Crescent Energy Company $CRGY Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its position in shares of Crescent Energy Company (NYSE:CRGY) by 41.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,265,471 shares of the company’s stock after selling 3,076,753 shares during the period. Bank of New York Mellon Corp’s holdings in Crescent Energy were worth $57,584,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Osaic Holdings Inc. raised its stake in Crescent Energy by 25.2% in the second quarter. Osaic Holdings Inc. now owns 5,301 shares of the company’s stock valued at $46,000 after buying an additional 1,066 shares in the last quarter. First Citizens Bank & Trust Co. boosted its position in shares of Crescent Energy by 1.8% during the 4th quarter. First Citizens Bank & Trust Co. now owns 65,241 shares of the company’s stock worth $547,000 after acquiring an additional 1,152 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Crescent Energy by 2.0% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 62,706 shares of the company’s stock worth $526,000 after acquiring an additional 1,245 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Crescent Energy by 8.9% in the 1st quarter. AQR Capital Management LLC now owns 17,104 shares of the company’s stock valued at $192,000 after acquiring an additional 1,397 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Crescent Energy by 42.3% in the 4th quarter. Allworth Financial LP now owns 4,712 shares of the company’s stock valued at $40,000 after acquiring an additional 1,401 shares during the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Stock Performance

Shares of CRGY opened at $11.39 on Friday. The company’s 50 day simple moving average is $11.09 and its 200-day simple moving average is $11.18. The firm has a market cap of $3.76 billion, a PE ratio of -15.19 and a beta of 1.40. Crescent Energy Company has a 12-month low of $7.68 and a 12-month high of $14.29. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.12.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.14. Crescent Energy had a negative net margin of 7.47% and a positive return on equity of 8.10%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the business earned $0.57 EPS. Crescent Energy’s quarterly revenue was up 24.5% compared to the same quarter last year. As a group, equities analysts predict that Crescent Energy Company will post 1.77 EPS for the current year.

Crescent Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Monday, May 18th. Crescent Energy’s dividend payout ratio is presently -64.00%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CRGY. Wall Street Zen cut shares of Crescent Energy from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Zacks Research lowered shares of Crescent Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Stephens reissued an “overweight” rating and issued a $18.00 price target on shares of Crescent Energy in a research report on Tuesday, May 5th. UBS Group began coverage on shares of Crescent Energy in a research note on Tuesday, July 14th. They issued a “buy” rating and a $13.00 price objective for the company. Finally, Mizuho raised their price objective on Crescent Energy from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Crescent Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.58.

Crescent Energy Company 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.