Vanguard Group Inc. Sells 455,335 Shares of Crescent Energy Company $CRGY

Vanguard Group Inc. lessened its position in Crescent Energy Company (NYSE:CRGY) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,276,099 shares of the company’s stock after selling 455,335 shares during the quarter. Vanguard Group Inc. owned approximately 7.96% of Crescent Energy worth $180,863,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of CRGY. American Century Companies Inc. boosted its position in Crescent Energy by 28.4% during the second quarter. American Century Companies Inc. now owns 17,928,597 shares of the company’s stock valued at $154,186,000 after purchasing an additional 3,960,998 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Crescent Energy by 4.8% in the 2nd quarter. Geode Capital Management LLC now owns 4,270,974 shares of the company’s stock valued at $36,738,000 after purchasing an additional 195,385 shares during the period. Goldman Sachs Group Inc. lifted its stake in Crescent Energy by 42.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,969,411 shares of the company’s stock valued at $44,616,000 after purchasing an additional 1,174,576 shares during the last quarter. Bridgeway Capital Management LLC grew its holdings in Crescent Energy by 0.3% during the second quarter. Bridgeway Capital Management LLC now owns 1,713,304 shares of the company’s stock worth $14,734,000 after purchasing an additional 4,750 shares during the period. Finally, Kore Advisors LP increased its position in Crescent Energy by 17.0% during the second quarter. Kore Advisors LP now owns 1,479,256 shares of the company’s stock worth $12,722,000 after buying an additional 214,939 shares during the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.

Crescent Energy Stock Performance

Shares of NYSE CRGY opened at $12.01 on Tuesday. The stock’s 50-day moving average is $9.28 and its 200 day moving average is $9.05. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 23.10 and a beta of 1.73. Crescent Energy Company has a 1-year low of $6.83 and a 1-year high of $12.71. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.07.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.19. The business had revenue of $865.05 million for the quarter, compared to analysts’ expectations of $884.64 million. Crescent Energy had a net margin of 3.71% and a return on equity of 8.36%. On average, sell-side analysts anticipate that Crescent Energy Company will post 0.77 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Wednesday, March 11th. Crescent Energy’s payout ratio is 92.31%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Weiss Ratings raised shares of Crescent Energy from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday. Jefferies Financial Group reiterated a “hold” rating and issued a $9.00 price target on shares of Crescent Energy in a research note on Sunday, January 25th. Wells Fargo & Company reduced their price objective on Crescent Energy from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, January 27th. Wall Street Zen cut Crescent Energy from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Evercore initiated coverage on Crescent Energy in a research report on Tuesday, December 16th. They set an “outperform” rating and a $13.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $12.90.

Crescent Energy Company Profile

Crescent Energy Co (NYSE: CRGY) is an independent exploration and production company focused on the acquisition, development and production of oil and natural gas resources in North America. Headquartered in Oklahoma City, the company’s core business activities include the identification and appraisal of prospective acreage, the design and execution of drilling and completion programs, and the ongoing operation and optimization of producing wells. Crescent Energy’s integrated approach emphasizes capital efficiency, reservoir quality and operational reliability to support sustainable cash flow generation over the commodity cycle.

Crescent Energy’s operations are concentrated in the Permian Basin, with a particular focus on the Delaware Basin’s stacked pay intervals.