Vanguard Group Inc. Raises Stake in Crescent Energy (NYSE:CRGY)

Vanguard Group Inc. grew its position in shares of Crescent Energy (NYSE:CRGY - Free Report) by 94.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,641,227 shares of the company's stock after purchasing an additional 3,705,389 shares during the quarter. Vanguard Group Inc. owned approximately 4.25% of Crescent Energy worth $96,585,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Crescent Energy in the 2nd quarter valued at about $64,000. Tower Research Capital LLC TRC increased its stake in Crescent Energy by 227.3% in the third quarter. Tower Research Capital LLC TRC now owns 6,591 shares of the company's stock valued at $88,000 after purchasing an additional 4,577 shares in the last quarter. Amalgamated Bank boosted its position in shares of Crescent Energy by 31.1% during the 4th quarter. Amalgamated Bank now owns 6,854 shares of the company's stock worth $82,000 after purchasing an additional 1,626 shares in the last quarter. Arete Wealth Advisors LLC acquired a new stake in shares of Crescent Energy in the 1st quarter valued at about $113,000. Finally, Salem Investment Counselors Inc. bought a new stake in Crescent Energy in the 1st quarter valued at about $173,000. 52.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Crescent Energy

In related news, major shareholder Energy Aggregator Independence sold 13,800,000 shares of the business's stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $9.87, for a total transaction of $136,206,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 13.20% of the company's stock.

Wall Street Analysts Forecast Growth

CRGY has been the topic of a number of research reports. Truist Financial lowered their target price on Crescent Energy from $23.00 to $19.00 and set a "buy" rating on the stock in a research report on Friday. Raymond James dropped their price target on shares of Crescent Energy from $16.00 to $15.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, January 24th. Stephens reaffirmed an "overweight" rating and set a $17.00 price objective on shares of Crescent Energy in a report on Tuesday, March 5th. Mizuho reissued a "neutral" rating and set a $13.00 price target (down from $14.00) on shares of Crescent Energy in a research report on Friday, March 22nd. Finally, TheStreet upgraded Crescent Energy from a "d" rating to a "c-" rating in a research note on Wednesday, February 14th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $16.00.

Crescent Energy Stock Performance

Shares of NYSE:CRGY traded up $0.24 during midday trading on Friday, reaching $11.98. 3,843,915 shares of the company traded hands, compared to its average volume of 1,336,966. The firm's fifty day moving average price is $11.17 and its two-hundred day moving average price is $11.61. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 9.33, a price-to-earnings-growth ratio of 0.88 and a beta of 2.24. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.98. Crescent Energy has a 12 month low of $9.17 and a 12 month high of $14.22.

Crescent Energy (NYSE:CRGY - Get Free Report) last announced its quarterly earnings results on Monday, March 4th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.37. Crescent Energy had a return on equity of 13.30% and a net margin of 2.84%. The firm had revenue of $657.73 million for the quarter, compared to analysts' expectations of $584.12 million. On average, equities analysts expect that Crescent Energy will post 1.28 earnings per share for the current year.

Crescent Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.01%. The ex-dividend date was Thursday, March 14th. Crescent Energy's dividend payout ratio is presently 37.21%.

Crescent Energy Company Profile

Crescent Energy Company, an energy company, acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. The company holds a portfolio of oil and natural gas assets in key proven regions, including the Eagle Ford, Marcellus, Utica, and Rockies in the United States.