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

CVR Energy, Inc. (NYSE:CVI) declared a quarterly dividend on Monday, April 29th, NASDAQ reports. Stockholders 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 dividend yield of 6.81%. The ex-dividend date is Friday, May 10th.

CVR Energy has increased its dividend payment 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 dividend payout ratio of 88.1% meaning 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 $2.65 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 75.5%.

CVR Energy Price Performance

CVI stock opened at $29.39 on Thursday. The firm has a 50 day moving average of $33.91 and a 200-day moving average of $32.66. The company has a current ratio of 1.49, a quick ratio of 0.91 and a debt-to-equity ratio of 1.48. CVR Energy has a 12 month low of $22.60 and a 12 month high of $39.36. The firm has a market capitalization of $2.95 billion, a P/E ratio of 4.51 and a beta of 1.59.

CVR Energy (NYSE:CVI) last released its quarterly earnings data on Monday, April 29th. The oil and gas company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.09). CVR Energy had a net margin of 7.44% and a return on equity of 40.14%. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the business posted $1.44 earnings per share. CVR Energy’s revenue was down 18.5% compared to the same quarter last year. As a group, sell-side analysts predict that CVR Energy will post 2.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CVI has been the topic of a number of recent analyst reports. StockNews.com raised shares of CVR Energy from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Scotiabank raised their target price 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.

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.