Crescent Energy Sees Unusually High Options Volume (NYSE:CRGY)

Crescent Energy Company (NYSE:CRGY) saw unusually large options trading on Wednesday. Stock investors bought 13,551 call options on the stock. This represents an increase of approximately 821% compared to the average daily volume of 1,471 call options.

Institutional Investors Weigh In On Crescent Energy

Institutional investors have recently added to or reduced their stakes in the company. Caitlin John LLC acquired a new stake in shares of Crescent Energy in the third quarter worth $27,000. Nisa Investment Advisors LLC lifted its stake in Crescent Energy by 50.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company’s stock worth $33,000 after acquiring an additional 1,241 shares in the last quarter. Fifth Third Bancorp boosted its position in Crescent Energy by 109.3% during the 4th quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock worth $33,000 after acquiring an additional 2,039 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in Crescent Energy by 134.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock worth $33,000 after acquiring an additional 2,286 shares during the period. Finally, Quarry LP grew its stake in Crescent Energy by 303.5% during the 3rd quarter. Quarry LP now owns 4,152 shares of the company’s stock valued at $37,000 after acquiring an additional 3,123 shares in the last quarter. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on CRGY shares. Wall Street Zen downgraded shares of Crescent Energy from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. BMO Capital Markets began coverage on shares of Crescent Energy in a research report on Friday, January 9th. They set a “market perform” rating and a $10.00 price objective for the company. Evercore assumed coverage on Crescent Energy in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $13.00 target price for the company. Weiss Ratings upgraded Crescent Energy from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, February 27th. Finally, Piper Sandler reduced their price objective on Crescent Energy from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, November 18th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $12.56.

Crescent Energy Stock Up 2.6%

CRGY opened at $11.53 on Thursday. The stock’s 50 day moving average price is $9.40 and its 200 day moving average price is $9.08. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a market cap of $2.94 billion, a P/E ratio of 22.17 and a beta of 1.57. Crescent Energy has a 12 month low of $6.83 and a 12 month high of $12.40.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.19. The company had revenue of $865.05 million during the quarter, compared to analyst estimates of $884.64 million. Crescent Energy had a return on equity of 8.36% and a net margin of 3.71%. As a group, research analysts predict that Crescent Energy will post 0.77 earnings per share for the current year.

Crescent Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Wednesday, March 11th. Crescent Energy’s payout ratio is 92.31%.

Crescent Energy Company Profile

Crescent Energy Co (NYSE: CRGY) is an independent exploration and production company focused on the acquisition, development and production of oil and natural gas resources in North America. Headquartered in Oklahoma City, the company’s core business activities include the identification and appraisal of prospective acreage, the design and execution of drilling and completion programs, and the ongoing operation and optimization of producing wells. Crescent Energy’s integrated approach emphasizes capital efficiency, reservoir quality and operational reliability to support sustainable cash flow generation over the commodity cycle.

Crescent Energy’s operations are concentrated in the Permian Basin, with a particular focus on the Delaware Basin’s stacked pay intervals.