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

Crescent Energy Company (NYSE:CRGY) declared a quarterly dividend on Wednesday, February 25th. Stockholders of record on Wednesday, March 11th will be paid a dividend of 0.12 per share on Wednesday, March 25th. This represents a c) annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Wednesday, March 11th.

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 $2.21 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 21.7%.

Crescent Energy Stock Up 3.6%

Shares of NYSE CRGY traded up $0.38 during midday trading on Thursday, hitting $10.69. The stock had a trading volume of 4,397,860 shares, compared to its average volume of 5,845,468. The company has a market cap of $2.72 billion, a P/E ratio of -71.43 and a beta of 1.73. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average is $9.08 and its 200-day moving average is $9.01. Crescent Energy has a 52 week low of $6.83 and a 52 week high of $13.39.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.19. Crescent Energy had a return on equity of 11.77% and a net margin of 0.66%.The business had revenue of $865.05 million for the quarter, compared to analysts’ expectations of $884.64 million. As a group, analysts predict that Crescent Energy will post 0.77 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MidFirst Bank purchased a new position in Crescent Energy during the 4th quarter valued at approximately $232,000. Sunbelt Securities Inc. boosted its position in shares of Crescent Energy by 9.7% during the 4th quarter. Sunbelt Securities Inc. now owns 150,343 shares of the company’s stock valued at $1,261,000 after acquiring an additional 13,344 shares during the last quarter. Invesco Ltd. boosted its position in shares of Crescent Energy by 38.8% during the 4th quarter. Invesco Ltd. now owns 2,260,663 shares of the company’s stock valued at $18,967,000 after acquiring an additional 632,147 shares during the last quarter. Corient Private Wealth LLC increased its position in Crescent Energy by 62.6% in the fourth quarter. Corient Private Wealth LLC now owns 28,731 shares of the company’s stock worth $241,000 after purchasing an additional 11,063 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its stake in Crescent Energy by 79.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 26,096 shares of the company’s stock valued at $219,000 after purchasing an additional 11,594 shares in the last quarter. 52.11% of the stock is currently owned by institutional investors.

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.