Crescent Energy Company (CRGY) to Issue Quarterly Dividend of $0.12 on November 30th

Crescent Energy Company (NYSE:CRGY) declared a quarterly dividend on Monday, November 2nd. Investors of record on Monday, November 16th will be paid a dividend of $0.12 per share on Monday, November 30th. This represents a $0.48 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Monday, November 16th.

Crescent Energy has a dividend payout ratio of 31.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Crescent Energy to earn $2.74 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 17.5%.

Crescent Energy Stock Performance

CRGY stock opened at $13.01 on Wednesday. The stock’s 50 day simple moving average is $13.60 and its 200 day simple moving average is $12.01. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.00. Crescent Energy has a 12-month low of $7.68 and a 12-month high of $15.47. The stock has a market capitalization of $5.49 billion, a PE ratio of -649.93 and a beta of 1.71.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Monday, November 2nd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.59 by $0.18. Crescent Energy had a return on equity of 13.51% and a net margin of 1.30%. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.24 billion. As a group, research analysts forecast that Crescent Energy will post 2.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CRGY has been the topic of several analyst reports. Truist Financial began coverage on shares of Crescent Energy in a research note on Thursday, September 17th. They set a “buy” rating and a $19.00 price target on the stock. Wall Street Zen raised Crescent Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 19th. UBS Group decreased their price objective on Crescent Energy from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. Seaport Research Partners began coverage on Crescent Energy in a research note on Thursday, September 3rd. They set a “sell” rating and a $12.00 price objective for the company. Finally, Stephens increased their target price on shares of Crescent Energy from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Crescent Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.14.

Crescent Energy Company Profile

Crescent Energy Company is an independent energy company focused on the acquisition, development and operation of oil and natural gas properties in the United States. Its activities include exploration and production, well development, production optimization and management of mature and unconventional oil and gas assets.

The company’s portfolio is concentrated in onshore U.S. basins, including the Eagle Ford in South Texas and the Uinta Basin in Utah, along with other producing properties.