Crescent Energy Target of Unusually Large Options Trading (NYSE:CRGY)

Crescent Energy Company (NYSE:CRGY) saw some unusual options trading on Wednesday. Traders bought 13,551 call options on the company. This represents an increase of approximately 821% compared to the typical volume of 1,471 call options.

Crescent Energy Price Performance

NYSE:CRGY traded up $0.19 on Wednesday, reaching $11.43. 23,417,177 shares of the company’s stock traded hands, compared to its average volume of 6,919,711. The firm has a market cap of $2.91 billion, a PE ratio of 21.98 and a beta of 1.57. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.07. The stock has a 50-day simple moving average of $9.34 and a 200-day simple moving average of $9.07. Crescent Energy has a 12 month low of $6.83 and a 12 month high of $12.40.

Crescent Energy (NYSE:CRGY) last issued its earnings results on Wednesday, February 25th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.19. Crescent Energy had a return on equity of 8.36% and a net margin of 3.71%.The company had revenue of $865.05 million for the quarter, compared to the consensus estimate of $884.64 million. Equities research analysts forecast that Crescent Energy will post 0.77 earnings per share for the current year.

Crescent Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend 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%.

Hedge Funds Weigh In On Crescent Energy

Institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its stake in Crescent Energy by 16.1% during the first quarter. Royal Bank of Canada now owns 58,900 shares of the company’s stock worth $662,000 after acquiring an additional 8,173 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Crescent Energy by 8.9% during the 1st quarter. AQR Capital Management LLC now owns 17,104 shares of the company’s stock valued at $192,000 after purchasing an additional 1,397 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Crescent Energy by 6.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,670 shares of the company’s stock valued at $1,109,000 after purchasing an additional 6,184 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Crescent Energy by 42.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,969,411 shares of the company’s stock valued at $44,616,000 after buying an additional 1,174,576 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Crescent Energy by 32.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 244,456 shares of the company’s stock worth $2,748,000 after buying an additional 59,199 shares during the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CRGY shares. Weiss Ratings upgraded Crescent Energy from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday. Evercore began coverage on shares of Crescent Energy in a report on Tuesday, December 16th. They set an “outperform” rating and a $13.00 target price for the company. BMO Capital Markets began coverage on shares of Crescent Energy in a research note on Friday, January 9th. They set a “market perform” rating and a $10.00 price target on the stock. Zacks Research raised shares of Crescent Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 20th. Finally, Wall Street Zen lowered Crescent Energy from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $12.90.

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.