Analyst Price Forecast Suggests 30.66% Upside
As of August 31, 2023, the average one-year price target for Crescent Energy Co. – is 16.32. The forecasts range from a low of 12.12 to a high of $21.00. The average price target represents an increase of 30.66% from its latest reported closing price of 12.49.
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The projected annual revenue for Crescent Energy Co. – is 2,641MM, an increase of 0.33%. The projected annual non-GAAP EPS is 3.00.
Crescent Energy Co. – Declares $0.12 Dividend
On August 9, 2023 the company declared a regular quarterly dividend of $0.12 per share ($0.48 annualized). Shareholders of record as of August 23, 2023 received the payment on September 6, 2023. Previously, the company paid $0.12 per share.
At the current share price of $12.49 / share, the stock’s dividend yield is 3.84%.
Looking back five years and taking a sample every week, the average dividend yield has been 5.17%, the lowest has been 2.59%, and the highest has been 8.02%. The standard deviation of yields is 1.25 (n=80).
The current dividend yield is 1.06 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is 0.31. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is -0.09%.
What is the Fund Sentiment?
There are 301 funds or institutions reporting positions in Crescent Energy Co. -. This is an increase of 23 owner(s) or 8.27% in the last quarter. Average portfolio weight of all funds dedicated to CRGY is 0.31%, a decrease of 12.87%. Total shares owned by institutions increased in the last three months by 2.24% to 29,745K shares. The put/call ratio of CRGY is 0.56, indicating a bullish outlook.
What are Other Shareholders Doing?
Goff John C holds 4,685K shares representing 5.29% ownership of the company. No change in the last quarter.
King Luther Capital Management holds 1,241K shares representing 1.40% ownership of the company. In its prior filing, the firm reported owning 1,681K shares, representing a decrease of 35.38%. The firm decreased its portfolio allocation in CRGY by 36.01% over the last quarter.
Hotchkis & Wiley Capital Management holds 1,103K shares representing 1.24% ownership of the company. In its prior filing, the firm reported owning 954K shares, representing an increase of 13.48%. The firm increased its portfolio allocation in CRGY by 2.51% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 1,091K shares representing 1.23% ownership of the company. In its prior filing, the firm reported owning 1,085K shares, representing an increase of 0.60%. The firm decreased its portfolio allocation in CRGY by 14.48% over the last quarter.
NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 999K shares representing 1.13% ownership of the company. In its prior filing, the firm reported owning 1,005K shares, representing a decrease of 0.64%. The firm decreased its portfolio allocation in CRGY by 12.90% over the last quarter.
Crescent Energy Background Information
(This description is provided by the company.)
Crescent Energy is a diversified, well capitalized, U.S. independent energy company with a portfolio of assets in key proven basins across the lower 48 states. Its core leadership team is a group of experienced investment, financial and industry professionals who continue to execute on the strategy we have employed since 2011. The Company’s mission is to invest in energy assets and deliver better returns, operations and stewardship.
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