Charles Schwab Investment Management Inc. Has $17.37 Million Stake in Crescent Energy (NYSE:CRGY)

Charles Schwab Investment Management Inc. raised its position in shares of Crescent Energy (NYSE:CRGY - Free Report) by 59.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,586,265 shares of the company's stock after acquiring an additional 589,665 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.89% of Crescent Energy worth $17,370,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRGY. Jackson Creek Investment Advisors LLC grew its stake in shares of Crescent Energy by 1.0% in the second quarter. Jackson Creek Investment Advisors LLC now owns 90,933 shares of the company's stock valued at $1,078,000 after buying an additional 883 shares in the last quarter. CWM LLC boosted its stake in shares of Crescent Energy by 618.9% in the second quarter. CWM LLC now owns 2,128 shares of the company's stock valued at $25,000 after purchasing an additional 1,832 shares during the period. Amalgamated Bank grew its holdings in Crescent Energy by 86.4% during the 3rd quarter. Amalgamated Bank now owns 4,903 shares of the company's stock valued at $54,000 after purchasing an additional 2,272 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Crescent Energy during the 2nd quarter worth $32,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Crescent Energy by 7.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 37,999 shares of the company's stock worth $453,000 after buying an additional 2,692 shares in the last quarter. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CRGY has been the topic of several recent analyst reports. Truist Financial boosted their price target on Crescent Energy from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday. JPMorgan Chase & Co. started coverage on shares of Crescent Energy in a research report on Wednesday, September 18th. They set a "neutral" rating and a $12.00 price target for the company. Stephens upped their price target on shares of Crescent Energy from $15.00 to $16.00 and gave the company an "overweight" rating in a report on Monday, October 28th. Pickering Energy Partners began coverage on Crescent Energy in a research note on Monday, October 28th. They set an "outperform" rating on the stock. Finally, Mizuho increased their target price on Crescent Energy from $13.00 to $14.00 and gave the stock a "neutral" rating in a report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $16.60.

Crescent Energy Stock Performance

Shares of CRGY traded down $0.22 during mid-day trading on Friday, reaching $14.20. 7,208,301 shares of the company's stock traded hands, compared to its average volume of 2,720,420. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $15.54. The stock has a market capitalization of $3.24 billion, a P/E ratio of 22.90 and a beta of 2.17. The business's 50-day moving average price is $13.37 and its 200-day moving average price is $12.26. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93.

Crescent Energy (NYSE:CRGY - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.11. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. The company had revenue of $744.87 million during the quarter, compared to analysts' expectations of $793.88 million. During the same quarter in the prior year, the business posted $0.35 earnings per share. Equities analysts predict that Crescent Energy will post 0.97 earnings per share for the current year.

Crescent Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Monday, November 18th. Crescent Energy's dividend payout ratio is currently 77.42%.

Crescent Energy Company 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.