M&T Bank Corp Sells 35,568 Shares of Crescent Energy Company (NYSE:CRGY)

M&T Bank Corp reduced its position in shares of Crescent Energy Company (NYSE:CRGY) by 76.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 11,252 shares of the company’s stock after selling 35,568 shares during the quarter. M&T Bank Corp’s holdings in Crescent Energy were worth $127,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in Crescent Energy by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 9,435,708 shares of the company’s stock valued at $106,057,000 after acquiring an additional 173,832 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Crescent Energy by 7.4% during the first quarter. Principal Financial Group Inc. now owns 910,171 shares of the company’s stock valued at $10,230,000 after buying an additional 62,622 shares during the period. Teacher Retirement System of Texas purchased a new position in shares of Crescent Energy during the first quarter valued at $290,000. Peregrine Capital Management LLC increased its stake in shares of Crescent Energy by 7.3% during the first quarter. Peregrine Capital Management LLC now owns 399,524 shares of the company’s stock valued at $4,491,000 after buying an additional 27,128 shares during the period. Finally, New York State Teachers Retirement System increased its stake in shares of Crescent Energy by 12.3% during the first quarter. New York State Teachers Retirement System now owns 61,361 shares of the company’s stock valued at $690,000 after buying an additional 6,744 shares during the period. 52.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Raymond James Financial reiterated a “strong-buy” rating and set a $18.00 price target (down from $23.00) on shares of Crescent Energy in a research report on Friday, March 28th. Piper Sandler raised their price objective on Crescent Energy from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Thursday. Wells Fargo & Company dropped their price objective on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, June 16th. KeyCorp dropped their price objective on Crescent Energy from $18.00 to $14.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Finally, Mizuho dropped their price objective on Crescent Energy from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Crescent Energy presently has an average rating of “Moderate Buy” and an average target price of $16.10.

Crescent Energy Price Performance

NYSE:CRGY opened at $8.72 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $2.23 billion, a P/E ratio of -19.38 and a beta of 1.74. Crescent Energy Company has a 52 week low of $6.83 and a 52 week high of $16.94. The stock’s fifty day moving average is $8.99 and its two-hundred day moving average is $11.00.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.47 by $0.09. Crescent Energy had a negative net margin of 2.88% and a positive return on equity of 14.21%. The business had revenue of $950.17 million during the quarter, compared to analyst estimates of $937.55 million. Equities analysts expect that Crescent Energy Company will post 0.77 EPS for the current year.

Crescent Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.48 annualized dividend and a yield of 5.50%. Crescent Energy’s payout ratio is -106.67%.

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.