CVR Energy, Inc. (NYSE:CVI) Declares Quarterly Dividend of $0.50

CVR Energy, Inc. (NYSE:CVI) declared 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 annualized dividend 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% annually over the last three years and has increased 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 fall. 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 Price Performance

Shares of NYSE CVI traded down $2.79 during midday trading on Tuesday, hitting $30.33. 2,048,325 shares of the company’s stock were exchanged, compared to its average volume of 898,472. CVR Energy has a 12-month low of $22.60 and a 12-month high of $39.36. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 4.01 and a beta of 1.57. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 1.52. The business’s fifty day moving average price is $34.44 and its two-hundred day moving average price is $32.80.

CVR Energy (NYSE:CVI) last announced its earnings results on Monday, April 29th. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.09). CVR Energy had a return on equity of 55.17% and a net margin of 8.32%. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter last year, the firm posted $1.44 earnings per share. The firm’s revenue was down 18.5% on a year-over-year basis. As a group, research analysts forecast that CVR Energy will post 2.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

CVR Energy Company Profile

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.