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

Grantham Mayo Van Otterloo & Co. LLC decreased its stake in shares of Crescent Energy Company (NYSE:CRGY) by 9.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 839,833 shares of the company’s stock after selling 91,000 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Crescent Energy were worth $7,491,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. American Century Companies Inc. grew its position in shares of Crescent Energy by 8.0% during the third quarter. American Century Companies Inc. now owns 19,363,386 shares of the company’s stock worth $172,721,000 after buying an additional 1,434,789 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Crescent Energy by 13.2% during the third quarter. Dimensional Fund Advisors LP now owns 10,658,863 shares of the company’s stock worth $95,080,000 after buying an additional 1,243,702 shares during the period. Geode Capital Management LLC raised its holdings in Crescent Energy by 4.8% in the second quarter. Geode Capital Management LLC now owns 4,270,974 shares of the company’s stock valued at $36,738,000 after acquiring an additional 195,385 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Crescent Energy by 42.0% in the first quarter. Goldman Sachs Group Inc. now owns 3,969,411 shares of the company’s stock worth $44,616,000 after acquiring an additional 1,174,576 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its stake in Crescent Energy by 0.3% in the second quarter. Bridgeway Capital Management LLC now owns 1,713,304 shares of the company’s stock worth $14,734,000 after acquiring an additional 4,750 shares during the last quarter. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Crescent Energy Trading Up 1.9%

NYSE:CRGY opened at $11.99 on Tuesday. The company has a market capitalization of $3.93 billion, a PE ratio of 23.05 and a beta of 1.57. Crescent Energy Company has a 52-week low of $6.83 and a 52-week high of $12.40. The stock’s 50 day moving average price is $9.61 and its 200 day moving average price is $9.14. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.07.

Crescent Energy (NYSE:CRGY) last issued 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 company had revenue of $865.05 million during the quarter, compared to analysts’ expectations of $884.64 million. Crescent Energy had a return on equity of 8.36% and a net margin of 3.71%. On average, research analysts anticipate that Crescent Energy Company will post 0.77 EPS for the current year.

Crescent Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CRGY shares. Wells Fargo & Company dropped their price objective on shares of 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 raised shares of Crescent Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 20th. Jefferies Financial Group reiterated a “hold” rating and set a $9.00 target price on shares of Crescent Energy in a research note on Sunday, January 25th. William Blair reissued an “outperform” rating on shares of Crescent Energy in a report on Friday. Finally, Mizuho raised their price target on Crescent Energy from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.67.

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.