Crescent Energy (NYSE:CRGY) Short Interest Update

Crescent Energy (NYSE:CRGY) saw a significant decline in short interest in November. As of November 30th, there was short interest totalling 15,980,000 shares, a decline 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 shares of the company are short sold.

Analysts Set New Price Targets

Several research firms recently issued reports on CRGY. Stephens increased their target price on shares of Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Pickering Energy Partners assumed coverage on shares of Crescent Energy in a research note on Monday, October 28th. They issued an “outperform” rating for the company. Mizuho lifted their target price on shares of Crescent Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday. 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. Finally, JPMorgan Chase & Co. started coverage on Crescent Energy in a report on Wednesday, September 18th. They set a “neutral” rating and a $12.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $16.80.

Institutional Investors Weigh In On Crescent Energy

Large investors have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. increased its position in Crescent Energy by 14.1% during the third quarter. Sunbelt Securities Inc. now owns 33,096 shares of the company’s stock valued at $362,000 after acquiring an additional 4,102 shares during the last quarter. Neo Ivy Capital Management purchased a new position in shares of Crescent Energy during the 3rd quarter worth about $430,000. Geode Capital Management LLC grew its holdings in Crescent Energy by 53.2% during the 3rd quarter. Geode Capital Management LLC now owns 3,354,700 shares of the company’s stock valued at $36,741,000 after purchasing an additional 1,164,306 shares during the last quarter. Barclays PLC raised its position in Crescent Energy by 579.6% in the 3rd quarter. Barclays PLC now owns 241,137 shares of the company’s stock worth $2,641,000 after purchasing an additional 205,657 shares during the period. Finally, Legacy Investment Solutions LLC purchased a new stake in Crescent Energy in the 3rd quarter worth about $183,000. 52.11% of the stock is owned by institutional investors.

Crescent Energy Price Performance

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

Crescent Energy (NYSE:CRGY) last posted its 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. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. The firm had revenue of $744.87 million during the quarter, compared to analyst estimates of $793.88 million. During the same period last year, the firm posted $0.35 earnings per share. As a group, analysts predict that Crescent Energy will post 0.98 EPS for the current year.

Crescent Energy Announces Dividend

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