ratio is presently -64.00%.

Crescent Energy Profile

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.

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