Legal & General Group Plc Grows Stock Holdings in Crescent Energy Company $CRGY

Legal & General Group Plc grew its holdings in Crescent Energy Company (NYSE:CRGY) by 27.5% during the fourth quarter, HoldingsChannel reports. The firm owned 585,827 shares of the company’s stock after acquiring an additional 126,330 shares during the period. Legal & General Group Plc’s holdings in Crescent Energy were worth $4,915,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of CRGY. Royal Bank of Canada lifted its stake in Crescent Energy by 16.1% in the 1st quarter. Royal Bank of Canada now owns 58,900 shares of the company’s stock worth $662,000 after purchasing an additional 8,173 shares in the last quarter. AQR Capital Management LLC lifted its stake in Crescent Energy by 8.9% in the 1st quarter. AQR Capital Management LLC now owns 17,104 shares of the company’s stock worth $192,000 after purchasing an additional 1,397 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Crescent Energy by 6.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,670 shares of the company’s stock worth $1,109,000 after purchasing an additional 6,184 shares in the last quarter. 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 worth $44,616,000 after purchasing an additional 1,174,576 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Crescent Energy by 32.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 244,456 shares of the company’s stock worth $2,748,000 after purchasing an additional 59,199 shares in the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CRGY has been the topic of a number of research reports. Weiss Ratings lowered shares of Crescent Energy from a “hold (c)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Stephens reissued an “overweight” rating and issued a $18.00 target price on shares of Crescent Energy in a research note on Tuesday, May 5th. Piper Sandler raised their target price on shares of Crescent Energy from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. William Blair reissued an “outperform” rating on shares of Crescent Energy in a research note on Friday, March 6th. Finally, KeyCorp raised their price target on shares of Crescent Energy from $15.00 to $19.00 and gave the stock an “overweight” rating in a report on Thursday, April 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Crescent Energy has an average rating of “Moderate Buy” and an average price target of $16.00.

Crescent Energy Stock Down 0.0%

Shares of NYSE CRGY opened at $11.54 on Monday. The company has a 50 day simple moving average of $12.79 and a 200-day simple moving average of $10.83. The company has a market capitalization of $3.81 billion, a P/E ratio of -15.38 and a beta of 1.37. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.57 and a quick ratio of 0.57. Crescent Energy Company has a 1 year low of $7.68 and a 1 year high of $14.29.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.14. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. Crescent Energy had a negative net margin of 7.47% and a positive return on equity of 8.10%. The business’s revenue was up 24.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.57 EPS. On average, equities research analysts predict that Crescent Energy Company will post 1.99 earnings per share for the current year.

Crescent Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were issued a dividend of $0.12 per share. The ex-dividend date was Monday, May 18th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.2%. Crescent Energy’s dividend payout ratio (DPR) is currently -64.00%.

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.