Charles Schwab Investment Management Inc. Acquires 230,442 Shares of Crescent Energy Company $CRGY

Charles Schwab Investment Management Inc. lifted its holdings in Crescent Energy Company (NYSE:CRGY) by 11.6% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,215,262 shares of the company’s stock after acquiring an additional 230,442 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.86% of Crescent Energy worth $24,900,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio lifted 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 acquiring an additional 705 shares during the last quarter. Allworth Financial LP bought a new stake in shares of Crescent Energy in the 1st quarter worth approximately $34,000. Quarry LP lifted 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 acquiring an additional 3,155 shares during the last quarter. Paloma Partners Management Co bought a new stake in shares of Crescent Energy in the 4th quarter worth approximately $146,000. Finally, KBC Group NV bought a new stake in shares of Crescent Energy in the 1st quarter worth approximately $117,000. 52.11% of the stock is currently owned by institutional investors.

Crescent Energy Trading Up 0.6%

NYSE:CRGY opened at $9.2760 on Thursday. The company has a fifty day moving average of $9.13 and a 200 day moving average of $9.97. Crescent Energy Company has a 52 week low of $6.83 and a 52 week high of $16.94. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $2.36 billion, a P/E ratio of -51.53 and a beta of 1.86.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.43 EPS for the quarter, beating 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. On average, research analysts predict that Crescent Energy Company will post 0.77 earnings per share for the current year.

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be issued a $0.12 dividend. The ex-dividend date is Monday, August 18th. This represents a $0.48 annualized dividend and a yield of 5.2%. Crescent Energy’s dividend payout ratio is -266.67%.

Wall Street Analysts Forecast Growth

CRGY has been the subject of a number of recent research reports. Wells Fargo & Company lowered their price objective on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, June 16th. Piper Sandler boosted their price objective on shares of Crescent Energy from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Wall Street Zen upgraded shares of Crescent Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Finally, Mizuho lowered their price target on shares of Crescent Energy from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.10.

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.