Crescent Energy (NYSE:CRGY) Short Interest Up 13.9% in June

Crescent Energy (NYSE:CRGY) was the target of a significant growth in short interest in the month of 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 daily volume of 2,200,000 shares, the short-interest ratio is currently 6.4 days. Approximately 14.0% of the company’s shares are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Crescent Energy by 13.9% in the first quarter. Vanguard Group Inc. now owns 9,308,793 shares of the company’s stock worth $110,775,000 after purchasing an additional 1,137,367 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Crescent Energy by 0.4% in the fourth quarter. Teacher Retirement System of Texas now owns 8,029,515 shares of the company’s stock worth $106,069,000 after purchasing an additional 34,631 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Crescent Energy by 22,968.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,658,443 shares of the company’s stock worth $48,328,000 after purchasing an additional 3,642,584 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in Crescent Energy by 21.2% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,668,560 shares of the company’s stock worth $22,042,000 after purchasing an additional 291,990 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its position in Crescent Energy by 63.0% in the first quarter. Bridgeway Capital Management LLC now owns 1,590,748 shares of the company’s stock worth $18,930,000 after purchasing an additional 614,969 shares during the last quarter. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Crescent Energy Trading Up 0.7 %

Crescent Energy stock traded up $0.08 during mid-day trading on Monday, reaching $11.93. The stock had a trading volume of 793,237 shares, compared to its average volume of 1,757,137. 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 has a fifty-two week low of $9.74 and a fifty-two week high of $14.22. The stock’s 50-day simple moving average is $11.84 and its 200-day simple moving average is $11.65.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.28. The firm had revenue of $657.47 million during the quarter, compared to analysts’ expectations of $579.44 million. Crescent Energy had a positive return on equity of 12.90% and a negative net margin of 0.67%. Equities research analysts forecast that Crescent Energy will post 1.65 EPS for the current year.

Crescent Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Tuesday, May 21st were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $0.48 annualized dividend and a dividend yield of 4.02%. Crescent Energy’s payout ratio is -239.99%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CRGY. Mizuho boosted their price objective 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. began coverage on shares of Crescent Energy in a research note on Wednesday, April 10th. They issued a “buy” rating and a $18.00 price objective for the company. KeyCorp initiated coverage on shares of Crescent Energy in a research note on Thursday. They set an “overweight” rating and a $16.00 target price on the stock. Truist Financial upped their price objective on shares of Crescent Energy from $19.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Finally, Wells Fargo & Company raised their target price on Crescent Energy from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $16.56.

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.