Crescent Energy Company Stock Price, News & Analysis

Crescent Energy Company (NYSE: CRGY) will participate in the BofA Global Energy Conference in Miami, Florida on November 17, 2022. The slide presentation will be accessible on their website. Crescent is a financially robust U.S. independent energy company, with assets in key basins nationwide and strong cash flow from predictable production. The leadership team has been executing strategic management since 2011, focusing on enhancing returns and stewardship in energy asset investments.

Crescent Energy Company (NYSE: CRGY) announced a quarterly cash dividend of $0.17 per share and reported strong third quarter 2022 results. Production reached 150 MBoe/d, a 6% increase from the previous quarter. The company recorded $555 million in net income and $359 million in Adjusted EBITDAX. Capital investments amounted to $190 million. Crescent reaffirmed its full-year guidance while managing costs effectively, despite inflationary pressures. The company is approximately 60% hedged for the remainder of the year, ensuring stable returns.

Crescent Energy Company (NYSE: CRGY) will hold a conference call and webcast at 10 a.m. CT on November 10, 2022, to discuss its third quarter 2022 financial and operating results. The earnings release will be available after market close on November 9, 2022. Investors can access the results and presentation on the company's website. The company emphasizes its strong assets and cash flow.

Crescent Energy Company (NYSE: CRGY) announced significant amendments to its revolving credit facility, effective September 23, 2022. The borrowing base was increased by 11% to $2.0 billion, and the credit facility's term was extended by 28 months, now maturing in September 2027. Total liquidity as of August 31, 2022 reached over $600 million. The recent public equity offerings raised $86 million, increasing the public equity float by 15% and showcasing strong market confidence.

Crescent Energy Company (NYSE: CRGY) has priced a public offering of 5,000,000 shares of Class A common stock at $15.00 per share. The offering, managed by major underwriters including Credit Suisse and Wells Fargo, will not generate proceeds for the Company as the shares are sold by a selling stockholder. There is also a 30-day option for underwriters to acquire an additional 750,000 shares. Concurrently, Crescent will purchase 2,233,727 units of its subsidiary at the offering price and cancel an equal number of Class B shares. The offering is expected to close on September 13, 2022.

Crescent Energy Company (NYSE: CRGY) has initiated an underwritten public offering of 5,000,000 shares of its Class A common stock, valued at $0.0001 per share. This offering is managed by Independence Energy Aggregator L.P. Credit Suisse, KKR Capital Markets, Wells Fargo, J.P. Morgan, BofA Securities, RBC Capital Markets, and Truist Securities act as joint book-running managers. The company will not receive any proceeds from this offering. Following this, Crescent intends to purchase 2,233,727 OpCo Units from PT Independence at the same price as the stock offering and cancel a corresponding number of Class B shares.

Crescent Energy Company (NYSE: CRGY) announced a cash dividend of $0.17 per share, reflecting its commitment to returning value to shareholders. In the second quarter of 2022, Crescent reported a robust production increase of 18% to 142 MBoe/d, primarily due to the Uinta acquisition. The company achieved net income of $282 million, a 92% increase in Adjusted EBITDAX to $373 million, and $137 million of Levered Free Cash Flow. Despite industry challenges, Crescent plans to maintain a quarterly dividend through 2022, emphasizing its strong financial position with a Net LTM Leverage ratio of 1.2x.

Crescent Energy Company (NYSE: CRGY) will host a conference call and webcast to discuss its Q2 2022 financial results on August 10, 2022, at 10 a.m. CT. The earnings release will be available after market close on August 9, 2022. Investors can access the webcast via the company's website. Crescent Energy focuses on energy asset investment and aims to deliver strong returns through its experienced leadership team, emphasizing predictable production and substantial cash flow.