Northern Trust Corp Sells 120,089 Shares of Crescent Energy Company $CRGY

Northern Trust Corp lowered its position in shares of Crescent Energy Company (NYSE:CRGY) by 6.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,671,388 shares of the company’s stock after selling 120,089 shares during the quarter. Northern Trust Corp owned 0.65% of Crescent Energy worth $18,786,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. American Century Companies Inc. lifted its position in shares of Crescent Energy by 10.0% during the 1st quarter. American Century Companies Inc. now owns 13,967,599 shares of the company’s stock worth $156,996,000 after buying an additional 1,266,674 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Crescent Energy by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 9,435,708 shares of the company’s stock worth $106,057,000 after purchasing an additional 173,832 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Crescent Energy by 3.3% during the 1st quarter. Jennison Associates LLC now owns 4,944,038 shares of the company’s stock worth $55,571,000 after purchasing an additional 158,712 shares during the last quarter. Woodline Partners LP increased its stake in shares of Crescent Energy by 21.9% during the 4th quarter. Woodline Partners LP now owns 4,767,362 shares of the company’s stock worth $69,651,000 after purchasing an additional 856,963 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its stake in shares of Crescent Energy by 10.2% during the 4th quarter. Nuveen Asset Management LLC now owns 2,475,294 shares of the company’s stock worth $36,164,000 after purchasing an additional 229,928 shares during the last quarter. Institutional investors own 52.11% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Mizuho decreased their price target on shares of Crescent Energy from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Wells Fargo & Company decreased their price target on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, June 16th. Wall Street Zen upgraded shares of Crescent Energy from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Zacks Research lowered shares of Crescent Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. Finally, Piper Sandler raised their price target on shares of Crescent Energy from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $16.00.

Crescent Energy Stock Down 0.9%

Crescent Energy stock opened at $9.53 on Tuesday. Crescent Energy Company has a 1-year low of $6.83 and a 1-year high of $16.94. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of -52.92 and a beta of 1.98. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.75. The firm has a 50 day simple moving average of $9.13 and a 200 day simple moving average of $9.60.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Monday, August 4th. The company reported $0.43 earnings per share 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 business had revenue of $897.98 million during the quarter, compared to analyst estimates of $868.34 million. On average, analysts predict that Crescent Energy Company will post 0.77 earnings per share for the current year.

Crescent Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Monday, August 18th. Crescent Energy’s payout ratio is -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.