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

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 annualized dividend and a dividend 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 annually for the last 1 consecutive years. CVR Energy has a dividend 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 fall. 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 Performance

Shares of NYSE CVI traded down $2.79 during midday trading on Tuesday, hitting $30.33. 2,048,325 shares of the company’s stock were exchanged, compared to its average volume of 898,472. CVR Energy has a twelve month low of $22.60 and a twelve month high of $39.36. The stock’s 50 day moving average price is $34.44 and its 200-day moving average price is $32.80. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.30 and a quick ratio of 0.94. The firm has a market cap of $3.05 billion, a P/E ratio of 4.01 and a beta of 1.57.

CVR Energy (NYSE:CVI) last announced its earnings results on Monday, April 29th. The oil and gas company reported $0.04 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 the consensus estimate of $1.96 billion. CVR Energy had a return on equity of 55.17% and a net margin of 8.32%. CVR Energy’s revenue for the quarter was down 18.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.44 EPS. Equities research analysts anticipate that CVR Energy will post 2.73 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CVI. StockNews.com cut CVR Energy from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Scotiabank boosted 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.

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.