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

Crescent Energy Company (NYSE:CRGY) declared a quarterly dividend on Monday, August 3rd. Shareholders of record on Monday, August 17th will be given a dividend of 0.12 per share on Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Monday, August 17th.

Crescent Energy has a dividend payout ratio of 31.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Crescent Energy to earn $1.75 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 27.4%.

Crescent Energy Stock Down 0.3%

Shares of NYSE:CRGY opened at $11.43 on Tuesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.57 and a quick ratio of 0.57. Crescent Energy has a 1 year low of $7.68 and a 1 year high of $14.29. The company has a market cap of $3.77 billion, a PE ratio of -15.24 and a beta of 1.41. The stock’s 50-day moving average is $10.77 and its 200 day moving average is $11.33.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. Crescent Energy had a positive return on equity of 8.10% and a negative net margin of 7.47%.The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.26 billion. The company’s revenue was up 55.3% compared to the same quarter last year. Sell-side analysts anticipate that Crescent Energy will post 1.78 EPS for the current year.

Institutional Trading of Crescent Energy

Several hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC grew its stake in Crescent Energy by 74.1% in the 1st quarter. Jennison Associates LLC now owns 4,254,407 shares of the company’s stock worth $57,435,000 after acquiring an additional 1,810,225 shares in the last quarter. Kohlberg Kravis Roberts & Co. L.P. raised its stake in shares of Crescent Energy by 7.1% during the 1st 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. Wolverine Asset Management LLC acquired a new position in shares of Crescent Energy during the fourth quarter worth $860,000. Legal & General Group Plc increased its position in Crescent Energy by 27.5% during the 4th quarter. Legal & General Group Plc now owns 585,827 shares of the company’s stock valued at $4,915,000 after buying an additional 126,330 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake 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 purchasing an additional 7,015,982 shares in the last quarter. Hedge funds and other institutional investors own 52.11% of the company’s stock.

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.