Crescent Energy (NYSE:CRGY) Short Interest Update

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

Insiders Place Their Bets

In other Crescent Energy news, Director Michael Duginski purchased 9,344 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were acquired at an average cost of $10.62 per share, with a total value of $99,233.28. Following the completion of the acquisition, the director now directly owns 201,081 shares in the company, valued at $2,135,480.22. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders bought a total of 12,294 shares of company stock worth $131,297 over the last three months. 13.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CRGY. CWM LLC raised its holdings in shares of Crescent Energy by 618.9% in the second quarter. CWM LLC now owns 2,128 shares of the company’s stock worth $25,000 after buying an additional 1,832 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Crescent Energy in the second quarter worth $32,000. Spirit of America Management Corp NY bought a new stake in shares of Crescent Energy during the second quarter worth $36,000. GAMMA Investing LLC boosted its stake in shares of Crescent Energy by 186.5% during the first quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock valued at $54,000 after purchasing an additional 2,934 shares during the period. Finally, Equitec Proprietary Markets LLC bought a new position in shares of Crescent Energy in the second quarter worth about $107,000. Institutional investors own 52.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CRGY. Mizuho cut their price objective 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. Evercore ISI reiterated an “outperform” rating and issued a $17.00 price target on shares of Crescent Energy in a report on Tuesday, September 24th. JPMorgan Chase & Co. began coverage on shares of Crescent Energy in a report on Wednesday, September 18th. They set a “neutral” rating and a $12.00 price objective for the company. KeyCorp assumed coverage on Crescent Energy in a research report on Thursday, June 27th. They set an “overweight” rating and a $16.00 price objective for the company. Finally, Stephens reiterated an “overweight” rating and issued a $20.00 target price on shares of Crescent Energy in a research report on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $16.20.

Crescent Energy Trading Down 0.2 %

Shares of NYSE:CRGY traded down $0.03 during trading on Wednesday, reaching $12.46. The company’s stock had a trading volume of 2,003,428 shares, compared to its average volume of 2,398,722. The stock has a market capitalization of $2.21 billion, a PE ratio of -62.28 and a beta of 2.19. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $13.85. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.13. The firm’s 50 day simple moving average is $11.52 and its two-hundred day simple moving average is $11.71.

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

Crescent Energy Dividend Announcement

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

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.