5 Dividend Stocks For Beginners

4. Crescent Energy Company (NYSE:CRGY)

Dividend Yield as of May 6: 2.85%

Number of Hedge Fund Holders: 5

Crescent Energy Company (NYSE:CRGY) was founded in 2020 and is based in Houston, Texas, operating as a provider of crude oil, natural gas, and natural gas liquids. Priced at $16.86, Crescent Energy Company (NYSE:CRGY) offers a dividend yield of 2.85% as of May 6, which merits its inclusion in out list of the top dividend stocks for beginners. 

On March 10, Crescent Energy Company (NYSE:CRGY) declared a quarterly dividend of $0.12 per share. The dividend was distributed on March 31, for shareholders of record on March 18. The company also announced a full-year revenue of $1.48 billion for 2021, up 96.2% year-over-year. Crescent Energy Company (NYSE:CRGY) expects to activate 32 to 38 wells in the Eagle Ford in 2022, with more than 90% average working interest. The company guided for levered free cash flow of $325 million to $375 million this year.

Truist analyst Neal Dingmann on April 8 initiated coverage of Crescent Energy Company (NYSE:CRGY) with a Buy rating and a $24 price target. The analyst remains positive on Crescent Energy Company (NYSE:CRGY)’s “diversified” asset base and “stable” production and cash flow, along with a “notable accretive” acquisition history. The company has already raised its dividend to nearly 4% in the short time since its reverse merger, and given its robust free cash flows, the yield could increase further, the analyst told investors in a bullish thesis.

Among the hedge funds tracked by Insider Monkey, 5 funds were long Crescent Energy Company (NYSE:CRGY) in the fourth quarter of 2021, with collective stakes worth over $5 million.