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

CVR Energy, Inc. (NYSE:CVI) announced a quarterly dividend on Monday, April 29th, NASDAQ reports. Shareholders 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 increased its dividend by an average of 18.6% per year 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% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research 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 Down 8.4 %

CVR Energy stock traded down $2.79 during midday trading on Tuesday, reaching $30.33. The company’s stock had a trading volume of 2,048,325 shares, compared to its average volume of 898,472. CVR Energy has a fifty-two week low of $22.60 and a fifty-two week high of $39.36. 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 company has a market cap of $3.05 billion, a P/E ratio of 4.01 and a beta of 1.57. The business has a 50-day simple moving average of $34.44 and a 200-day simple moving average of $32.80.

CVR Energy (NYSE:CVI) last issued its quarterly earnings data 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). The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.96 billion. CVR Energy had a return on equity of 55.17% and a net margin of 8.32%. The business’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.44 EPS. On average, research analysts expect that CVR Energy will post 2.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CVI shares. StockNews.com lowered CVR Energy from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Scotiabank raised their price objective on CVR Energy from $25.00 to $29.00 and gave the stock a “sector underperform” rating in a report on Thursday, April 11th.

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.