Crescent Energy Company (CRGY) to Distribute Quarterly Dividend of $0.12 on August 31st

Crescent Energy Company (NYSE:CRGY) announced a quarterly dividend on Monday, August 3rd. Investors of record on Monday, August 17th will be paid a dividend of 0.12 per share on Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 3.9%. 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. Equities research analysts expect Crescent Energy to earn $1.91 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 25.1%.

Crescent Energy Trading Up 2.5%

NYSE CRGY opened at $12.20 on Friday. Crescent Energy has a 12 month low of $7.68 and a 12 month high of $14.29. The company has a 50-day moving average of $10.74 and a 200-day moving average of $11.51. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $4.03 billion, a P/E ratio of -243.85 and a beta of 1.41.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Crescent Energy had a return on equity of 10.52% and a net margin of 1.27%.The business’s revenue for the quarter was up 55.3% on a year-over-year basis. As a group, equities analysts predict that Crescent Energy will post 2.07 earnings per share for the current year.

Institutional Trading of Crescent Energy

A number of hedge funds and other institutional investors have recently modified their holdings of CRGY. Royal Bank of Canada grew its position in Crescent Energy by 16.1% in the first quarter. Royal Bank of Canada now owns 58,900 shares of the company’s stock worth $662,000 after acquiring an additional 8,173 shares in the last quarter. AQR Capital Management LLC boosted its stake in Crescent Energy by 8.9% in the 1st quarter. AQR Capital Management LLC now owns 17,104 shares of the company’s stock worth $192,000 after purchasing an additional 1,397 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Crescent Energy by 6.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,670 shares of the company’s stock worth $1,109,000 after acquiring an additional 6,184 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Crescent Energy by 42.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,969,411 shares of the company’s stock valued at $44,616,000 after buying an additional 1,174,576 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Crescent Energy by 32.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 244,456 shares of the company’s stock worth $2,748,000 after purchasing an additional 59,199 shares during the last quarter. 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.