Crescent Energy (NYSE:CRGY) Short Interest Down 10.7% in October

Crescent Energy (NYSE:CRGY) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 17,730,000 shares, a decrease of 10.7% from the October 15th total of 19,850,000 shares. Based on an average trading volume of 3,100,000 shares, the days-to-cover ratio is currently 5.7 days. Currently, 11.6% of the company’s shares are short sold.

Institutional Investors Weigh In On Crescent Energy

Several large investors have recently made changes to their positions in CRGY. CWM LLC boosted its holdings in shares of Crescent Energy by 618.9% in the 2nd 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 stake in shares of Crescent Energy in the 2nd quarter valued at approximately $32,000. Farther Finance Advisors LLC boosted its holdings 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 valued at $35,000 after buying an additional 3,135 shares during the last quarter. Spirit of America Management Corp NY acquired a new stake in shares of Crescent Energy in the 2nd quarter valued at approximately $36,000. Finally, Amalgamated Bank boosted its holdings in shares of Crescent Energy by 86.4% in the 3rd quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock valued at $54,000 after buying an additional 2,272 shares during the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.

Crescent Energy Stock Up 3.4 %

NYSE:CRGY traded up $0.47 during trading hours on Monday, reaching $14.11. 1,746,612 shares of the stock were exchanged, compared to its average volume of 2,342,802. Crescent Energy has a twelve month low of $9.88 and a twelve month high of $14.24. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a 50 day moving average of $12.32 and a 200 day moving average of $11.99. The stock has a market cap of $3.22 billion, a PE ratio of 22.76 and a beta of 2.19.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings results on Monday, November 4th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $793.88 million. During the same quarter in the prior year, the firm posted $0.35 EPS. On average, equities analysts expect that Crescent Energy will post 0.97 earnings per share for the current year.

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Monday, November 18th. Crescent Energy’s payout ratio is presently 77.42%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Stephens upped 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, October 28th. Pickering Energy Partners assumed coverage on Crescent Energy in a research report on Monday, October 28th. They issued an “outperform” rating for the company. Evercore ISI reiterated an “outperform” rating and issued a $17.00 price objective on shares of Crescent Energy in a research report on Tuesday, September 24th. Truist Financial decreased their price objective on Crescent Energy from $19.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. assumed coverage on Crescent Energy in a research report on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 price objective for the company. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $15.80.

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.