Vanguard Group Inc. Has $231.61 Million Holdings in Crescent Energy Company $CRGY

Key Points

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Vanguard Group Inc. reduced its holdings in Crescent Energy Company (NYSE:CRGY - Free Report) by 0.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,605,608 shares of the company's stock after selling 143,901 shares during the quarter. Vanguard Group Inc. owned 7.97% of Crescent Energy worth $231,607,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP bought a new stake in shares of Crescent Energy in the 1st quarter worth approximately $34,000. Public Employees Retirement System of Ohio raised its holdings in shares of 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 in the last quarter. Quarry LP raised its holdings in shares of Crescent Energy by 263.4% in the 4th quarter. Quarry LP now owns 4,353 shares of the company's stock worth $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 in the 1st quarter worth approximately $117,000. Finally, Paloma Partners Management Co bought a new stake in shares of Crescent Energy in the 4th quarter worth approximately $146,000. 52.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CRGY shares. Wells Fargo & Company dropped 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 lifted their target price on shares of Crescent Energy from $14.00 to $15.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Wall Street Zen raised shares of Crescent Energy from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Raymond James Financial reissued a "strong-buy" rating and issued a $14.00 target price (down from $16.00) on shares of Crescent Energy in a research report on Friday. Finally, Mizuho dropped their target price on shares of Crescent Energy from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. One equities 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $15.70.

Crescent Energy Stock Up 5.9%

NYSE CRGY traded up $0.5520 during trading on Friday, reaching $9.9320. The company's stock had a trading volume of 2,708,298 shares, compared to its average volume of 2,959,470. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.75. The stock 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 price of $9.13 and a 200-day moving average price of $9.86. Crescent Energy Company has a 1-year low of $6.83 and a 1-year high of $16.94.

Crescent Energy (NYSE:CRGY - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.20. The firm had revenue of $897.98 million during the quarter, compared to analysts' expectations of $868.34 million. Crescent Energy had a net margin of 0.67% and a return on equity of 13.35%. On average, research analysts forecast that Crescent Energy Company will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

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

About Crescent Energy

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.