Crescent Energy (NYSE:CRGY) Short Interest Update

Crescent Energy (NYSE:CRGY) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 14,180,000 shares, an increase of 13.9% from the May 31st total of 12,450,000 shares. Based on an average trading volume of 2,200,000 shares, the days-to-cover ratio is presently 6.4 days. Approximately 14.0% of the company’s shares are sold short.

Analyst Ratings Changes

CRGY has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their price objective on shares of Crescent Energy from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Stephens reiterated an “overweight” rating and issued a $17.00 price target on shares of Crescent Energy in a report on Tuesday, March 5th. Truist Financial increased their price objective on Crescent Energy from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. KeyCorp initiated coverage on Crescent Energy in a research report on Thursday, June 27th. They set an “overweight” rating and a $16.00 target price for the company. Finally, Mizuho increased their price target on Crescent Energy from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. One analyst has rated the stock with a hold rating, five have assigned 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 $16.56.

Crescent Energy Trading Up 2.6 %

Shares of NYSE:CRGY traded up $0.31 during trading on Wednesday, reaching $12.35. The stock had a trading volume of 985,067 shares, compared to its average volume of 1,765,750. The firm’s 50-day simple moving average is $11.88 and its 200 day simple moving average is $11.65. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88. Crescent Energy has a one year low of $9.74 and a one year high of $14.22.

Crescent Energy (NYSE:CRGY) last announced its earnings results on Monday, May 6th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.28. The company had revenue of $657.47 million during the quarter, compared to the consensus estimate of $579.44 million. Crescent Energy had a negative net margin of 0.67% and a positive return on equity of 12.90%. As a group, equities research analysts expect that Crescent Energy will post 1.68 EPS for the current year.

Crescent Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Tuesday, May 21st were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.89%. The ex-dividend date was Monday, May 20th. Crescent Energy’s dividend payout ratio is currently -239.99%.

Institutional Investors Weigh In On Crescent Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRGY. Boston Partners acquired a new position in shares of Crescent Energy during the first quarter valued at about $630,000. Cetera Advisors LLC purchased a new stake in Crescent Energy during the 1st quarter worth approximately $336,000. Cetera Investment Advisers grew its position in Crescent Energy by 646.0% during the 1st quarter. Cetera Investment Advisers now owns 215,947 shares of the company’s stock worth $2,570,000 after purchasing an additional 187,001 shares during the last quarter. Virtu Financial LLC acquired a new position in Crescent Energy during the 1st quarter valued at approximately $179,000. Finally, Yaupon Capital Management LP purchased a new position in shares of Crescent Energy in the first quarter worth $10,710,000. 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.