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

Key Points

• Crescent Energy declared a quarterly dividend of $0.12 per share, payable August 31 to shareholders of record August 17. The payment implies a $0.48 annual dividend and a 4.2% yield.
• The dividend appears well covered, with a current payout ratio of 31.4% and an expected future payout ratio of 27.4% based on projected earnings.
• Crescent Energy beat quarterly earnings and revenue expectations, reporting $0.69 in EPS and $1.39 billion in revenue, up 55.3% year over year. Analysts maintain a “Moderate Buy” consensus rating with a $15.67 average price target.

Crescent Energy Company (NYSE:CRGY - Get Free Report) declared a quarterly dividend on Monday, August 3rd. Stockholders 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 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 market cap of $3.77 billion, a price-to-earnings ratio of -15.24 and a beta of 1.41. 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 stock has a 50-day moving average price of $10.77 and a two-hundred day moving average price of $11.33. Crescent Energy has a 12 month low of $7.68 and a 12 month high of $14.29.

Crescent Energy (NYSE:CRGY - Get Free Report) last posted 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. Crescent Energy had a negative net margin of 7.47% and a positive return on equity of 8.10%. The firm had revenue of $1.39 billion for the quarter, compared to analysts' expectations of $1.26 billion. The company's revenue was up 55.3% on a year-over-year basis. As a group, analysts forecast that Crescent Energy will post 1.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. UBS Group began coverage on shares of Crescent Energy in a report on Tuesday, July 14th. They set a "buy" rating and a $13.00 price target on the stock. Wells Fargo & Company raised their price objective on shares of Crescent Energy from $14.00 to $18.00 and gave the stock an "overweight" rating in a research report on Thursday, April 23rd. Mizuho upgraded Crescent Energy to a "hold" rating in a research note on Friday. Stephens restated an "overweight" rating and set a $18.00 price target on shares of Crescent Energy in a research note on Tuesday, May 5th. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $19.00 price objective on shares of Crescent Energy in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Crescent Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.67.

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.

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