CVR Energy, Inc. (CVI) to Issue Quarterly Dividend of $0.50 on May 20th

CVR Energy, Inc. (NYSE:CVI) announced a quarterly dividend on Monday, April 29th, NASDAQ reports. Investors of record on Monday, May 13th will be given a dividend of 0.50 per share by the oil and gas company on Monday, May 20th. This represents a $2.00 dividend on an annualized basis and a yield of 6.59%. The ex-dividend date of this dividend is Friday, May 10th.

CVR Energy has raised its dividend payment by an average of 18.6% per year over the last three years and has raised its dividend every year for the last 1 years. CVR Energy has a payout ratio of 82.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect CVR Energy to earn $2.67 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 74.9%.

CVR Energy Stock Performance

NYSE CVI opened at $30.33 on Wednesday. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 4.65 and a beta of 1.57. The company has a quick ratio of 0.94, a current ratio of 1.30 and a debt-to-equity ratio of 1.52. The business has a 50-day moving average price of $34.44 and a 200-day moving average price of $32.80. CVR Energy has a twelve month low of $22.60 and a twelve month high of $39.36.

CVR Energy (NYSE:CVI) last released its quarterly earnings data on Monday, April 29th. The oil and gas company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.09). CVR Energy had a return on equity of 40.24% and a net margin of 7.44%. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period last year, the company earned $1.44 EPS. The business’s revenue was down 18.5% on a year-over-year basis. As a group, equities research analysts predict that CVR Energy will post 2.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CVI has been the subject of a number of research reports. StockNews.com lowered CVR Energy from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Scotiabank increased their price target on CVR Energy from $25.00 to $29.00 and gave the company a “sector underperform” rating in a research note on Thursday, April 11th.

About CVR Energy

CVR Energy, Inc, together with its subsidiaries, engages in the petroleum refining and marketing, and nitrogen fertilizer manufacturing activities in the United States. It operates in two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment refines and supplies gasoline, crude oil, distillate, diesel fuel, and other refined products.