Charles Schwab Investment Management Inc. Has $29 Million Holdings in Crescent Energy (NYSE:CRGY)

Charles Schwab Investment Management Inc. boosted its position in shares of Crescent Energy (NYSE:CRGY - Free Report) by 25.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,984,820 shares of the company's stock after acquiring an additional 398,555 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.87% of Crescent Energy worth $28,998,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of CRGY. Amalgamated Bank lifted its position in Crescent Energy by 86.4% during the third quarter. Amalgamated Bank now owns 4,903 shares of the company's stock worth $54,000 after acquiring an additional 2,272 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Crescent Energy by 7.0% in the 3rd quarter. Victory Capital Management Inc. now owns 708,205 shares of the company's stock valued at $7,755,000 after purchasing an additional 46,448 shares during the period. Quest Partners LLC acquired a new position in Crescent Energy in the 3rd quarter valued at $189,000. Meeder Asset Management Inc. acquired a new stake in shares of Crescent Energy during the third quarter worth $161,000. Finally, Phocas Financial Corp. acquired a new stake in shares of Crescent Energy during the third quarter worth $3,400,000. 52.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CRGY has been the topic of a number of recent research reports. Citigroup lowered Crescent Energy to a "reduce" rating in a research note on Wednesday, March 5th. Siebert Williams Shank began coverage on shares of Crescent Energy in a research note on Monday, February 3rd. They set a "buy" rating on the stock. Mizuho raised their target price 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. Truist Financial upped their price target on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Crescent Energy from $18.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $17.45.

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Crescent Energy Trading Down 1.8 %

CRGY traded down $0.22 during trading on Friday, reaching $11.44. 4,345,778 shares of the company's stock were exchanged, compared to its average volume of 2,918,478. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. Crescent Energy has a one year low of $9.88 and a one year high of $16.94. The firm has a fifty day moving average price of $14.04 and a two-hundred day moving average price of $13.45. The stock has a market capitalization of $2.96 billion, a PE ratio of 18.44 and a beta of 2.18.

Crescent Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.48 annualized dividend and a dividend yield of 4.20%. Crescent Energy's dividend payout ratio is -69.57%.

Insider Activity at Crescent Energy

In related news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of Crescent Energy stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Duginski acquired 20,000 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $10.57 per share, for a total transaction of $211,400.00. Following the completion of the purchase, the director now directly owns 259,607 shares in the company, 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. Insiders purchased 24,932 shares of company stock worth $263,219 over the last three months. Company insiders own 13.20% of the company's stock.

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.