Vanguard Group Inc. Has $303.15 Million Stock Position in Crescent Energy (NYSE:CRGY)

Vanguard Group Inc. grew its position in shares of Crescent Energy (NYSE:CRGY - Free Report) by 26.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 20,749,509 shares of the company's stock after purchasing an additional 4,332,831 shares during the quarter. Vanguard Group Inc. owned 9.09% of Crescent Energy worth $303,150,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake in Crescent Energy by 59.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,586,265 shares of the company's stock valued at $17,370,000 after purchasing an additional 589,665 shares during the last quarter. FMR LLC lifted its position in shares of Crescent Energy by 191.1% during the 3rd quarter. FMR LLC now owns 657,337 shares of the company's stock valued at $7,198,000 after acquiring an additional 431,497 shares during the last quarter. MetLife Investment Management LLC boosted its stake in shares of Crescent Energy by 43.0% during the 3rd quarter. MetLife Investment Management LLC now owns 79,786 shares of the company's stock worth $874,000 after acquiring an additional 23,990 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Crescent Energy by 94.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,550 shares of the company's stock worth $532,000 after acquiring an additional 23,556 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Crescent Energy by 18.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 172,313 shares of the company's stock worth $1,887,000 after purchasing an additional 27,279 shares during the period. Institutional investors own 52.11% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CRGY. Truist Financial lifted their price target on Crescent Energy from $18.00 to $21.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Williams Trading set a $16.00 target price on shares of Crescent Energy in a research note on Wednesday, March 5th. Citigroup cut Crescent Energy to a "reduce" rating in a research report on Wednesday, March 5th. Stephens reiterated an "overweight" rating and set a $17.00 price target on shares of Crescent Energy in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. reduced their price objective on Crescent Energy from $18.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $17.09.

Crescent Energy Stock Up 17.3 %

Shares of CRGY stock traded up $1.26 on Wednesday, hitting $8.55. The company's stock had a trading volume of 9,595,502 shares, compared to its average volume of 3,136,895. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 13.79 and a beta of 1.88. Crescent Energy has a fifty-two week low of $6.84 and a fifty-two week high of $16.94. The firm's fifty day moving average price is $12.05 and its 200-day moving average price is $13.34.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.61%. The ex-dividend date was Wednesday, March 12th. Crescent Energy's dividend payout ratio is -69.57%.

Insider Activity at Crescent Energy

In other news, Director Michael Duginski purchased 4,000 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was bought at an average cost of $10.38 per share, for a total transaction of $41,520.00. Following the completion of the acquisition, the director now directly owns 233,607 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of Crescent Energy stock in a transaction dated 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. In the last ninety days, insiders have purchased 24,932 shares of company stock valued at $263,219. Corporate 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.