Cash Flow And DividendsCRGY trades at an EV/EBITDA discount with a top-quartile FCF yield in its peer group and material NAV upside.
Financial PerformanceCRGY will boost FCF from the acquired assets, resulting in generally accretive metrics with pro forma leverage staying below its 1.5x net-debt/EBITDA target.
Mergers And AcquisitionsCrescent announced the acquisition of struggling public E&P Vital Energy for a 20% premium, adding approximately 267,000 acres and 138 MBoepd (45% oil), granting Crescent a solid Permian foothold.