Crescent Energy (NYSE:CRGY) Shares Bought by Keybank National Association OH

Keybank National Association OH raised its holdings in shares of Crescent Energy (NYSE:CRGY) by 44.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,116 shares of the company’s stock after acquiring an additional 10,568 shares during the period. Keybank National Association OH’s holdings in Crescent Energy were worth $498,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CRGY. Pacer Advisors Inc. acquired a new stake in Crescent Energy during the 4th quarter valued at approximately $170,905,000. Jennison Associates LLC lifted its stake in Crescent Energy by 234.4% during the 4th quarter. Jennison Associates LLC now owns 4,785,326 shares of the company’s stock valued at $69,914,000 after acquiring an additional 3,354,362 shares during the period. Bank of New York Mellon Corp lifted its stake in Crescent Energy by 55.5% during the 4th quarter. Bank of New York Mellon Corp now owns 9,261,876 shares of the company’s stock valued at $135,316,000 after acquiring an additional 3,305,833 shares during the period. State Street Corp lifted its stake in Crescent Energy by 78.6% during the 3rd 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 during the period. Finally, Wellington Management Group LLP acquired a new stake in Crescent Energy during the 3rd quarter valued at approximately $21,872,000. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CRGY has been the subject of several research reports. Siebert Williams Shank initiated coverage on shares of Crescent Energy in a research note on Monday, February 3rd. They set a “buy” rating for the company. Raymond James lifted their target price on shares of Crescent Energy from $22.00 to $23.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Stephens reaffirmed an “overweight” rating and set a $17.00 target price on shares of Crescent Energy in a report on Monday, March 3rd. Truist Financial lifted their target price on shares of Crescent Energy from $18.00 to $21.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Mizuho lifted 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. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Crescent Energy has an average rating of “Buy” and an average target price of $17.60.

Crescent Energy Price Performance

Shares of NYSE CRGY opened at $10.67 on Monday. The firm has a market cap of $2.43 billion, a PE ratio of 17.20 and a beta of 2.18. The firm has a fifty day moving average of $14.79 and a 200 day moving average of $13.52. 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 one year low of $9.88 and a one year high of $16.94.

Crescent Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend is Wednesday, March 12th. Crescent Energy’s payout ratio is presently -69.57%.

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.