Mitsubishi UFJ Trust & Banking Corp Acquires Shares of 115,907 Crescent Energy Company $CRGY

Mitsubishi UFJ Trust & Banking Corp acquired a new position in Crescent Energy Company (NYSE:CRGY) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 115,907 shares of the company’s stock, valued at approximately $1,034,000.

A number of other large investors have also recently modified their holdings of CRGY. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Crescent Energy during the third quarter valued at about $548,000. Olympiad Research LP bought a new stake in Crescent Energy during the 3rd quarter valued at approximately $111,000. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of Crescent Energy by 187.3% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 113,649 shares of the company’s stock worth $1,014,000 after acquiring an additional 74,098 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Crescent Energy by 9.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 27,512 shares of the company’s stock worth $251,000 after acquiring an additional 2,436 shares during the period. Finally, Amalgamated Bank raised its position in shares of Crescent Energy by 3.5% in the 3rd quarter. Amalgamated Bank now owns 53,433 shares of the company’s stock worth $477,000 after acquiring an additional 1,811 shares in the last quarter. Institutional investors own 52.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CRGY shares. Piper Sandler dropped their price target on Crescent Energy from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 18th. Evercore ISI began coverage on shares of Crescent Energy in a report on Tuesday, December 16th. They set an “outperform” rating and a $13.00 target price on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Crescent Energy in a report on Wednesday, October 8th. Wells Fargo & Company decreased their price target on shares of Crescent Energy from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Mizuho lifted their price target on shares of Crescent Energy from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Crescent Energy currently has an average rating of “Hold” and a consensus price target of $13.27.

Crescent Energy Stock Performance

Shares of CRGY stock opened at $9.76 on Friday. Crescent Energy Company has a one year low of $6.83 and a one year high of $15.58. The company’s 50-day moving average is $8.79 and its 200 day moving average is $8.87. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of -65.07 and a beta of 1.73. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.81 and a current ratio of 0.81.

Crescent Energy (NYSE:CRGY) last issued its earnings results on Monday, November 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. Crescent Energy had a net margin of 0.66% and a return on equity of 11.77%. The business had revenue of $866.58 million during the quarter, compared to analysts’ expectations of $887.54 million. Sell-side analysts expect that Crescent Energy Company will post 0.77 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were given a $0.12 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $0.48 annualized dividend and a yield of 4.9%. Crescent Energy’s dividend payout ratio is -320.00%.

About Crescent Energy

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.