1,997,449 Shares in Crescent Energy (NYSE:CRGY) Acquired by Wellington Management Group LLP

Wellington Management Group LLP purchased a new position in shares of Crescent Energy (NYSE:CRGY) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,997,449 shares of the company’s stock, valued at approximately $21,872,000. Wellington Management Group LLP owned approximately 1.13% of Crescent Energy as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRGY. State Street Corp increased its holdings in Crescent Energy by 78.6% during the 3rd quarter. State Street Corp now owns 6,783,997 shares of the company’s stock worth $74,285,000 after purchasing an additional 2,986,468 shares during the last quarter. Systematic Financial Management LP purchased a new stake in Crescent Energy during the 3rd quarter worth approximately $795,000. Riposte Capital LLC purchased a new stake in Crescent Energy during the 3rd quarter worth approximately $18,232,000. Hotchkis & Wiley Capital Management LLC increased its holdings in Crescent Energy by 77.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 3,029,818 shares of the company’s stock worth $33,177,000 after purchasing an additional 1,324,328 shares during the last quarter. Finally, Kore Advisors LP purchased a new stake in Crescent Energy during the 3rd quarter worth approximately $14,652,000. 52.11% of the stock is owned by institutional investors and hedge funds.

Crescent Energy Trading Down 1.1 %

NYSE:CRGY opened at $14.60 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 $3.33 billion, a P/E ratio of 23.55 and a beta of 2.17. 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 $13.63 and a 200 day simple moving average of $12.34.

Crescent Energy (NYSE:CRGY) 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 0.98 EPS for the current year.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were given a dividend of $0.12 per share. The ex-dividend date was Monday, November 18th. This represents a $0.48 dividend on an annualized basis and a yield of 3.29%. 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 lifted their price objective on Crescent Energy from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. 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. Pickering Energy Partners assumed coverage on Crescent Energy in a report on Monday, October 28th. They issued an “outperform” rating for the company. Raymond James boosted their price target on Crescent Energy from $19.00 to $20.00 and gave the company a “strong-buy” rating in a report on Thursday, November 21st. Finally, Evercore ISI reiterated an “outperform” rating and issued a $17.00 price target on shares of Crescent Energy in a report on Tuesday, September 24th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $16.60.

Crescent Energy Profile

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.