Crescent Energy Company (CRGY) To Go Ex-Dividend on May 18th

Crescent Energy Company (NYSE:CRGY) declared a quarterly dividend on Monday, May 4th. Stockholders of record on Monday, May 18th will be given a dividend of 0.12 per share on Monday, June 1st. This represents a c) annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Monday, May 18th.

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 $1.86 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 25.8%.

Crescent Energy Stock Performance

Crescent Energy stock opened at $13.03 on Friday. The business has a 50 day moving average of $12.70 and a 200-day moving average of $10.41. Crescent Energy has a 1 year low of $7.68 and a 1 year high of $14.29. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.57 and a quick ratio of 0.57. The company has a market capitalization of $4.30 billion, a P/E ratio of -17.37 and a beta of 1.44.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Monday, May 4th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.14. Crescent Energy had a positive return on equity of 8.10% and a negative net margin of 7.47%.The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the firm posted $0.57 earnings per share. The firm’s revenue was up 24.5% compared to the same quarter last year. On average, equities research analysts predict that Crescent Energy will post 1.84 earnings per share for the current year.

Wall Street Analyst Weigh In

CRGY has been the subject of several recent research reports. Stephens reaffirmed an “overweight” rating and issued a $18.00 price objective on shares of Crescent Energy in a research note on Tuesday, May 5th. Wells Fargo & Company upped their price objective on Crescent Energy from $14.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Zacks Research raised Crescent Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 3rd. JPMorgan Chase & Co. raised Crescent Energy from a “neutral” rating to an “overweight” rating and set a $19.00 price objective for the company in a research note on Friday, March 20th. Finally, Johnson Rice reissued an “accumulate” rating and set a $19.00 target price on shares of Crescent Energy in a research report on Wednesday, March 25th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.73.

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.