State Street Corp Has $74.29 Million Holdings in Crescent Energy (NYSE:CRGY)

State Street Corp increased its holdings in Crescent Energy (NYSE:CRGY) by 78.6% in the third quarter, Holdings Channel reports. The institutional investor owned 6,783,997 shares of the company’s stock after buying an additional 2,986,468 shares during the period. State Street Corp’s holdings in Crescent Energy were worth $74,285,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. CWM LLC raised its holdings in Crescent Energy by 618.9% in the 2nd quarter. CWM LLC now owns 2,128 shares of the company’s stock valued at $25,000 after acquiring an additional 1,832 shares in the last quarter. Raymond James & Associates raised its stake in Crescent Energy by 818.0% in the second quarter. Raymond James & Associates now owns 113,092 shares of the company’s stock valued at $1,340,000 after purchasing an additional 100,772 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Crescent Energy by 18,564.4% in the second quarter. Nisa Investment Advisors LLC now owns 301,616 shares of the company’s stock valued at $3,574,000 after purchasing an additional 300,000 shares in the last quarter. Spirit of America Management Corp NY bought a new stake in Crescent Energy during the second quarter worth about $36,000. Finally, Bank of New York Mellon Corp grew its stake in Crescent Energy by 13.2% during the second quarter. Bank of New York Mellon Corp now owns 751,012 shares of the company’s stock worth $8,899,000 after buying an additional 87,318 shares in the last quarter. 52.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Raymond James upped their price target on shares of Crescent Energy from $19.00 to $20.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 21st. Truist Financial upped their target price on Crescent Energy from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Evercore ISI reiterated an “outperform” rating and issued a $17.00 price target on shares of Crescent Energy in a research note on Tuesday, September 24th. Mizuho upped their price objective on Crescent Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Stephens lifted their target price on Crescent Energy from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Crescent Energy presently has a consensus rating of “Buy” and a consensus price target of $16.80.

Crescent Energy Price Performance

Crescent Energy stock opened at $13.97 on Wednesday. The company has a market capitalization of $3.19 billion, a PE ratio of 22.52 and a beta of 2.17. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. The stock has a 50-day moving average price of $13.67 and a two-hundred day moving average price of $12.36. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $15.54.

Crescent Energy (NYSE:CRGY) last issued 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 net margin of 2.17% and a return on equity of 12.53%. The business had revenue of $744.87 million during the quarter, compared to analyst estimates of $793.88 million. During the same quarter last year, the business earned $0.35 EPS. Analysts expect that Crescent Energy will post 0.98 EPS for the current year.

Crescent Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.48 annualized dividend and a dividend yield of 3.44%. Crescent Energy’s dividend payout ratio is 77.42%.

Crescent Energy Company 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.