Grantham Mayo Van Otterloo & Co. LLC Grows Position in Crescent Energy (NYSE:CRGY)

Grantham Mayo Van Otterloo & Co. LLC grew its stake in Crescent Energy (NYSE:CRGY - Free Report) by 64.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 490,233 shares of the company's stock after purchasing an additional 192,700 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned approximately 0.21% of Crescent Energy worth $7,162,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CRGY. Vanguard Group Inc. boosted its stake in shares of Crescent Energy by 26.4% during the fourth quarter. Vanguard Group Inc. now owns 20,749,509 shares of the company's stock valued at $303,150,000 after purchasing an additional 4,332,831 shares during the period. American Century Companies Inc. boosted its position in Crescent Energy by 12.7% in the 4th quarter. American Century Companies Inc. now owns 12,700,925 shares of the company's stock valued at $185,561,000 after buying an additional 1,436,084 shares during the period. Pacer Advisors Inc. bought a new position in Crescent Energy in the 4th quarter worth about $170,905,000. Bank of New York Mellon Corp increased its position in shares of Crescent Energy by 55.5% during the fourth quarter. Bank of New York Mellon Corp now owns 9,261,876 shares of the company's stock worth $135,316,000 after acquiring an additional 3,305,833 shares during the period. Finally, State Street Corp raised its stake 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 valued at $74,285,000 after acquiring an additional 2,986,468 shares in the last quarter. Hedge funds and other institutional investors own 52.11% of the company's stock.

Insider Activity at Crescent Energy

In other news, Director Michael Duginski bought 4,000 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average cost of $10.38 per share, with a total value of $41,520.00. Following the transaction, the director now directly owns 233,607 shares in the company, valued at approximately $2,424,840.66. The trade was a 1.74 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $9.91, for a total value of $29,221,844.93. The disclosure for this sale can be found here. Insiders have acquired 24,932 shares of company stock valued at $263,219 in the last ninety days. Corporate insiders own 13.20% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on CRGY shares. Raymond James restated a "strong-buy" rating and set a $18.00 price objective (down from $23.00) on shares of Crescent Energy in a report on Friday, March 28th. Citigroup lowered shares of Crescent Energy to a "reduce" rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. cut their target price on shares of Crescent Energy from $18.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Mizuho boosted their price target on shares of Crescent Energy from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Tuesday, January 14th. Finally, Truist Financial increased their price objective on shares of Crescent Energy from $18.00 to $21.00 and gave the company a "buy" rating in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.00.

Crescent Energy Stock Up 0.9 %

NYSE CRGY traded up $0.06 on Friday, hitting $7.49. The stock had a trading volume of 1,567,079 shares, compared to its average volume of 3,143,226. The business's fifty day moving average price is $11.90 and its 200 day moving average price is $13.31. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 12.04 and a beta of 1.88. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. Crescent Energy has a 52-week low of $6.83 and a 52-week high of $16.94.

Crescent Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 6.41%. The ex-dividend date of this dividend was Wednesday, March 12th. Crescent Energy's dividend payout ratio is currently -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.