Crescent Energy Company (NYSE:CRGY) Declares 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% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

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

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CRGY. Osaic Holdings Inc. boosted its position in shares of Crescent Energy by 25.2% in the 2nd quarter. Osaic Holdings Inc. now owns 5,301 shares of the company’s stock worth $46,000 after purchasing an additional 1,066 shares in the last quarter. First Citizens Bank & Trust Co. raised its stake in Crescent Energy by 1.8% during the fourth quarter. First Citizens Bank & Trust Co. now owns 65,241 shares of the company’s stock valued at $547,000 after buying an additional 1,152 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Crescent Energy by 50.2% in the third quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company’s stock worth $33,000 after acquiring an additional 1,241 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of Crescent Energy by 2.0% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 62,706 shares of the company’s stock worth $526,000 after acquiring an additional 1,245 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its holdings in shares of Crescent Energy by 7.5% during the second quarter. Ameritas Investment Partners Inc. now owns 18,272 shares of the company’s stock valued at $157,000 after acquiring an additional 1,269 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.