Short Interest in Crescent Energy (NYSE:CRGY) Declines By 18.5%

Crescent Energy (NYSE:CRGY) was the target of a large decline in short interest in the month of 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. Currently, 7.5% of the shares of the company are sold short. Based on an average trading volume of 3,550,000 shares, the days-to-cover ratio is presently 3.9 days.

Insider Buying and Selling at Crescent Energy

In other news, Director Michael Duginski bought 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $10.57 per share, with a total value of $211,400.00. Following the acquisition, the director now owns 259,607 shares of the company’s stock, valued at approximately $2,744,045.99. The trade was a 8.35 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $9.91, for a total transaction of $29,221,844.93. The disclosure for this sale can be found here. Insiders have acquired 24,932 shares of company stock valued at $263,219 in the last 90 days. 13.20% of the stock is currently owned by company insiders.

Institutional Trading of Crescent Energy

Institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio boosted its position 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 grew its stake in shares of Crescent Energy by 206.7% in 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 during the last quarter. Quarry LP increased its holdings in Crescent Energy by 263.4% during the 4th quarter. Quarry LP now owns 4,353 shares of the company’s stock valued at $64,000 after purchasing an additional 3,155 shares during the period. GAMMA Investing LLC raised its position in Crescent Energy by 48.3% during the 4th quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock valued at $73,000 after purchasing an additional 1,621 shares during the last quarter. Finally, Toth Financial Advisory Corp purchased a new stake in Crescent Energy in the 4th quarter worth approximately $131,000. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Stephens restated an “overweight” rating and set a $17.00 target price on shares of Crescent Energy in a research report on Monday, March 3rd. Mizuho upped their price objective on shares of Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Citigroup downgraded shares of Crescent Energy to a “reduce” rating in a research note on Wednesday, March 5th. Raymond James reissued a “strong-buy” rating and issued a $18.00 price target (down previously from $23.00) on shares of Crescent Energy in a report on Friday, March 28th. Finally, Siebert Williams Shank started coverage on shares of Crescent Energy in a research report on Monday, February 3rd. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, two have given 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, Crescent Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Crescent Energy Trading Up 2.8 %

Shares of CRGY traded up $0.23 during trading hours on Friday, hitting $8.36. The company had a trading volume of 3,660,911 shares, compared to its average volume of 3,222,744. Crescent Energy has a 52-week low of $6.83 and a 52-week high of $16.94. 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’s 50 day moving average price is $11.07 and its 200 day moving average price is $13.17. The firm has a market cap of $2.16 billion, a P/E ratio of 13.48 and a beta of 1.88.

Crescent Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a yield of 5.74%. Crescent Energy’s dividend payout ratio (DPR) is currently -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.