Crescent Energy Sees Unusually High Options Volume (NYSE:CRGY)

Crescent Energy Company (NYSE:CRGY) was the recipient of unusually large options trading on Wednesday. Traders acquired 13,551 call options on the company. This represents an increase of approximately 821% compared to the average volume of 1,471 call options.

Hedge Funds Weigh In On Crescent Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Crescent Energy by 34.6% in the fourth quarter. Vanguard Group Inc. now owns 27,292,081 shares of the company’s stock worth $228,981,000 after acquiring an additional 7,015,982 shares during the period. American Century Companies Inc. lifted its position in Crescent Energy by 28.4% during the second quarter. American Century Companies Inc. now owns 17,928,597 shares of the company’s stock valued at $154,186,000 after purchasing an additional 3,960,998 shares during the period. Balyasny Asset Management L.P. boosted its holdings in Crescent Energy by 775.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 3,303,260 shares of the company’s stock worth $27,714,000 after purchasing an additional 2,925,780 shares during the last quarter. State Street Corp grew its position in Crescent Energy by 27.6% in the 4th quarter. State Street Corp now owns 12,808,605 shares of the company’s stock worth $107,464,000 after purchasing an additional 2,767,096 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Crescent Energy by 77.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,105,558 shares of the company’s stock valued at $42,836,000 after buying an additional 2,234,324 shares during the last quarter. Institutional investors own 52.11% of the company’s stock.

Crescent Energy Stock Up 1.7%

Crescent Energy stock traded up $0.19 during trading hours on Wednesday, hitting $11.43. The stock had a trading volume of 23,417,177 shares, compared to its average volume of 6,919,711. The stock’s 50-day moving average price is $9.34 and its 200-day moving average price is $9.07. The stock has a market capitalization of $2.91 billion, a P/E ratio of 21.98 and a beta of 1.57. Crescent Energy has a 12-month low of $6.83 and a 12-month high of $12.40. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.07.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.19. The company had revenue of $865.05 million during the quarter, compared to the consensus estimate of $884.64 million. Crescent Energy had a net margin of 3.71% and a return on equity of 8.36%. Equities research analysts anticipate that Crescent Energy will post 0.77 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.48 annualized dividend and a dividend yield of 4.2%. Crescent Energy’s dividend payout ratio (DPR) is 92.31%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CRGY shares. Mizuho upped their price target on Crescent Energy from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Jefferies Financial Group reiterated a “hold” rating and issued a $9.00 price target on shares of Crescent Energy in a research note on Sunday, January 25th. Wells Fargo & Company lowered their price target on shares of Crescent Energy from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, January 27th. Wall Street Zen cut shares of Crescent Energy from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Evercore assumed coverage on shares of Crescent Energy in a report on Tuesday, December 16th. They set an “outperform” rating and a $13.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Crescent Energy currently has an average rating of “Hold” and an average target price of $12.90.

About Crescent Energy

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.