Crescent Energy (NYSE:CRGY) Position Raised by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its stake in Crescent Energy (NYSE:CRGY) by 25.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,984,820 shares of the company’s stock after purchasing an additional 398,555 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Crescent Energy were worth $28,998,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. State Street Corp lifted its holdings in Crescent Energy by 78.6% in the third quarter. State Street Corp now owns 6,783,997 shares of the company’s stock worth $74,285,000 after purchasing an additional 2,986,468 shares during the period. Geode Capital Management LLC raised its position in Crescent Energy by 53.2% in the third quarter. Geode Capital Management LLC now owns 3,354,700 shares of the company’s stock worth $36,741,000 after acquiring an additional 1,164,306 shares in the last quarter. Amalgamated Bank raised its position in Crescent Energy by 919.0% in the fourth quarter. Amalgamated Bank now owns 49,961 shares of the company’s stock worth $730,000 after acquiring an additional 45,058 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in Crescent Energy in the fourth quarter worth about $1,233,000. Finally, Principal Financial Group Inc. raised its position in Crescent Energy by 7,793.7% in the fourth quarter. Principal Financial Group Inc. now owns 847,549 shares of the company’s stock worth $12,383,000 after acquiring an additional 836,812 shares in the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Stephens reiterated an “overweight” rating and issued a $17.00 price target on shares of Crescent Energy in a research report on Monday, March 3rd. Truist Financial boosted their price target on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. cut their price objective on Crescent Energy from $18.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Raymond James boosted their price objective on Crescent Energy from $22.00 to $23.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Finally, Mizuho boosted their price objective on Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.45.

Crescent Energy Trading Up 1.3 %

NYSE:CRGY opened at $11.06 on Tuesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $16.94. The stock’s 50-day moving average is $14.29 and its two-hundred day moving average is $13.48. The stock has a market cap of $2.86 billion, a PE ratio of 17.83 and a beta of 2.18.

Crescent Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.48 annualized dividend and a yield of 4.34%. Crescent Energy’s dividend payout ratio (DPR) is presently -69.57%.

Insider Buying and Selling at Crescent Energy

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $9.91, for a total transaction of $29,221,844.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Duginski bought 20,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were bought at an average cost of $10.57 per share, with a total value of $211,400.00. Following the transaction, the director now directly owns 259,607 shares of the company’s stock, valued at approximately $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. Company insiders own 13.20% of the company’s stock.

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.