Crescent Energy (NYSE:CRGY) Position Cut by Marshall Wace LLP

Marshall Wace LLP decreased its position in shares of Crescent Energy (NYSE:CRGY - Free Report) by 82.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 622,315 shares of the company's stock after selling 2,854,393 shares during the quarter. Marshall Wace LLP owned about 0.27% of Crescent Energy worth $9,092,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Pacer Advisors Inc. bought a new position in Crescent Energy in the 4th quarter worth about $170,905,000. Vanguard Group Inc. grew its holdings in Crescent Energy by 26.4% in the 4th quarter. Vanguard Group Inc. now owns 20,749,509 shares of the company's stock worth $303,150,000 after buying an additional 4,332,831 shares in the last quarter. Jennison Associates LLC grew its holdings in Crescent Energy by 234.4% in the 4th quarter. Jennison Associates LLC now owns 4,785,326 shares of the company's stock worth $69,914,000 after buying an additional 3,354,362 shares in the last quarter. Bank of New York Mellon Corp increased its position in Crescent Energy by 55.5% in the 4th quarter. Bank of New York Mellon Corp now owns 9,261,876 shares of the company's stock valued at $135,316,000 after acquiring an additional 3,305,833 shares during the period. Finally, American Century Companies Inc. raised its stake in Crescent Energy by 12.7% during the 4th quarter. American Century Companies Inc. now owns 12,700,925 shares of the company's stock valued at $185,561,000 after acquiring an additional 1,436,084 shares in the last quarter. Institutional investors and hedge funds own 52.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CRGY shares. Raymond James reissued a "strong-buy" rating and set a $18.00 price target (down from $23.00) on shares of Crescent Energy in a report on Friday, March 28th. Wells Fargo & Company reduced their price target on shares of Crescent Energy from $21.00 to $20.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. JPMorgan Chase & Co. lowered their price objective on shares of Crescent Energy from $18.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Truist Financial upped their target price on Crescent Energy from $18.00 to $21.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Finally, Siebert Williams Shank initiated coverage on Crescent Energy in a research report on Monday, February 3rd. They set a "buy" rating on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $16.80.

Insider Buying and Selling at Crescent Energy

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of Crescent Energy stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $9.91, for a total transaction of $29,221,844.93. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael Duginski bought 20,000 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $10.57 per share, with a total value of $211,400.00. Following the transaction, the director now owns 259,607 shares of the company's stock, valued at $2,744,045.99. This trade represents a 8.35 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 24,932 shares of company stock valued at $263,219. 13.20% of the stock is currently owned by corporate insiders.

Crescent Energy Stock Performance

Shares of NYSE CRGY opened at $8.28 on Wednesday. Crescent Energy has a 52-week low of $6.83 and a 52-week high of $16.94. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 13.35 and a beta of 1.88. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. The stock's fifty day simple moving average is $10.82 and its 200 day simple moving average is $13.11.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 annualized dividend and a yield of 5.80%. Crescent Energy's payout ratio is presently -69.57%.

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.

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