Short Interest in Crescent Energy (NYSE:CRGY) Grows By 13.9%

Crescent Energy (NYSE:CRGY) saw a large growth in short interest in June. As of June 15th, there was short interest totalling 14,180,000 shares, a growth of 13.9% from the May 31st total of 12,450,000 shares. Based on an average trading volume of 2,200,000 shares, the short-interest ratio is currently 6.4 days. Approximately 14.0% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CRGY shares. Wells Fargo & Company boosted their target price on shares of Crescent Energy from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Stephens reaffirmed an “overweight” rating and set a $17.00 price objective on shares of Crescent Energy in a research report on Tuesday, March 5th. Tudor, Pickering, Holt & Co. initiated coverage on Crescent Energy in a research report on Wednesday, April 10th. They set a “buy” rating and a $18.00 target price on the stock. Mizuho boosted their target price on Crescent Energy from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Finally, KeyCorp began coverage on shares of Crescent Energy in a research note on Thursday, June 27th. They issued an “overweight” rating and a $16.00 price target on the stock. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $16.56.

Hedge Funds Weigh In On Crescent Energy

A number of large investors have recently bought and sold shares of CRGY. GAMMA Investing LLC increased its holdings in Crescent Energy by 186.5% in the first quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock valued at $54,000 after buying an additional 2,934 shares in the last quarter. Amalgamated Bank lifted its position in shares of Crescent Energy by 58.5% in the fourth quarter. Amalgamated Bank now owns 7,444 shares of the company’s stock valued at $98,000 after acquiring an additional 2,748 shares in the last quarter. J.W. Cole Advisors Inc. acquired a new stake in shares of Crescent Energy during the fourth quarter valued at $136,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Crescent Energy during the 4th quarter worth about $139,000. Finally, Carson Advisory Inc. purchased a new stake in Crescent Energy during the 4th quarter worth about $144,000. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Crescent Energy Stock Up 2.7 %

NYSE:CRGY traded up $0.32 during mid-day trading on Wednesday, reaching $12.36. 860,117 shares of the stock were exchanged, compared to its average volume of 1,764,957. Crescent Energy has a 1 year low of $9.74 and a 1 year high of $14.22. The company has a 50 day simple moving average of $11.88 and a 200-day simple moving average of $11.65. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.28. The business had revenue of $657.47 million during the quarter, compared to the consensus estimate of $579.44 million. Crescent Energy had a positive return on equity of 12.90% and a negative net margin of 0.67%. On average, equities analysts predict that Crescent Energy will post 1.68 earnings per share for the current year.

Crescent Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Tuesday, May 21st were paid a $0.12 dividend. The ex-dividend date was Monday, May 20th. This represents a $0.48 annualized dividend and a dividend yield of 3.88%. Crescent Energy’s dividend payout ratio (DPR) is currently -239.99%.

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.