Stock Traders Buy High Volume of Call Options on Crescent Energy (NYSE:CRGY)

Crescent Energy Company (NYSE:CRGY) was the target of unusually large options trading activity on Wednesday. Investors purchased 13,551 call options on the stock. This represents an increase of approximately 821% compared to the typical daily volume of 1,471 call options.

Institutional Trading of Crescent Energy

A number of large investors have recently bought and sold shares of the stock. Caitlin John LLC acquired a new position in Crescent Energy during the third quarter worth $27,000. Nisa Investment Advisors LLC grew 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 worth $33,000 after purchasing an additional 1,241 shares during the last quarter. Fifth Third Bancorp increased its position in shares of 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 purchasing an additional 2,039 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of 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 purchasing an additional 2,286 shares in the last quarter. Finally, Quarry LP lifted 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 purchasing an additional 3,123 shares during the last quarter. 52.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on CRGY. BMO Capital Markets began coverage on shares of Crescent Energy in a report on Friday, January 9th. They issued a “market perform” rating and a $10.00 price target for the company. Weiss Ratings raised shares of Crescent Energy from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, February 27th. Zacks Research upgraded shares of Crescent Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 20th. Mizuho boosted their price target on Crescent Energy from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $9.00 price target on shares of Crescent Energy in a report on Sunday, January 25th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.67.

Crescent Energy Price Performance

NYSE:CRGY opened at $11.73 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.48 and a current ratio of 1.48. The company has a 50-day moving average of $9.47 and a 200-day moving average of $9.10. Crescent Energy has a 52 week low of $6.83 and a 52 week high of $12.40. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 22.56 and a beta of 1.57.

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

Crescent Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Wednesday, March 11th. Crescent Energy’s dividend payout ratio (DPR) is 92.31%.

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.