Marshall Wace LLP Grows Stock Position in Crescent Energy (NYSE:CRGY)

Marshall Wace LLP raised its position in Crescent Energy (NYSE:CRGY) by 286.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,830,118 shares of the company’s stock after buying an additional 2,098,303 shares during the quarter. Marshall Wace LLP owned about 1.59% of Crescent Energy worth $33,537,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. CWM LLC raised its stake in Crescent Energy by 618.9% in the 2nd quarter. CWM LLC now owns 2,128 shares of the company’s stock valued at $25,000 after acquiring an additional 1,832 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Crescent Energy in the 2nd quarter worth approximately $32,000. Spirit of America Management Corp NY purchased a new position in Crescent Energy in the 2nd quarter valued at approximately $36,000. GAMMA Investing LLC raised its holdings in Crescent Energy by 186.5% during the 1st quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock valued at $54,000 after acquiring an additional 2,934 shares during the period. Finally, Equitec Proprietary Markets LLC purchased a new stake in shares of Crescent Energy during the second quarter worth $107,000. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on CRGY. Truist Financial decreased their price objective on Crescent Energy from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Wells Fargo & Company increased their price target on shares of Crescent Energy from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Wolfe Research assumed coverage on shares of Crescent Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $16.00 price objective for the company. Stephens reaffirmed an “overweight” rating and set a $20.00 target price on shares of Crescent Energy in a report on Tuesday, August 6th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $17.00 price objective on shares of Crescent Energy in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $16.36.

Crescent Energy Stock Down 2.0 %

CRGY opened at $11.45 on Thursday. The business’s fifty day simple moving average is $11.28 and its 200 day simple moving average is $11.59. Crescent Energy has a 52 week low of $9.88 and a 52 week high of $13.85. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 1.13. The stock has a market cap of $2.03 billion, a PE ratio of -57.22 and a beta of 2.26.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.26 by $0.05. The firm had revenue of $653.28 million for the quarter, compared to analyst estimates of $619.00 million. Crescent Energy had a return on equity of 13.41% and a net margin of 0.61%. As a group, research analysts expect that Crescent Energy will post 1.5 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were issued a $0.12 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.19%. Crescent Energy’s payout ratio is -239.99%.

Insider Activity

In other Crescent Energy news, Director Michael Duginski bought 9,344 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average price of $10.62 per share, for a total transaction of $99,233.28. Following the transaction, the director now directly owns 201,081 shares in the company, valued at $2,135,480.22. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders acquired 12,294 shares of company stock valued at $131,297. Corporate insiders own 13.20% of the company’s stock.

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.