CVR Energy Inc. (NYSE:CVI) Shares Will Pay Quarterly Dividend of $0.10

CVR Energy Inc. (NYSE:CVI) announced a quarterly dividend on Tuesday, November 3rd. Shareholders of record on Monday, November 16th will be given a dividend of $0.10 per share by the oil and gas company on Monday, November 23rd. This represents a $0.40 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, November 16th.

CVR Energy has decreased its dividend payment by an average of 1.0% 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 30.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect CVR Energy to earn $4.91 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 8.1%.

CVR Energy Stock Performance

Shares of CVR Energy stock opened at $48.71 on Wednesday. CVR Energy has a 52 week low of $19.62 and a 52 week high of $63.51. The business’s fifty day simple moving average is $52.84 and its 200-day simple moving average is $35.88. The firm has a market cap of $4.90 billion, a PE ratio of 71.63 and a beta of 0.85. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 2.38.

CVR Energy (NYSE:CVI) last issued its quarterly earnings data on Tuesday, November 3rd. The oil and gas company reported $4.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.91 by $1.09. CVR Energy had a negative return on equity of 15.21% and a net margin of 0.81%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the company earned $0.40 EPS. The company’s quarterly revenue was up 68.8% on a year-over-year basis. Equities analysts forecast that CVR Energy will post 4.20 earnings per share for the current year.

Key CVR Energy News

Here are the key news stories impacting CVR Energy this week:

• Positive Sentiment: CVR reported third-quarter earnings of $4.00 per share, beating estimates, while revenue rose 68.8% year over year to $3.28 billion. The results provide evidence of strong recent operating performance. Article: CVR Energy Q3 Earnings and Revenues Beat Estimates
• Positive Sentiment: The planned purchase of Marathon Petroleum’s St. Paul Park and Mandan refineries would expand CVR’s refining footprint. Trafigura has also signed an agreement to support the acquisition. Article: Trafigura signs agreement to support acquisition
• Neutral Sentiment: CVR declared a quarterly dividend of $0.10 per share, payable November 23 to shareholders of record November 16. Article: CVR Energy quarterly dividend announcement
• Negative Sentiment: The approximately $4.2 billion refinery deal is a major capital commitment and raises questions about financing and execution. CVR priced an offering of 10.5 million shares at $47.55, raising about $500 million, with an option for underwriters to buy more shares. The resulting dilution likely weighed on the stock, alongside concerns about taking on a sizable acquisition. Article: CVR Energy prices common stock offering

CVR Energy Company Profile

CVR Energy, Inc (NYSE:CVI) is a diversified energy company engaged primarily in petroleum refining and nitrogen fertilizer production. Through its refining operations, the company processes crude oil into transportation fuels and other refined products, including gasoline, diesel fuel, jet fuel and asphalt.

CVR Energy operates refineries in Coffeyville, Kansas, and Wynnewood, Oklahoma. The facilities primarily serve customers in the Midcontinent region of the United States and are supported by related logistics and distribution assets.