M&T Bank Corp Reduces Holdings in Crescent Energy Company (NYSE:CRGY)

M&T Bank Corp lessened its holdings in shares of Crescent Energy Company (NYSE:CRGY - Free Report) by 76.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,252 shares of the company's stock after selling 35,568 shares during the quarter. M&T Bank Corp's holdings in Crescent Energy were worth $127,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Public Employees Retirement System of Ohio increased its stake in Crescent Energy by 35.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company's stock worth $40,000 after purchasing an additional 705 shares during the period. Quarry LP boosted its position in shares of Crescent Energy by 263.4% during the fourth quarter. Quarry LP now owns 4,353 shares of the company's stock valued at $64,000 after purchasing an additional 3,155 shares in the last quarter. KBC Group NV bought a new stake in shares of Crescent Energy during the first quarter valued at approximately $117,000. Paloma Partners Management Co bought a new stake in shares of Crescent Energy during the fourth quarter valued at approximately $146,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Crescent Energy by 619.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company's stock valued at $152,000 after purchasing an additional 8,942 shares in the last quarter. Institutional investors own 52.11% of the company's stock.

Crescent Energy Price Performance

NYSE CRGY traded up $0.27 during trading hours on Wednesday, reaching $8.91. The company's stock had a trading volume of 2,873,220 shares, compared to its average volume of 3,457,684. 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 Company has a 1-year low of $6.83 and a 1-year high of $16.94. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of -19.79 and a beta of 1.74. The company's 50-day moving average is $8.96 and its two-hundred day moving average is $10.91.

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

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 5.39%. The ex-dividend date was Monday, May 19th. Crescent Energy's payout ratio is currently -106.67%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CRGY shares. KeyCorp lowered their price target on Crescent Energy from $18.00 to $14.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Wells Fargo & Company reduced their price target on Crescent Energy from $20.00 to $19.00 and set an "overweight" rating for the company in a research report on Monday, June 16th. Mizuho dropped their price objective on Crescent Energy from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Piper Sandler upped their price objective on Crescent Energy from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $18.00 price objective (down previously from $23.00) on shares of Crescent Energy in a research note on Friday, March 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.10.

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.