Crescent Energy Company Plans Quarterly Dividend of $0.12 (NYSE:CRGY)

Crescent Energy Company (NYSE:CRGY) declared a quarterly dividend on Wednesday, February 25th. Investors of record on Wednesday, March 11th will be paid a dividend of 0.12 per share on Wednesday, March 25th. This represents a c) dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Wednesday, March 11th.

Crescent Energy has a payout ratio of 31.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Crescent Energy to earn $2.21 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 21.7%.

Crescent Energy Stock Up 4.8%

NYSE CRGY traded up $0.49 during mid-day trading on Thursday, reaching $10.80. The stock had a trading volume of 4,954,285 shares, compared to its average volume of 5,862,767. The stock has a market cap of $2.75 billion, a PE ratio of -71.43 and a beta of 1.73. Crescent Energy has a 1 year low of $6.83 and a 1 year high of $13.39. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.81 and a quick ratio of 0.81. The company has a fifty day moving average price of $9.08 and a 200 day moving average price of $9.01.

Crescent Energy (NYSE:CRGY) last posted its earnings results on Wednesday, February 25th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.19. The business had revenue of $865.05 million during the quarter, compared to analyst estimates of $884.64 million. Crescent Energy had a return on equity of 11.77% and a net margin of 0.66%. On average, research analysts expect that Crescent Energy will post 0.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Mizuho raised their target price on shares of Crescent Energy from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Wells Fargo & Company cut their price objective on Crescent Energy from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, January 27th. Jefferies Financial Group reissued a “hold” rating and issued a $9.00 target price on shares of Crescent Energy in a report on Sunday, January 25th. Piper Sandler cut their price target on Crescent Energy from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, November 18th. Finally, Wall Street Zen cut shares of 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, six have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $13.27.

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.