M&T Bank Corp Has $127,000 Stake in Crescent Energy Company (NYSE:CRGY)

M&T Bank Corp lessened its position in shares of Crescent Energy Company (NYSE:CRGY - Free Report) by 76.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,252 shares of the company's stock after selling 35,568 shares during the period. M&T Bank Corp's holdings in Crescent Energy were worth $127,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRGY. Principal Financial Group Inc. boosted its holdings in shares of Crescent Energy by 7.4% in the 1st quarter. Principal Financial Group Inc. now owns 910,171 shares of the company's stock valued at $10,230,000 after buying an additional 62,622 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Crescent Energy by 3.0% in the 1st quarter. Amalgamated Bank now owns 51,467 shares of the company's stock valued at $578,000 after purchasing an additional 1,506 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Crescent Energy in the 4th quarter valued at about $1,811,000. SCP Investment LP acquired a new stake in Crescent Energy in the 4th quarter valued at about $409,000. Finally, Clearbridge Investments LLC acquired a new stake in Crescent Energy in the 4th quarter valued at about $9,869,000. Institutional investors and hedge funds own 52.11% of the company's stock.

Crescent Energy Trading Up 3.4%

NYSE CRGY traded up $0.29 on Friday, hitting $8.72. 4,402,572 shares of the company were exchanged, compared to its average volume of 3,469,576. The company's 50 day moving average price is $8.99 and its 200-day moving average price is $11.00. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market capitalization of $2.23 billion, a P/E ratio of -19.38 and a beta of 1.74. Crescent Energy Company has a twelve month low of $6.83 and a twelve month high of $16.94.

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

Crescent Energy Dividend Announcement

The firm also recently declared 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 was Monday, May 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.50%. Crescent Energy's dividend payout ratio (DPR) is presently -106.67%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company decreased their target price on shares of Crescent Energy from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Monday, June 16th. Piper Sandler raised their price target on shares of Crescent Energy from $14.00 to $15.00 and gave the company an "overweight" rating in a report on Thursday. Raymond James Financial restated a "strong-buy" rating and issued a $18.00 price target (down previously from $23.00) on shares of Crescent Energy in a report on Friday, March 28th. Mizuho cut their price target 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, KeyCorp cut their price target on shares of Crescent Energy from $18.00 to $14.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company 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.