Stock Traders Buy High Volume of Crescent Energy Call Options (NYSE:CRGY)
by Mitch Edgeman · The Markets DailyCrescent Energy Company (NYSE:CRGY – Get Free Report) saw unusually large options trading on Friday. Stock investors bought 4,578 call options on the stock. This is an increase of approximately 128% compared to the typical volume of 2,007 call options.
Crescent Energy Stock Performance
NYSE:CRGY traded up $0.25 during mid-day trading on Friday, hitting $12.50. 2,046,611 shares of the company traded hands, compared to its average volume of 7,609,750. 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’s fifty day moving average price is $10.22 and its 200-day moving average price is $9.28. The firm has a market cap of $4.10 billion, a price-to-earnings ratio of 24.01 and a beta of 1.57. Crescent Energy has a one year low of $6.83 and a one year high of $12.79.
Crescent Energy (NYSE:CRGY – Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.30 by $0.19. The firm had revenue of $865.05 million for the quarter, compared to the consensus estimate of $884.64 million. Crescent Energy had a return on equity of 8.36% and a net margin of 3.71%. Research analysts anticipate that Crescent Energy will post 0.77 earnings per share for the current fiscal year.
Crescent Energy Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.48 annualized dividend and a yield of 3.8%. Crescent Energy’s payout ratio is currently 92.31%.
Analysts Set New Price Targets
A number of research firms have weighed in on CRGY. Weiss Ratings raised Crescent Energy from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, February 27th. Evercore assumed coverage on shares of Crescent Energy in a research report on Tuesday, December 16th. They set an “outperform” rating and a $13.00 price target for the company. BMO Capital Markets started coverage on shares of Crescent Energy in a research note on Friday, January 9th. They issued a “market perform” rating and a $10.00 price objective on the stock. JPMorgan Chase & Co. raised shares of Crescent Energy from a “neutral” rating to an “overweight” rating and set a $19.00 price objective on the stock in a report on Friday. Finally, Mizuho upped their target price on shares of Crescent Energy from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.78.
Read Our Latest Stock Analysis on Crescent Energy
Institutional Trading of Crescent Energy
Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Crescent Energy by 34.6% in the 4th quarter. Vanguard Group Inc. now owns 27,292,081 shares of the company’s stock worth $228,981,000 after buying an additional 7,015,982 shares during the period. American Century Companies Inc. raised its holdings in Crescent Energy by 8.0% during the third quarter. American Century Companies Inc. now owns 19,363,386 shares of the company’s stock valued at $172,721,000 after acquiring an additional 1,434,789 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Crescent Energy by 20.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,872,215 shares of the company’s stock valued at $107,999,000 after acquiring an additional 2,213,352 shares in the last quarter. State Street Corp lifted its position in shares of Crescent Energy by 27.6% in the fourth quarter. State Street Corp now owns 12,808,605 shares of the company’s stock valued at $107,464,000 after acquiring an additional 2,767,096 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Crescent Energy by 29.0% in the fourth quarter. Geode Capital Management LLC now owns 5,592,793 shares of the company’s stock worth $46,935,000 after acquiring an additional 1,256,114 shares during the period. 52.11% of the stock is currently owned by institutional investors.
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.