Crescent Energy (NYSE:CRGY) Raises Dividend to $0.17 Per Share

Crescent Energy (NYSE:CRGY – Get Rating) announced a quarterly dividend on Thursday, May 12th, Wall Street Journal reports. Shareholders of record on Tuesday, May 24th will be paid a dividend of 0.17 per share on Tuesday, June 7th. This represents a $0.68 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Monday, May 23rd. This is a boost from Crescent Energy’s previous quarterly dividend of $0.12.

Shares of NYSE:CRGY opened at $16.72 on Friday. The company has a debt-to-equity ratio of 3.77, a current ratio of 0.53 and a quick ratio of 0.53. Crescent Energy has a 52 week low of $11.90 and a 52 week high of $19.65. The company has a market capitalization of $2.83 billion, a P/E ratio of 97.88 and a beta of 2.52. The firm has a 50 day moving average price of $17.08.

Separately, Truist Financial started coverage on Crescent Energy in a research report on Friday, April 8th. They set a “buy” rating and a $25.00 price target for the company.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its stake in Crescent Energy by 2.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 75,982 shares of the company’s stock worth $1,318,000 after buying an additional 1,945 shares during the last quarter. Swiss National Bank lifted its stake in shares of Crescent Energy by 8.5% in the 1st quarter. Swiss National Bank now owns 52,380 shares of the company’s stock valued at $908,000 after purchasing an additional 4,100 shares during the last quarter. MetLife Investment Management LLC lifted its stake in shares of Crescent Energy by 51.5% in the 1st quarter. MetLife Investment Management LLC now owns 18,734 shares of the company’s stock valued at $325,000 after purchasing an additional 6,371 shares during the last quarter. Metropolitan Life Insurance Co NY acquired a new position in shares of Crescent Energy in the 4th quarter valued at $110,000. Finally, Salem Investment Counselors Inc. acquired a new position in shares of Crescent Energy in the 1st quarter valued at $173,000. 25.92% of the stock is currently owned by institutional investors.

Crescent Energy Company Profile (Get Rating)

Crescent Energy Company, an energy company, explores for, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. The company holds a portfolio of oil and natural gas assets in key proven basins, including the Eagle Ford, Rockies, Barnett, Permian, Mid-Con, and other basins in the United States.

Read More