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

Crescent Energy Company (NYSE:CRGY) announced a quarterly dividend on Monday, August 3rd. Investors of record on Monday, August 17th will be given a dividend of 0.12 per share on Monday, August 31st. This represents a c) annualized dividend and a 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% indicating that its dividend is sufficiently covered by earnings. Research 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%

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

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings results on Monday, August 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.10. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.26 billion. Crescent Energy had a negative net margin of 7.47% and a positive return on equity of 8.10%. The business’s quarterly revenue was up 55.3% compared to the same quarter last year. On average, equities research analysts expect that Crescent Energy will post 1.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CRGY. Jennison Associates LLC increased its stake in shares of Crescent Energy by 74.1% during the first quarter. Jennison Associates LLC now owns 4,254,407 shares of the company’s stock valued at $57,435,000 after purchasing 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% in 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 purchasing an additional 1,897,230 shares during the last quarter. Wolverine Asset Management LLC purchased a new position in Crescent Energy in the 4th quarter worth about $860,000. Legal & General Group Plc lifted its position in Crescent Energy by 27.5% during the fourth quarter. Legal & General Group Plc now owns 585,827 shares of the company’s stock valued at $4,915,000 after purchasing an additional 126,330 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Crescent Energy by 34.6% during the 4th quarter. Vanguard Group Inc. now owns 27,292,081 shares of the company’s stock valued at $228,981,000 after buying an additional 7,015,982 shares during the period. Hedge funds and other institutional investors own 52.11% of the company’s stock.

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.