Crescent Energy (NYSE:CRGY) Sees Strong Trading Volume – Here’s What Happened

Crescent Energy Company (NYSE:CRGY) shares saw strong trading volume on Wednesday . 12,477,016 shares traded hands during trading, an increase of 89% from the previous session’s volume of 6,618,380 shares.The stock last traded at $11.04 and had previously closed at $11.24.

Wall Street Analysts Forecast Growth

CRGY has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Crescent Energy from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Piper Sandler dropped their price target 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. Wells Fargo & Company cut their price target on Crescent Energy from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, January 27th. Jefferies Financial Group reiterated a “hold” rating and set a $9.00 price objective on shares of Crescent Energy in a research report on Sunday, January 25th. Finally, Zacks Research upgraded Crescent Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $12.90.

Crescent Energy Stock Performance

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 company has a market cap of $2.91 billion, a price-to-earnings ratio of 21.98 and a beta of 1.57. The firm has a 50 day simple moving average of $9.34 and a 200-day simple moving average of $9.07.

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

Crescent Energy Announces Dividend

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

Institutional Trading of Crescent Energy

Several institutional investors have recently added to or reduced their stakes in the stock. Caitlin John LLC acquired a new position in Crescent Energy during the third quarter worth $27,000. Nisa Investment Advisors LLC raised its holdings in shares of Crescent Energy by 50.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company’s stock valued at $33,000 after buying an additional 1,241 shares during the period. Fifth Third Bancorp lifted its stake 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 in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake 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 in the last quarter. Finally, Quarry LP boosted its holdings 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 during the period. Institutional investors and hedge funds own 52.11% of the company’s stock.

About Crescent Energy

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.