Crescent Energy Company $CRGY Shares Sold by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC lessened its holdings in Crescent Energy Company (NYSE:CRGY) by 9.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 839,833 shares of the company’s stock after selling 91,000 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned approximately 0.33% of Crescent Energy worth $7,491,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Caitlin John LLC purchased a new stake in Crescent Energy in the 3rd quarter valued at about $27,000. Nisa Investment Advisors LLC boosted its stake in Crescent Energy by 50.2% during the third quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company’s stock worth $33,000 after buying an additional 1,241 shares during the period. Osaic Holdings Inc. boosted its stake in Crescent Energy by 25.2% during the second quarter. Osaic Holdings Inc. now owns 5,301 shares of the company’s stock worth $46,000 after buying an additional 1,066 shares during the period. Hantz Financial Services Inc. increased its position in shares of Crescent Energy by 135.8% during the third quarter. Hantz Financial Services Inc. now owns 6,018 shares of the company’s stock valued at $54,000 after acquiring an additional 3,466 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of Crescent Energy by 1,227.9% in the 2nd quarter. NewEdge Advisors LLC now owns 11,951 shares of the company’s stock valued at $103,000 after acquiring an additional 11,051 shares during the period. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CRGY. Evercore assumed coverage on shares of Crescent Energy in a research report on Tuesday, December 16th. They set an “outperform” rating and a $13.00 price objective for the company. Wells Fargo & Company cut their target price on Crescent Energy from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 27th. Zacks Research upgraded Crescent Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 20th. Weiss Ratings upgraded Crescent Energy from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, February 27th. Finally, Piper Sandler lifted their price objective on Crescent Energy from $13.00 to $14.00 and gave the company an “overweight” rating in a research note on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.67.

Crescent Energy Stock Up 1.9%

Shares of CRGY opened at $11.99 on Tuesday. The company’s 50-day simple moving average is $9.61 and its 200-day simple moving average is $9.14. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.48 and a current ratio of 1.48. Crescent Energy Company has a 1 year low of $6.83 and a 1 year high of $12.40. The stock has a market capitalization of $3.93 billion, a PE ratio of 23.05 and a beta of 1.57.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.19. The firm had revenue of $865.05 million during 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%. Analysts forecast that Crescent Energy Company will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

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

Crescent Energy 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.