Crescent Energy (NYSE:CRGY) Short Interest Update

Crescent Energy (NYSE:CRGY - Get Free Report) saw a significant decline in short interest in March. As of March 31st, there was short interest totalling 13,710,000 shares, a decline of 18.5% from the March 15th total of 16,820,000 shares. Based on an average daily volume of 3,550,000 shares, the days-to-cover ratio is presently 3.9 days. Approximately 7.5% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

CRGY has been the topic of several research reports. Williams Trading set a $16.00 price target on shares of Crescent Energy in a research report on Wednesday, March 5th. Wells Fargo & Company lowered their price target on Crescent Energy from $21.00 to $20.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Siebert Williams Shank assumed coverage on Crescent Energy in a research note on Monday, February 3rd. They set a "buy" rating on the stock. Truist Financial upped their target price on Crescent Energy from $18.00 to $21.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. dropped their target price on Crescent Energy from $18.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $16.80.

Insiders Place Their Bets

In other news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of Crescent Energy stock in a transaction on Monday, March 10th. The stock was sold at an average price of $9.91, for a total value of $29,221,844.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Duginski purchased 20,000 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was acquired at an average cost of $10.57 per share, for a total transaction of $211,400.00. Following the completion of the purchase, the director now owns 259,607 shares in the company, valued at $2,744,045.99. The trade was a 8.35 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 24,932 shares of company stock worth $263,219. 13.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CRGY. Public Employees Retirement System of Ohio increased its stake in Crescent Energy by 35.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company's stock valued at $40,000 after buying an additional 705 shares during the period. Jones Financial Companies Lllp raised its holdings in Crescent Energy by 206.7% during the fourth quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company's stock worth $52,000 after purchasing an additional 2,377 shares in the last quarter. Quarry LP raised its holdings in Crescent Energy by 263.4% during the fourth quarter. Quarry LP now owns 4,353 shares of the company's stock worth $64,000 after purchasing an additional 3,155 shares in the last quarter. GAMMA Investing LLC lifted its position in Crescent Energy by 48.3% in the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company's stock worth $73,000 after purchasing an additional 1,621 shares during the period. Finally, Toth Financial Advisory Corp bought a new position in Crescent Energy during the 4th quarter valued at $131,000. Institutional investors own 52.11% of the company's stock.

Crescent Energy Stock Performance

CRGY stock traded up $0.22 during trading on Thursday, hitting $8.49. 2,022,661 shares of the company's stock traded hands, compared to its average volume of 3,242,982. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. The stock has a fifty day moving average price of $10.56 and a two-hundred day moving average price of $13.04. Crescent Energy has a 52 week low of $6.83 and a 52 week high of $16.94. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 13.69 and a beta of 1.88.

Crescent Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 annualized dividend and a dividend yield of 5.66%. Crescent Energy's dividend payout ratio is presently -69.57%.

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.