Crescent Energy Company (NYSE:CRGY – Get Free Report) declared a quarterly dividend on Monday, November 2nd. Shareholders of record on Monday, November 16th will be given a dividend of $0.12 per share on Monday, November 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, November 16th.
Crescent Energy has a dividend payout ratio of 31.4% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 5.0%
NYSE:CRGY opened at $13.48 on Tuesday. Crescent Energy has a 12 month low of $7.68 and a 12 month high of $15.47. The firm has a fifty day simple moving average of $13.62 and a 200-day simple moving average of $11.98. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $5.70 billion, a P/E ratio of -269.65 and a beta of 1.60.
Crescent Energy (NYSE:CRGY – Get Free Report) last released its earnings results on Monday, November 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.18. Crescent Energy had a return on equity of 10.52% and a net margin of 1.27%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.24 billion. On average, equities research analysts anticipate that Crescent Energy will post 2.03 earnings per share for the current year.
Analyst Ratings Changes
A number of analysts have commented on the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $16.00 price target on shares of Crescent Energy in a research report on Friday, September 18th. Zacks Research raised Crescent Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Wall Street Zen upgraded Crescent Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 19th. Wells Fargo & Company raised their price objective on Crescent Energy from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, October 12th. Finally, Seaport Research Partners started coverage on Crescent Energy in a report on Thursday, September 3rd. They set a “sell” rating and a $12.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.14.
Read Our Latest Analysis on CRGY
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.
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