Vanguard Group Inc. Sells 143,901 Shares of Crescent Energy Company $CRGY

Vanguard Group Inc. trimmed its position in shares of Crescent Energy Company (NYSE:CRGY) by 0.7% during the 1st quarter, according to the company in its most recent 13F filing with the 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 approximately 7.97% of Crescent Energy worth $231,607,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Jefferies Financial Group Inc. bought a new stake in Crescent Energy during the 1st quarter valued at approximately $363,000. Natixis Advisors LLC boosted its position in Crescent Energy by 50.5% during the 1st quarter. Natixis Advisors LLC now owns 21,791 shares of the company’s stock valued at $245,000 after acquiring an additional 7,314 shares in the last quarter. XTX Topco Ltd bought a new stake in Crescent Energy during the 1st quarter valued at approximately $661,000. Federated Hermes Inc. boosted its position in Crescent Energy by 212.6% during the 1st quarter. Federated Hermes Inc. now owns 932,863 shares of the company’s stock valued at $10,485,000 after acquiring an additional 634,417 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in Crescent Energy by 151.3% during the 1st quarter. Mackenzie Financial Corp now owns 26,068 shares of the company’s stock valued at $293,000 after acquiring an additional 15,696 shares in the last quarter. 52.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. KeyCorp cut their price objective on Crescent Energy from $18.00 to $14.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Mizuho cut their price objective on Crescent Energy from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Wells Fargo & Company cut their price objective on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, June 16th. Wall Street Zen upgraded shares of Crescent Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Finally, Piper Sandler lifted their target price on shares of Crescent Energy from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Thursday, July 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Crescent Energy currently has an average rating of “Moderate Buy” and a consensus price target of $16.10.

Crescent Energy Price Performance

Shares of NYSE CRGY opened at $9.32 on Tuesday. Crescent Energy Company has a twelve month low of $6.83 and a twelve month high of $16.94. The firm has a market cap of $2.37 billion, a P/E ratio of -51.76 and a beta of 1.86. The company has a 50 day moving average of $9.13 and a 200 day moving average of $9.98. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.75.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.20. Crescent Energy had a net margin of 0.67% and a return on equity of 13.35%. The company had revenue of $897.98 million during the quarter, compared to analyst estimates of $868.34 million. As a group, research analysts expect that Crescent Energy Company will post 0.77 EPS 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. Investors of record on Monday, August 18th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 5.2%. 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.