Crescent Energy (NYSE:CRGY) Shares Acquired by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in Crescent Energy (NYSE:CRGY) by 64.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 490,233 shares of the company’s stock after purchasing an additional 192,700 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned about 0.21% of Crescent Energy worth $7,162,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its stake in Crescent Energy by 59.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,586,265 shares of the company’s stock worth $17,370,000 after purchasing an additional 589,665 shares in the last quarter. FMR LLC raised its holdings in shares of Crescent Energy by 191.1% in the third quarter. FMR LLC now owns 657,337 shares of the company’s stock worth $7,198,000 after buying an additional 431,497 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Crescent Energy by 94.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,550 shares of the company’s stock worth $532,000 after buying an additional 23,556 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Crescent Energy by 18.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 172,313 shares of the company’s stock valued at $1,887,000 after buying an additional 27,279 shares during the last quarter. Finally, State Street Corp increased its position in shares of Crescent Energy by 78.6% in the 3rd quarter. State Street Corp now owns 6,783,997 shares of the company’s stock valued at $74,285,000 after acquiring an additional 2,986,468 shares during the period. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $9.91, for a total value of $29,221,844.93. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michael Duginski acquired 20,000 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were purchased at an average price of $10.57 per share, with a total value of $211,400.00. Following the completion of the purchase, the director now owns 259,607 shares in the company, valued at $2,744,045.99. This represents a 8.35 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 24,932 shares of company stock worth $263,219 in the last quarter. Corporate insiders own 13.20% of the company’s stock.

Crescent Energy Price Performance

Shares of Crescent Energy stock opened at $7.81 on Monday. The firm has a market cap of $2.02 billion, a PE ratio of 12.59 and a beta of 1.88. The business has a 50-day moving average price of $12.81 and a 200 day moving average price of $13.49. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. Crescent Energy has a twelve month low of $3.82 and a twelve month high of $16.94.

Crescent Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 6.15%. The ex-dividend date was Wednesday, March 12th. Crescent Energy’s payout ratio is -69.57%.

Analysts Set New Price Targets

Several research firms have weighed in on CRGY. Raymond James reiterated a “strong-buy” rating and set a $18.00 price target (down previously from $23.00) on shares of Crescent Energy in a research note on Friday, March 28th. JPMorgan Chase & Co. cut their price target on shares of Crescent Energy from $18.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Stephens reissued an “overweight” rating and set a $17.00 price target on shares of Crescent Energy in a research report on Monday, March 3rd. Citigroup lowered shares of Crescent Energy to a “reduce” rating in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company decreased their target price on shares of Crescent Energy from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Crescent Energy presently has a consensus rating of “Moderate Buy” and an average target price of $17.09.

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.