The Manufacturers Life Insurance Company Grows Position in Crescent Energy (NYSE:CRGY)

The Manufacturers Life Insurance Company boosted its holdings in Crescent Energy (NYSE:CRGY) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,698,678 shares of the company’s stock after acquiring an additional 33,626 shares during the quarter. The Manufacturers Life Insurance Company owned about 2.08% of Crescent Energy worth $40,501,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. CWM LLC raised its position in Crescent Energy by 618.9% in the second quarter. CWM LLC now owns 2,128 shares of the company’s stock worth $25,000 after acquiring an additional 1,832 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Crescent Energy in the second quarter worth $32,000. Spirit of America Management Corp NY purchased a new position in Crescent Energy in the second quarter worth $36,000. Farther Finance Advisors LLC raised its position in Crescent Energy by 15,675.0% in the third quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock worth $35,000 after acquiring an additional 3,135 shares in the last quarter. Finally, Amalgamated Bank raised its position in Crescent Energy by 86.4% in the third quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock worth $54,000 after acquiring an additional 2,272 shares in the last quarter. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Wall Street Analysts Forecast Growth

CRGY has been the topic of several research reports. Pickering Energy Partners initiated coverage on Crescent Energy in a report on Monday, October 28th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. initiated coverage on Crescent Energy in a report on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 target price on the stock. Truist Financial lowered their target price on Crescent Energy from $19.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Evercore ISI reissued an “outperform” rating and issued a $17.00 target price on shares of Crescent Energy in a report on Tuesday, September 24th. Finally, Mizuho upped their target price on Crescent Energy from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $16.30.

Crescent Energy Stock Up 1.8 %

CRGY opened at $14.81 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. The firm has a market cap of $3.38 billion, a P/E ratio of 23.89 and a beta of 2.19. Crescent Energy has a 52 week low of $9.88 and a 52 week high of $15.54. The business’s fifty day simple moving average is $12.90 and its 200 day simple moving average is $12.14.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.39 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $744.87 million for the quarter, compared to analyst estimates of $793.88 million. During the same period last year, the company earned $0.35 EPS. As a group, equities research analysts anticipate that Crescent Energy will post 0.97 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $0.12 dividend. The ex-dividend date is Monday, November 18th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.24%. Crescent Energy’s dividend payout ratio (DPR) is 77.42%.

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.