Crescent Energy (NYSE:CRGY) Short Interest Update

Crescent Energy (NYSE:CRGY) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 15,340,000 shares, a growth of 15.9% from the September 15th total of 13,240,000 shares. Based on an average daily volume of 3,640,000 shares, the short-interest ratio is currently 4.2 days. Currently, 10.1% of the company’s shares are short sold.

Crescent Energy Stock Performance

Shares of Crescent Energy stock traded down $0.03 during midday trading on Wednesday, hitting $12.46. The company had a trading volume of 2,003,428 shares, compared to its average volume of 2,398,722. The company has a fifty day simple moving average of $11.52 and a 200 day simple moving average of $11.71. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of -62.28 and a beta of 2.19. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 1.13. Crescent Energy has a 12-month low of $9.88 and a 12-month high of $13.85.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. Crescent Energy had a net margin of 0.61% and a return on equity of 13.41%. The business had revenue of $653.28 million during the quarter, compared to analysts’ expectations of $619.00 million. As a group, analysts predict that Crescent Energy will post 1.28 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were given a dividend of $0.12 per share. The ex-dividend date was Monday, August 19th. This represents a $0.48 dividend on an annualized basis and a yield of 3.85%. Crescent Energy’s dividend payout ratio is currently -240.00%.

Wall Street Analyst Weigh In

Several research firms have recently commented on CRGY. Mizuho reduced their price target on shares of Crescent Energy from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Wolfe Research initiated coverage on Crescent Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $16.00 target price for the company. Stephens reiterated an “overweight” rating and issued a $20.00 price target on shares of Crescent Energy in a report on Tuesday, August 6th. Truist Financial reduced their price target on Crescent Energy from $19.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, Wells Fargo & Company cut their target price on Crescent Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $16.20.

Insider Activity at Crescent Energy

In other news, Director Michael Duginski bought 9,344 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was acquired at an average cost of $10.62 per share, with a total value of $99,233.28. Following the transaction, the director now directly owns 201,081 shares in the company, valued at approximately $2,135,480.22. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders bought 12,294 shares of company stock worth $131,297. Company insiders own 13.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. CWM LLC boosted its position in Crescent Energy by 618.9% in the second quarter. CWM LLC now owns 2,128 shares of the company’s stock valued at $25,000 after buying an additional 1,832 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Crescent Energy during the 2nd quarter valued at approximately $32,000. Spirit of America Management Corp NY purchased a new stake in shares of Crescent Energy in the 2nd quarter valued at $36,000. GAMMA Investing LLC increased its stake in shares of Crescent Energy by 186.5% in the first quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock worth $54,000 after acquiring an additional 2,934 shares during the period. Finally, Equitec Proprietary Markets LLC acquired a new stake in shares of Crescent Energy in the second quarter worth $107,000. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

About Crescent Energy

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.