Crescent Energy (NYSE:CRGY) Sees Unusually-High Trading Volume

Shares of Crescent Energy (NYSE:CRGY) saw an uptick in trading volume on Tuesday . 515,053 shares changed hands during trading, a decline of 69% from the previous session’s volume of 1,656,591 shares.The stock last traded at $11.81 and had previously closed at $11.91.

Analyst Ratings Changes

Several brokerages have recently commented on CRGY. Wells Fargo & Company increased their target price on Crescent Energy from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Stephens reaffirmed an “overweight” rating and set a $17.00 price target on shares of Crescent Energy in a research note on Tuesday, March 5th. Mizuho upped their price target on Crescent Energy from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Tudor, Pickering, Holt & Co. started coverage on Crescent Energy in a research note on Wednesday, April 10th. They set a “buy” rating and a $18.00 price target on the stock. Finally, Truist Financial upped their price target on Crescent Energy from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $16.63.

Crescent Energy Trading Down 1.6 %

The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88. The company has a fifty day moving average price of $11.77 and a two-hundred day moving average price of $11.62.

Crescent Energy (NYSE:CRGY) last announced its earnings results on Monday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.28. Crescent Energy had a positive return on equity of 12.90% and a negative net margin of 0.67%. The business had revenue of $657.47 million for the quarter, compared to analyst estimates of $579.44 million. As a group, equities analysts expect that Crescent Energy will post 1.65 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Tuesday, May 21st were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date was Monday, May 20th. Crescent Energy’s dividend payout ratio is presently -239.99%.

Institutional Investors Weigh In On Crescent Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Boston Partners acquired a new stake in Crescent Energy in the 1st quarter valued at approximately $630,000. Cetera Advisors LLC acquired a new position in shares of Crescent Energy during the 1st quarter worth approximately $336,000. Cetera Investment Advisers increased its position in shares of Crescent Energy by 646.0% during the 1st quarter. Cetera Investment Advisers now owns 215,947 shares of the company’s stock worth $2,570,000 after purchasing an additional 187,001 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Crescent Energy during the 1st quarter worth approximately $179,000. Finally, Yaupon Capital Management LP acquired a new position in shares of Crescent Energy during the 1st quarter worth approximately $10,710,000. Institutional investors and hedge funds own 52.11% of the company’s stock.

About Crescent Energy

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.