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

Crescent Energy (NYSE:CRGY - Get Free Report) was the target of a large increase in short interest during 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. Currently, 13.0% of the company's stock are short sold.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CRGY shares. Wells Fargo & Company lowered their price target on Crescent Energy from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Monday, October 21st. JPMorgan Chase & Co. started coverage on Crescent Energy in a report on Wednesday, September 18th. They set a "neutral" rating and a $12.00 target price on the stock. Mizuho decreased their target price on Crescent Energy from $14.00 to $13.00 and set a "neutral" rating on the stock in a report on Monday, September 16th. Wolfe Research started coverage on Crescent Energy in a report on Thursday, July 18th. They set an "outperform" rating and a $16.00 target price on the stock. Finally, Pickering Energy Partners initiated coverage on Crescent Energy in a report on Monday. They set an "outperform" rating on the stock. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $15.70.

Crescent Energy Price Performance

Shares of Crescent Energy stock traded down $0.36 during trading on Monday, reaching $12.20. 2,110,325 shares of the company's stock were exchanged, compared to its average volume of 2,366,480. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.87 and a current ratio of 1.87. Crescent Energy has a 1-year low of $9.88 and a 1-year high of $13.85. The company has a market cap of $2.17 billion, a P/E ratio of -61.00 and a beta of 2.19. The firm's 50-day moving average price is $11.73 and its 200 day moving average price is $11.74.

Crescent Energy (NYSE:CRGY - Get Free Report) last issued its earnings results on Monday, August 5th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.05. Crescent Energy had a return on equity of 13.41% and a net margin of 0.61%. The business had revenue of $653.28 million during the quarter, compared to analysts' expectations of $619.00 million. As a group, research analysts anticipate that Crescent Energy will post 1.27 earnings per share for the current year.

Crescent Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were issued a $0.12 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.48 dividend on an annualized basis and a yield of 3.93%. Crescent Energy's payout ratio is presently -240.00%.

Insider Activity at Crescent Energy

In related news, Director Michael Duginski purchased 9,344 shares of the stock in a transaction on Thursday, August 8th. The shares were purchased at an average price of $10.62 per share, with a total value of $99,233.28. Following the transaction, the director now directly owns 201,081 shares of the company's stock, valued at $2,135,480.22. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have bought 12,294 shares of company stock valued at $131,297. 13.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Crescent Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Crescent Energy by 13.9% during the 1st quarter. Vanguard Group Inc. now owns 9,308,793 shares of the company's stock valued at $110,775,000 after purchasing an additional 1,137,367 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Crescent Energy by 444.8% during the 2nd quarter. American Century Companies Inc. now owns 7,775,940 shares of the company's stock valued at $92,145,000 after purchasing an additional 6,348,598 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Crescent Energy by 286.7% during the 2nd quarter. Marshall Wace LLP now owns 2,830,118 shares of the company's stock valued at $33,537,000 after purchasing an additional 2,098,303 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Crescent Energy by 85.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,656,222 shares of the company's stock valued at $31,477,000 after purchasing an additional 1,226,027 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its position in shares of Crescent Energy by 63.0% during the 1st quarter. Bridgeway Capital Management LLC now owns 1,590,748 shares of the company's stock valued at $18,930,000 after purchasing an additional 614,969 shares in the last quarter. Institutional investors and hedge funds own 52.11% of the company's stock.

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.