Crescent Energy (NYSE:CRGY) Shares Purchased by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC boosted its stake in shares of Crescent Energy (NYSE:CRGY) by 64.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 490,233 shares of the company’s stock after buying an additional 192,700 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Crescent Energy were worth $7,162,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CRGY. Jones Financial Companies Lllp raised its holdings in shares of Crescent Energy by 206.7% during the 4th quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company’s stock worth $52,000 after acquiring an additional 2,377 shares during the period. GAMMA Investing LLC raised its stake in Crescent Energy by 48.3% during the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock worth $73,000 after purchasing an additional 1,621 shares during the period. Zacks Investment Management acquired a new position in Crescent Energy in the 3rd quarter valued at about $121,000. Toth Financial Advisory Corp purchased a new stake in shares of Crescent Energy in the 4th quarter valued at approximately $131,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Crescent Energy by 619.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company’s stock worth $152,000 after buying an additional 8,942 shares during the last quarter. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Crescent Energy news, Director Michael Duginski bought 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $10.57 per share, for a total transaction of $211,400.00. Following the completion of the purchase, the director now directly owns 259,607 shares in the company, valued at $2,744,045.99. This trade represents a 8.35 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $9.91, for a total value of $29,221,844.93. The disclosure for this sale can be found here. Insiders bought 24,932 shares of company stock worth $263,219 over the last 90 days. 13.20% of the stock is owned by insiders.

Crescent Energy Trading Down 15.7 %

CRGY opened at $7.81 on Monday. 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 stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 12.59 and a beta of 1.88. The business has a fifty day moving average price of $12.81 and a 200 day moving average price of $13.49. Crescent Energy has a 12 month low of $3.82 and a 12 month high of $16.94.

Crescent Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 6.15%. Crescent Energy’s payout ratio is -69.57%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Citigroup lowered Crescent Energy to a “reduce” rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. reduced their price target on shares of Crescent Energy from $18.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Siebert Williams Shank assumed coverage on shares of Crescent Energy in a research report on Monday, February 3rd. They set a “buy” rating for the company. Stephens reissued an “overweight” rating and issued a $17.00 target price on shares of Crescent Energy in a research report on Monday, March 3rd. Finally, Truist Financial raised their price target on Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Crescent Energy presently has an average rating of “Moderate Buy” and an average price target of $17.09.

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.