Northern Trust Corp lessened its position in shares of Crescent Energy Company (NYSE:CRGY - Free Report) by 6.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,671,388 shares of the company's stock after selling 120,089 shares during the quarter. Northern Trust Corp owned about 0.65% of Crescent Energy worth $18,786,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. acquired a new position in Crescent Energy during the 4th quarter valued at approximately $187,000. Hsbc Holdings PLC increased its stake in Crescent Energy by 4.3% during the 4th quarter. Hsbc Holdings PLC now owns 18,902 shares of the company's stock valued at $276,000 after purchasing an additional 785 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Crescent Energy by 37.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 87,040 shares of the company's stock valued at $1,272,000 after purchasing an additional 23,643 shares in the last quarter. Voya Investment Management LLC increased its stake in Crescent Energy by 67.8% during the 4th quarter. Voya Investment Management LLC now owns 115,600 shares of the company's stock valued at $1,689,000 after purchasing an additional 46,695 shares in the last quarter. Finally, Comerica Bank increased its stake in Crescent Energy by 2,401.9% during the 4th quarter. Comerica Bank now owns 63,072 shares of the company's stock valued at $921,000 after purchasing an additional 60,551 shares in the last quarter. Institutional investors own 52.11% of the company's stock.
Analyst Upgrades and Downgrades
CRGY has been the topic of a number of recent analyst reports. Raymond James Financial set a $17.00 price target on shares of Crescent Energy and gave the company a "strong-buy" rating in a research note on Wednesday, August 27th. Piper Sandler increased their price objective on shares of Crescent Energy from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Zacks Research lowered shares of Crescent Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. Wall Street Zen upgraded shares of Crescent Energy from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, William Blair began coverage on shares of Crescent Energy in a report on Monday, August 25th. They set an "outperform" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.00.
View Our Latest Research Report on Crescent Energy
Crescent Energy Trading Down 5.2%
Crescent Energy stock traded down $0.49 during midday trading on Friday, hitting $8.76. 6,155,073 shares of the stock were exchanged, compared to its average volume of 3,622,255. Crescent Energy Company has a fifty-two week low of $6.83 and a fifty-two week high of $16.94. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of -48.73 and a beta of 1.98. The stock's 50-day simple moving average is $9.17 and its 200 day simple moving average is $9.56. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.75.
Crescent Energy (NYSE:CRGY - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.20. Crescent Energy had a net margin of 0.67% and a return on equity of 13.35%. The firm had revenue of $897.98 million during the quarter, compared to analysts' expectations of $868.34 million. On average, equities analysts anticipate that Crescent Energy Company will post 0.77 EPS for the current year.
Crescent Energy Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 5.5%. The ex-dividend date was Monday, August 18th. Crescent Energy's dividend payout ratio (DPR) is presently -266.67%.
About Crescent Energy
(
Free Report)
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.
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