Crescent Energy (NYSE:CRGY) Sees Unusually-High Trading Volume - Should You Buy?

Key Points

• Crescent Energy shares saw unusually high trading volume, with about 10.9 million shares traded—56% more than in the prior session—while the stock traded near $13.09.
• The company agreed to acquire Devon Energy’s Eagle Ford assets for approximately $3.85 billion net, strengthening its scale and basin position but requiring a $1 billion stock offering that could dilute existing shareholders.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $17.08 versus the current share price; Crescent also recently exceeded quarterly earnings and revenue estimates.

Crescent Energy Company (NYSE:CRGY - Get Free Report) shares saw unusually-strong trading volume on Friday. Approximately 10,859,800 shares were traded during mid-day trading, an increase of 56% from the previous session's volume of 6,955,290 shares. The stock last traded at $13.0930 and had previously closed at $13.01.

Key Stories Impacting Crescent Energy

Here are the key news stories impacting Crescent Energy this week:

• Positive Sentiment: Crescent agreed to acquire Devon Energy’s Eagle Ford assets for an estimated net purchase price of approximately $3.85 billion, with other reports citing total consideration of about $4.2 billion. The transaction would add Tier 1 inventory, increase production and scale, and place the acquired properties adjacent to Crescent’s existing operations—potentially improving operating efficiencies and basin positioning. Crescent Energy to Acquire Eagle Ford Assets from Devon Energy
• Neutral Sentiment: The acquisition sharpens Crescent’s focus on its highest-return, longest-duration assets and reinforces its position as a leading Eagle Ford operator. The ultimate benefit will depend on the assets’ production performance, commodity prices and Crescent’s ability to integrate them successfully. Devon Energy Sells Eagle Ford Assets to Crescent Energy
• Negative Sentiment: To help fund the Devon transaction, Crescent launched a $1 billion public offering of Class A common stock and priced 80 million shares at $12.50 each. The issuance creates meaningful dilution for existing shareholders and was priced below the stock’s recent trading level, pressuring the shares. Crescent Energy Announces Pricing of Public Offering

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Zacks Research raised Crescent Energy from a "hold" rating to a "strong-buy" rating in a report on Monday. Truist Financial started coverage on Crescent Energy in a report on Thursday, September 17th. They set a "buy" rating and a $19.00 target price on the stock. Raymond James Financial restated a "strong-buy" rating on shares of Crescent Energy in a research note on Thursday, September 10th. Seaport Research Partners assumed coverage on Crescent Energy in a report on Thursday, September 3rd. They issued a "sell" rating and a $12.00 price target for the company. Finally, KeyCorp reiterated an "overweight" rating and set a $19.00 price target on shares of Crescent Energy in a research report on Thursday, June 11th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $17.08.

Crescent Energy Price Performance

The stock has a 50-day simple moving average of $13.24 and a 200 day simple moving average of $12.31. The stock has a market capitalization of $4.28 billion, a P/E ratio of -259.05 and a beta of 1.60. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.94 and a current ratio of 0.94.

Crescent Energy (NYSE:CRGY - Get Free Report) last released its earnings results on Monday, August 3rd. The company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.10. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.26 billion. Crescent Energy had a return on equity of 10.52% and a net margin of 1.27%.The business's revenue was up 55.3% on a year-over-year basis. On average, equities analysts forecast that Crescent Energy Company will post 2.56 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were given a dividend of $0.12 per share. The ex-dividend date was Monday, August 17th. This represents a $0.48 annualized dividend and a dividend yield of 3.7%. Crescent Energy's payout ratio is currently -960.00%.

Hedge Funds Weigh In On Crescent Energy

Several large investors have recently bought and sold shares of CRGY. First Trust Advisors LP raised its position in shares of Crescent Energy by 29.0% during the first quarter. First Trust Advisors LP now owns 1,542,176 shares of the company's stock worth $20,819,000 after purchasing an additional 346,242 shares during the period. Kohlberg Kravis Roberts & Co. L.P. increased its position in shares of Crescent Energy by 7.1% during the first quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 28,655,357 shares of the company's stock worth $386,847,000 after acquiring an additional 1,897,230 shares in the last quarter. Bank of America Corp DE lifted its position in Crescent Energy by 308.2% in the 1st quarter. Bank of America Corp DE now owns 3,056,820 shares of the company's stock valued at $41,267,000 after acquiring an additional 2,307,971 shares in the last quarter. Jennison Associates LLC increased its holdings in Crescent Energy by 74.1% during the 1st quarter. Jennison Associates LLC now owns 4,254,407 shares of the company's stock worth $57,435,000 after purchasing an additional 1,810,225 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Crescent Energy in the second quarter valued at about $1,762,000. 52.11% of the stock is currently owned by institutional investors and hedge funds.

About Crescent Energy

Crescent Energy Company is an independent, U.S.-based energy company engaged in the acquisition, development, and operation of oil and natural gas properties. Its production portfolio includes crude oil, natural gas, and natural gas liquids, with an emphasis on established assets that offer ongoing development opportunities.

The company's operations are concentrated in several major U.S. onshore producing regions, including the Eagle Ford, the Uinta Basin, and other assets across the Rocky Mountain and central United States.

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