CVR Energy Inc. (NYSE:CVI) Plans $0.37 Quarterly Dividend

CVR Energy Inc. (NYSE:CVI) declared a quarterly dividend on Wednesday, February 18th. Investors of record on Monday, March 2nd will be paid a dividend of 0.37 per share by the oil and gas company on Monday, March 9th. This represents a c) annualized dividend and a yield of 7.2%. The ex-dividend date of this dividend is Monday, March 2nd.

CVR Energy has decreased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. CVR Energy has a dividend payout ratio of 679.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect CVR Energy to earn $1.45 per share next year, which means the company may not be able to cover its $9.04 annual dividend with an expected future payout ratio of 623.4%.

CVR Energy Price Performance

Shares of CVI traded down $0.89 on Friday, reaching $20.70. 2,840,930 shares of the company’s stock traded hands, compared to its average volume of 1,083,583. CVR Energy has a 52-week low of $15.10 and a 52-week high of $41.67. The stock’s 50 day simple moving average is $24.62 and its two-hundred day simple moving average is $30.29. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.28 and a current ratio of 1.79.

CVR Energy (NYSE:CVI) last announced its quarterly earnings data on Wednesday, February 18th. The oil and gas company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($0.84) by $0.04. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.70 billion. CVR Energy had a negative return on equity of 14.31% and a net margin of 0.38%.The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.13) EPS. As a group, equities analysts expect that CVR Energy will post -0.12 earnings per share for the current year.

About CVR Energy

CVR Energy, Inc is an independent downstream energy company engaged primarily in petroleum refining and nitrogen fertilizer production in the United States. Headquartered in Sugar Land, Texas, CVR Energy operates through two reportable segments—Petroleum Products and Nitrogen Fertilizers—leveraging its refining expertise and distribution network to serve both wholesale and retail markets across key regions in the U.S.

In its Petroleum Products segment, the company owns and operates the Coffeyville, Kansas refinery, which has the capability to process various grades of crude oil into gasoline, diesel, jet fuel and other refined products.