Short Interest in Crescent Energy (NYSE:CRGY) Rises By 29.4%

Crescent Energy (NYSE:CRGY) was the recipient of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 19,850,000 shares, an increase of 29.4% from the September 30th total of 15,340,000 shares. Based on an average daily trading volume, of 3,540,000 shares, the days-to-cover ratio is presently 5.6 days. Approximately 13.0% of the company’s stock are sold short.

Insider Buying and Selling at Crescent Energy

In related news, Director Michael Duginski purchased 9,344 shares of the stock in a transaction dated Thursday, August 8th. The shares were acquired at an average cost of $10.62 per share, for a total transaction of $99,233.28. Following the acquisition, the director now directly owns 201,081 shares in the company, valued at approximately $2,135,480.22. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have purchased 12,294 shares of company stock worth $131,297. 13.20% of the stock is currently owned by company insiders.

Institutional Trading of Crescent Energy

Hedge funds have recently bought and sold shares of the stock. CWM LLC raised its position in shares of Crescent Energy by 618.9% during the second quarter. CWM LLC now owns 2,128 shares of the company’s stock valued at $25,000 after buying an additional 1,832 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Crescent Energy in the 2nd quarter valued at approximately $32,000. Spirit of America Management Corp NY acquired a new position in Crescent Energy in the 2nd quarter valued at approximately $36,000. Farther Finance Advisors LLC lifted its position in shares of Crescent Energy by 15,675.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock worth $35,000 after acquiring an additional 3,135 shares during the period. Finally, Equitec Proprietary Markets LLC acquired a new stake in shares of Crescent Energy during the 2nd quarter worth approximately $107,000. 52.11% of the stock is owned by institutional investors.

Crescent Energy Stock Down 0.7 %

CRGY stock opened at $12.13 on Wednesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.87 and a quick ratio of 1.87. The company has a 50-day moving average of $11.76 and a two-hundred day moving average of $11.74. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of -60.65 and a beta of 2.19. Crescent Energy has a 52-week low of $9.88 and a 52-week high of $13.85.

Crescent Energy (NYSE:CRGY) last released its earnings results on Monday, August 5th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. The firm had revenue of $653.28 million for 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%. As a group, equities research analysts anticipate that Crescent Energy will post 1.27 EPS for the current year.

Crescent Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors 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 3.96%. The ex-dividend date of this dividend was Monday, August 19th. Crescent Energy’s payout ratio is currently -240.00%.

Analysts Set New Price Targets

Several equities research analysts recently commented on CRGY shares. Stephens boosted their price target on Crescent Energy from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday. Pickering Energy Partners began coverage on shares of Crescent Energy in a research report on Monday. They issued an “outperform” rating for the company. Wells Fargo & Company dropped their price target on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Mizuho reduced their price objective on shares of Crescent Energy from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Finally, Truist Financial lowered their target price on shares of Crescent Energy from $19.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Two 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $15.70.

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.