State Street Corp Purchases 2,986,468 Shares of Crescent Energy (NYSE:CRGY)

State Street Corp grew its position in shares of Crescent Energy (NYSE:CRGY) by 78.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,783,997 shares of the company’s stock after acquiring an additional 2,986,468 shares during the quarter. State Street Corp owned 3.82% of Crescent Energy worth $74,285,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. American Century Companies Inc. grew its position 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 purchasing an additional 6,348,598 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Crescent Energy by 0.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,698,678 shares of the company’s stock valued at $40,501,000 after acquiring an additional 33,626 shares in the last quarter. Segall Bryant & Hamill LLC grew its holdings in shares of Crescent Energy by 48.4% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 3,072,410 shares of the company’s stock valued at $33,643,000 after acquiring an additional 1,001,552 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of Crescent Energy by 77.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 3,029,818 shares of the company’s stock valued at $33,177,000 after acquiring an additional 1,324,328 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in Crescent Energy by 286.7% during the second quarter. Marshall Wace LLP now owns 2,830,118 shares of the company’s stock worth $33,537,000 after acquiring an additional 2,098,303 shares in the last quarter. 52.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CRGY has been the topic of several recent analyst reports. Evercore ISI reaffirmed an “outperform” rating and set a $17.00 price target on shares of Crescent Energy in a research report on Tuesday, September 24th. Truist Financial boosted their target price on shares of Crescent Energy from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Mizuho increased their price target on shares of Crescent Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday. Raymond James boosted their price objective 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. Finally, Pickering Energy Partners assumed coverage on shares of Crescent Energy in a research note on Monday, October 28th. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $16.80.

Crescent Energy Stock Down 1.7 %

Shares of CRGY opened at $13.97 on Wednesday. The firm has a market cap of $3.19 billion, a P/E ratio of 22.52 and a beta of 2.17. 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 has a 52 week low of $9.88 and a 52 week high of $15.54. The firm’s 50-day simple moving average is $13.67 and its 200 day simple moving average is $12.36.

Crescent Energy (NYSE:CRGY) last posted its earnings results on Monday, November 4th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.28 by $0.11. The company had revenue of $744.87 million for the quarter, compared to the consensus estimate of $793.88 million. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. During the same quarter in the prior year, the business earned $0.35 earnings per share. On average, analysts forecast that Crescent Energy will post 0.98 earnings per share for the current year.

Crescent Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.44%. The ex-dividend date was Monday, November 18th. Crescent Energy’s payout ratio is 77.42%.

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.