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

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 dividend yield of 6.81%. The ex-dividend date is Friday, May 10th.

CVR Energy has raised 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 88.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities 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 Stock Performance

NYSE CVI opened at $29.39 on Thursday. The firm has a market capitalization of $2.95 billion, a P/E ratio of 4.51 and a beta of 1.59. The company has a current ratio of 1.49, a quick ratio of 0.91 and a debt-to-equity ratio of 1.48. The firm’s fifty day moving average price is $33.91 and its two-hundred day moving average price is $32.66. CVR Energy has a 1 year low of $22.60 and a 1 year high of $39.36.

CVR Energy (NYSE:CVI) last issued its earnings results on Monday, April 29th. The oil and gas company reported $0.04 earnings per share (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 period in the previous year, the company posted $1.44 earnings per share. The firm’s revenue for the quarter was down 18.5% compared to the same quarter last year. As a group, research analysts anticipate that CVR Energy will post 2.4 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CVI. StockNews.com raised CVR Energy from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Scotiabank lifted their price objective on shares of CVR Energy from $25.00 to $29.00 and gave the stock a “sector underperform” rating in a research report on Thursday, April 11th.

About CVR Energy

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.