The Manufacturers Life Insurance Company Increases Stock Holdings in Crescent Energy (NYSE:CRGY)

The Manufacturers Life Insurance Company lifted its stake in shares of Crescent Energy (NYSE:CRGYFree Report) by 0.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,698,678 shares of the company’s stock after acquiring an additional 33,626 shares during the period. The Manufacturers Life Insurance Company’s holdings in Crescent Energy were worth $40,501,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Citigroup Inc. raised its holdings in shares of Crescent Energy by 335.1% during the 3rd quarter. Citigroup Inc. now owns 343,940 shares of the company’s stock valued at $3,766,000 after buying an additional 264,883 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Crescent Energy by 59.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,586,265 shares of the company’s stock worth $17,370,000 after purchasing an additional 589,665 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in Crescent Energy during the 3rd quarter worth approximately $155,000. Intech Investment Management LLC purchased a new stake in Crescent Energy during the 3rd quarter worth approximately $350,000. Finally, Jennison Associates LLC increased its holdings in Crescent Energy by 123.9% during the 3rd quarter. Jennison Associates LLC now owns 1,430,964 shares of the company’s stock worth $15,669,000 after purchasing an additional 791,794 shares during the last quarter. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

Crescent Energy Trading Up 1.8 %

NYSE:CRGY opened at $14.81 on Friday. Crescent Energy has a 12-month low of $9.88 and a 12-month high of $15.54. The firm has a market capitalization of $3.38 billion, a P/E ratio of 23.89 and a beta of 2.19. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. The business has a 50 day simple moving average of $12.90 and a 200 day simple moving average of $12.14.

Crescent Energy (NYSE:CRGYGet Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.11. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. The business had revenue of $744.87 million during the quarter, compared to analyst estimates of $793.88 million. During the same quarter in the previous year, the firm posted $0.35 EPS. Equities research analysts predict that Crescent Energy will post 0.97 EPS for the current year.

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $0.48 dividend on an annualized basis and a yield of 3.24%. Crescent Energy’s dividend payout ratio is currently 77.42%.

Wall Street Analyst Weigh In

CRGY has been the topic of several analyst reports. Truist Financial dropped their price objective on Crescent Energy from $19.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Raymond James lifted their price objective on Crescent Energy from $19.00 to $20.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 21st. Evercore ISI restated an “outperform” rating and set a $17.00 price objective on shares of Crescent Energy in a report on Tuesday, September 24th. Wells Fargo & Company dropped their price objective on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Finally, Stephens lifted their target price on Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $16.30.

Get Our Latest Research Report on Crescent Energy

Crescent Energy Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Crescent Energy (NYSE:CRGY)

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