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

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

Institutional Trading of Crescent Energy

Several large investors have recently added to or reduced their stakes in the company. Interval Partners LP acquired a new position in shares of Crescent Energy during the second quarter valued at approximately $1,835,000. Susquehanna Fundamental Investments LLC acquired a new position in Crescent Energy during the second quarter worth $3,496,000. Empowered Funds LLC raised its stake in shares of Crescent Energy by 11.4% in the third quarter. Empowered Funds LLC now owns 925,301 shares of the company’s stock valued at $10,132,000 after acquiring an additional 94,948 shares in the last quarter. SIR Capital Management L.P. acquired a new position in Crescent Energy during the 2nd quarter worth $1,365,000. Finally, Phocas Financial Corp. acquired a new position in Crescent Energy during the 3rd quarter worth $3,400,000. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Analyst Ratings Changes

CRGY has been the topic of a number of research analyst reports. Pickering Energy Partners assumed coverage on Crescent Energy in a report on Monday, October 28th. They set an “outperform” rating on the stock. Mizuho raised their price objective on Crescent Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday. Evercore ISI reaffirmed an “outperform” rating and issued a $17.00 price objective on shares of Crescent Energy in a research note on Tuesday, September 24th. Stephens increased their target price on Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Finally, Wells Fargo & Company decreased their price target on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Two 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 company’s stock. According to MarketBeat, Crescent Energy presently has an average rating of “Buy” and an average target price of $16.80.

Crescent Energy Stock Down 1.6 %

Shares of NYSE:CRGY traded down $0.23 on Tuesday, reaching $13.98. The company had a trading volume of 1,350,440 shares, compared to its average volume of 2,466,484. Crescent Energy has a 52-week low of $9.88 and a 52-week high of $15.54. The firm’s 50 day simple moving average is $13.65 and its 200-day simple moving average is $12.35. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $3.19 billion, a PE ratio of 22.93 and a beta of 2.17.

Crescent Energy (NYSE:CRGY) last announced its earnings results on Monday, November 4th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.11. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. The firm had revenue of $744.87 million for the quarter, compared to the consensus estimate of $793.88 million. During the same period in the previous year, the business earned $0.35 EPS. As a group, analysts expect that Crescent Energy will post 0.98 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.48 annualized dividend and a yield of 3.43%. Crescent Energy’s payout ratio is presently 77.42%.

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.