Fmr LLC Boosts Holdings in Crescent Energy (NYSE:CRGY)

FMR LLC lifted its stake in Crescent Energy (NYSE:CRGY - Free Report) by 191.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 657,337 shares of the company's stock after buying an additional 431,497 shares during the period. FMR LLC owned approximately 0.37% of Crescent Energy worth $7,198,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. American Century Companies Inc. lifted its stake in Crescent Energy by 444.8% in the second quarter. American Century Companies Inc. now owns 7,775,940 shares of the company's stock valued at $92,145,000 after buying an additional 6,348,598 shares during the last quarter. Marshall Wace LLP raised its position in Crescent Energy by 286.7% in the 2nd quarter. Marshall Wace LLP now owns 2,830,118 shares of the company's stock valued at $33,537,000 after purchasing an additional 2,098,303 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Crescent Energy by 85.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,656,222 shares of the company's stock worth $31,477,000 after purchasing an additional 1,226,027 shares during the period. Royce & Associates LP purchased a new position in Crescent Energy during the 3rd quarter worth $11,146,000. Finally, Segall Bryant & Hamill LLC grew its position in Crescent Energy by 48.4% during the 3rd 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. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Crescent Energy Price Performance

Crescent Energy stock traded down $0.16 during midday trading on Friday, reaching $14.60. The company's stock had a trading volume of 1,982,947 shares, compared to its average volume of 2,469,637. The firm has a market capitalization of $3.33 billion, a PE ratio of 23.81 and a beta of 2.17. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $15.54. The stock's 50 day simple moving average is $13.60 and its 200 day simple moving average is $12.32. 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 announced its quarterly earnings data on Monday, November 4th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.28 by $0.11. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. The firm had revenue of $744.87 million during the quarter, compared to analysts' expectations of $793.88 million. During the same quarter last year, the business earned $0.35 earnings per share. On average, equities research analysts forecast that Crescent Energy will post 0.98 earnings per share for the current year.

Crescent Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.29%. The ex-dividend date was Monday, November 18th. Crescent Energy's dividend payout ratio (DPR) is 77.42%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CRGY. Raymond James increased their target price on shares of Crescent Energy from $19.00 to $20.00 and gave the stock a "strong-buy" rating in a research note on Thursday, November 21st. Evercore ISI reaffirmed an "outperform" rating and set a $17.00 price objective on shares of Crescent Energy in a research note on Tuesday, September 24th. JPMorgan Chase & Co. initiated coverage on Crescent Energy in a research note on Wednesday, September 18th. They issued a "neutral" rating and a $12.00 target price on the stock. Truist Financial upped 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, December 5th. Finally, Wells Fargo & Company lowered their price objective on shares of Crescent Energy from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Monday, October 21st. Two equities research 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 company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $16.60.

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.