Crescent Energy Company (NYSE: CRGY) stock fell -2.48% on Wednesday to $14.14 against a previous-day closing price of $14.50. With 0.26 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.49 million shares. The 52-week range on CRGY shows that it touched its highest point at $19.65 and its lowest point at $10.86 during that stretch. It currently has a 1-year price target of $17.25. With its current market cap of 2.39 billion, CRGY has annualized dividend of $0.68 while the current yield stands at 4.81%.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CRGY was up-trending over the past week, with a rise of 2.09%, but this was down by -3.15% over a month. Three-month performance dropped to -17.79% while six-month performance fell -18.17%. A look at the trailing 12-month EPS for CRGY yields 6.71 with Next year EPS estimates of 2.97. For the next quarter, that number is 1.02. This implies an EPS growth rate of -204.20% for this year and 29.17% for next year.
Float and Shares Shorts:
At present, 168.99 million CRGY shares are outstanding with a float of 38.43 million shares on hand for trading. On Oct 13, 2022, short shares totaled 4.67 million, which was 9.67% higher than short shares on Sep 14, 2022. In addition to Mr. David C. Rockecharlie as the firm’s CEO & Director, Ms. Brandi Kendall serves as its CFO & Director.
Through their ownership of 46.33% of CRGY’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 34.17% of CRGY, in contrast to 22.27% held by mutual funds. Shares owned by individuals account for 16.82%. As the largest shareholder in CRGY with 9.94% of the stake, Crescent Real Estate LLC holds 4,684,598 shares worth 4,684,598. A second-largest stockholder of CRGY, The Vanguard Group, Inc., holds 3,120,505 shares, controlling over 6.62% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in CRGY, holding 1,820,680 shares or 3.86% stake. With a 2.30% stake in CRGY, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 1,084,502 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 1.94% of CRGY stock, is the second-largest Mutual Fund holder. It holds 914,493 shares valued at 12.6 million. iShares Russell 2000 ETF holds 1.55% of the stake in CRGY, owning 731,454 shares worth 10.08 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CRGY since 4 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CRGY analysts setting a high price target of $20.00 and a low target of $15.00, the average target price over the next 12 months is $17.25. Based on these targets, CRGY could surge 41.44% to reach the target high and rise by 6.08% to reach the target low. Reaching the average price target will result in a growth of 21.99% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CRGY will report FY 2022 earnings on 03/08/2023. Analysts have provided yearly estimates in a range of $5.60 being high and $3.12 being low. For CRGY, this leads to a yearly average estimate of $3.99. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Crescent Energy Company surprised analysts by $1.52 when it reported $2.74 EPS against a consensus estimate of $1.22. Based on analyst estimates, the high estimate for the next quarter is $1.02 and the low estimate is $0.74. The average estimate for the next quarter is thus $0.89.
Summary of Insider Activity:
Insiders traded CRGY stock several times over the past three months with 2 Buys and 5 Sells. In these transactions, 12,644,708 shares were bought while 24,717,062 shares were sold. The number of buy transactions has increased to 43 while that of sell transactions has risen to 5 over the past year. The total number of shares bought during that period was 32,193,194 while 24,717,062 shares were sold.