Crescent Energy (CRGY) To Go Ex-Dividend on March 12th

Crescent Energy (NYSE:CRGY) declared 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 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date is Wednesday, March 12th.

Crescent Energy has a dividend payout ratio of 23.6% meaning 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 Trading Down 5.2 %

NYSE:CRGY opened at $12.77 on Friday. The stock has a fifty day simple moving average of $15.08 and a 200 day simple moving average of $13.48. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 20.59 and a beta of 2.16. Crescent Energy has a 1-year low of $9.88 and a 1-year high of $16.94. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Truist Financial lifted their target price on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Raymond James lifted their price objective on shares of Crescent Energy from $22.00 to $23.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. Mizuho increased their target price on Crescent Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Finally, Siebert Williams Shank began coverage on Crescent Energy in a report on Monday, February 3rd. They set a “buy” rating on the stock. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $17.50.

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.