Wellington Management Group LLP Makes New Investment in Crescent Energy (NYSE:CRGY)

Wellington Management Group LLP bought a new stake in shares of Crescent Energy (NYSE:CRGY - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,997,449 shares of the company's stock, valued at approximately $21,872,000. Wellington Management Group LLP owned about 1.13% of Crescent Energy as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. lifted its stake in shares of Crescent Energy by 444.8% during the 2nd quarter. American Century Companies Inc. now owns 7,775,940 shares of the company's stock worth $92,145,000 after acquiring an additional 6,348,598 shares during the last quarter. State Street Corp lifted its position in shares of Crescent Energy by 78.6% during the third quarter. State Street Corp now owns 6,783,997 shares of the company's stock worth $74,285,000 after purchasing an additional 2,986,468 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Crescent Energy by 0.9% during the third quarter. The Manufacturers Life Insurance Company now owns 3,698,678 shares of the company's stock valued at $40,501,000 after purchasing an additional 33,626 shares during the period. Segall Bryant & Hamill LLC grew its holdings in shares of Crescent Energy by 48.4% in the third quarter. Segall Bryant & Hamill LLC now owns 3,072,410 shares of the company's stock worth $33,643,000 after purchasing an additional 1,001,552 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in Crescent Energy by 77.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 3,029,818 shares of the company's stock worth $33,177,000 after buying an additional 1,324,328 shares during the period. Hedge funds and other institutional investors own 52.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CRGY shares. Raymond James boosted their price objective on shares of Crescent Energy from $19.00 to $20.00 and gave the company a "strong-buy" rating in a research report on Thursday, November 21st. Evercore ISI reiterated an "outperform" rating and issued a $17.00 price target on shares of Crescent Energy in a report on Tuesday, September 24th. Pickering Energy Partners assumed coverage on Crescent Energy in a report on Monday, October 28th. They set an "outperform" rating on the stock. JPMorgan Chase & Co. started coverage on Crescent Energy in a research report on Wednesday, September 18th. They set a "neutral" rating and a $12.00 target price for the company. Finally, Stephens increased their price target on Crescent Energy from $15.00 to $16.00 and gave the stock an "overweight" rating in a research report on Monday, October 28th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $16.60.

Crescent Energy Stock Down 1.1 %

CRGY stock traded down $0.16 during trading on Friday, reaching $14.60. 1,984,252 shares of the company traded hands, compared to its average volume of 2,472,427. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 23.55 and a beta of 2.17. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. The business has a 50 day simple moving average of $13.63 and a 200 day simple moving average of $12.34. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $15.54.

Crescent Energy (NYSE:CRGY - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.11. The firm had revenue of $744.87 million for the quarter, compared to the consensus estimate of $793.88 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. During the same quarter in the previous year, the firm earned $0.35 EPS. On average, equities research analysts anticipate that Crescent Energy will post 0.98 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were given a $0.12 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.29%. Crescent Energy's payout ratio is 77.42%.

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.