Crescent Energy (CRGY) to Issue Quarterly Dividend of $0.12 on March 26th

Crescent Energy (NYSE:CRGY) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Investors of record on Wednesday, March 12th will be paid a dividend of 0.12 per share on Wednesday, March 26th. This represents a $0.48 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend is Wednesday, March 12th.

Crescent Energy has a payout ratio of 25.1% meaning its dividend is sufficiently covered by earnings. Equities 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

Crescent Energy stock opened at $10.67 on Monday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $2.43 billion, a P/E ratio of 17.20 and a beta of 2.18. The business’s fifty day moving average is $14.79 and its two-hundred day moving average is $13.52. Crescent Energy has a 52 week low of $9.88 and a 52 week high of $16.94.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CRGY. Mizuho increased their target price on Crescent Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Raymond James increased their target price on Crescent Energy from $22.00 to $23.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Truist Financial increased their target price on Crescent Energy from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Stephens reaffirmed an “overweight” rating and set a $17.00 price target on shares of Crescent Energy in a research report on Monday, March 3rd. Finally, Siebert Williams Shank initiated coverage on Crescent Energy in a research report on Monday, February 3rd. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $17.60.

About Crescent Energy

Crescent Energy Company acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. Its portfolio of assets comprises mid-cycle unconventional and conventional assets in the Eagle Ford and Uinta Basins. It also owns and operates various midstream assets, which provide services to customers.