Crescent Energy (NYSE:CRGY) Short Interest Down 6.4% in November

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

Crescent Energy Stock Performance

CRGY stock opened at $13.97 on Wednesday. Crescent Energy has a twelve month low of $9.88 and a twelve month high of $15.54. 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 company has a market cap of $3.19 billion, a P/E ratio of 22.52 and a beta of 2.17. The business’s fifty day moving average is $13.67 and its 200-day moving average is $12.36.

Crescent Energy (NYSE:CRGY) last released its earnings results on Monday, November 4th. The company reported $0.39 earnings per share for the quarter, beating 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 analyst estimates of $793.88 million. During the same quarter in the prior year, the firm posted $0.35 earnings per share. Equities research analysts forecast that Crescent Energy will post 0.98 EPS for the current year.

Crescent Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.44%. The ex-dividend date was Monday, November 18th. Crescent Energy’s payout ratio is 77.42%.

Institutional Investors Weigh In On Crescent Energy

Several large investors have recently bought and sold shares of CRGY. Sunbelt Securities Inc. grew its stake in Crescent Energy by 14.1% in the third quarter. Sunbelt Securities Inc. now owns 33,096 shares of the company’s stock valued at $362,000 after acquiring an additional 4,102 shares during the period. Neo Ivy Capital Management bought a new position in shares of Crescent Energy during the 3rd quarter valued at about $430,000. Geode Capital Management LLC grew its position in shares of Crescent Energy by 53.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,354,700 shares of the company’s stock valued at $36,741,000 after purchasing an additional 1,164,306 shares during the period. Barclays PLC increased its stake in Crescent Energy by 579.6% during the 3rd quarter. Barclays PLC now owns 241,137 shares of the company’s stock worth $2,641,000 after purchasing an additional 205,657 shares in the last quarter. Finally, Legacy Investment Solutions LLC bought a new stake in Crescent Energy during the 3rd quarter worth approximately $183,000. Institutional investors own 52.11% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CRGY. JPMorgan Chase & Co. began coverage on Crescent Energy in a report on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 target price on the stock. Wells Fargo & Company cut their price objective on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Evercore ISI restated an “outperform” rating and set a $17.00 target price on shares of Crescent Energy in a report on Tuesday, September 24th. Stephens lifted their price target on Crescent Energy from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Finally, Pickering Energy Partners began coverage on Crescent Energy in a report on Monday, October 28th. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $16.80.

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.