1,937,907 Shares in Crescent Energy Company $CRGY Acquired by Nuveen LLC

Key Points

• Nuveen LLC has invested approximately $21.78 million in Crescent Energy Company, acquiring nearly 1.94 million shares, which represents about 0.76% ownership of the company.
• Several hedge funds have increased their stakes in Crescent Energy, with JPMorgan Chase raising its stake by 326.2% during the fourth quarter, reflecting growing institutional interest in the company.
• Crescent Energy recently disclosed a $0.12 quarterly dividend, yielding 5.2%, despite a notable dividend payout ratio of -266.67% due to its financial structure.

Nuveen LLC acquired a new position in Crescent Energy Company (NYSE:CRGY - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,937,907 shares of the company's stock, valued at approximately $21,782,000. Nuveen LLC owned 0.76% of Crescent Energy at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CRGY. JPMorgan Chase & Co. lifted its position in shares of Crescent Energy by 326.2% during the fourth quarter. JPMorgan Chase & Co. now owns 268,844 shares of the company's stock valued at $3,928,000 after buying an additional 205,760 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Crescent Energy by 13.7% during the fourth quarter. Wells Fargo & Company MN now owns 211,574 shares of the company's stock valued at $3,091,000 after buying an additional 25,447 shares during the last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of Crescent Energy during the fourth quarter valued at about $187,000. Bank of Montreal Can lifted its position in shares of Crescent Energy by 140.8% during the fourth quarter. Bank of Montreal Can now owns 32,949 shares of the company's stock valued at $481,000 after buying an additional 19,265 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Crescent Energy during the fourth quarter valued at about $1,811,000. 52.11% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Stock Up 5.9%

Shares of CRGY traded up $0.5520 during mid-day trading on Friday, hitting $9.9320. 2,708,298 shares of the company traded hands, compared to its average volume of 2,959,470. Crescent Energy Company has a 1-year low of $6.83 and a 1-year high of $16.94. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $2.53 billion, a PE ratio of -55.18 and a beta of 1.86. The business has a 50 day moving average of $9.13 and a 200 day moving average of $9.86.

Crescent Energy (NYSE:CRGY - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.43 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $868.34 million. Equities research analysts anticipate that Crescent Energy Company will post 0.77 EPS for the current year.

Crescent Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.8%. The ex-dividend date is Monday, August 18th. Crescent Energy's dividend payout ratio is -266.67%.

Analyst Ratings Changes

CRGY has been the subject of several analyst reports. Wall Street Zen raised shares of Crescent Energy from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Piper Sandler increased their price target on shares of Crescent Energy from $14.00 to $15.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Raymond James Financial reissued a "strong-buy" rating and set a $14.00 price target (down from $16.00) on shares of Crescent Energy in a research report on Friday. Wells Fargo & Company decreased their price target on shares of Crescent Energy from $20.00 to $19.00 and set an "overweight" rating for the company in a research report on Monday, June 16th. Finally, Mizuho cut their price objective 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. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Crescent Energy presently has an average rating of "Moderate Buy" and an average price target of $15.70.

Crescent Energy Company 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.