Short Interest in Crescent Energy (NYSE:CRGY) Decreases By 6.4%

Crescent Energy (NYSE:CRGY) was the target of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 15,980,000 shares, a drop of 6.4% from the November 15th total of 17,070,000 shares. Based on an average daily volume of 3,550,000 shares, the short-interest ratio is presently 4.5 days. Currently, 10.5% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CRGY. Pickering Energy Partners assumed coverage on shares of Crescent Energy in a report on Monday, October 28th. They set an “outperform” rating for the company. Mizuho lifted their price target on shares of Crescent Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday. JPMorgan Chase & Co. assumed coverage on Crescent Energy in a research note on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 price objective on the stock. 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. Finally, Evercore ISI restated an “outperform” rating and issued a $17.00 price objective on shares of Crescent Energy in a report on Tuesday, September 24th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $16.80.

Crescent Energy Stock Down 2.6 %

CRGY stock traded down $0.38 during trading on Monday, reaching $14.22. 2,218,078 shares of the company traded hands, compared to its average volume of 2,471,375. The business has a 50 day simple moving average of $13.65 and a 200 day simple moving average of $12.35. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $15.54. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 22.93 and a beta of 2.17.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings results on Monday, November 4th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.11. The business had revenue of $744.87 million for the quarter, compared to analysts’ expectations of $793.88 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. During the same period last year, the business earned $0.35 EPS. On average, equities research analysts anticipate that Crescent Energy will post 0.98 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend was Monday, November 18th. Crescent Energy’s dividend payout ratio is currently 77.42%.

Institutional Trading of Crescent Energy

Several hedge funds and other institutional investors have recently made changes to their positions in CRGY. CWM LLC increased its position in Crescent Energy by 618.9% during the 2nd quarter. CWM LLC now owns 2,128 shares of the company’s stock valued at $25,000 after buying an additional 1,832 shares in the last quarter. Raymond James & Associates raised its position in shares of Crescent Energy by 818.0% in the 2nd 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 during the last quarter. Nisa Investment Advisors LLC boosted its stake in Crescent Energy by 18,564.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 301,616 shares of the company’s stock worth $3,574,000 after purchasing an additional 300,000 shares in the last quarter. Spirit of America Management Corp NY acquired a new stake in Crescent Energy in the 2nd quarter worth approximately $36,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Crescent Energy by 13.2% in 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 during the last quarter. Hedge funds and other institutional investors own 52.11% of the company’s stock.

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.