CVR Energy, Inc. (CVI) To Go Ex-Dividend on May 10th

CVR Energy, Inc. (NYSE:CVI) announced a quarterly dividend on Monday, April 29th, NASDAQ reports. Stockholders of record on Monday, May 13th will be paid 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 6.84%. The ex-dividend date of this dividend is Friday, May 10th.

CVR Energy has raised its dividend payment 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 payout ratio of 82.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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 Price Performance

Shares of CVR Energy stock opened at $29.23 on Wednesday. The firm has a fifty day simple moving average of $33.97 and a 200-day simple moving average of $32.68. 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 1-year low of $22.60 and a 1-year high of $39.36. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 4.48 and a beta of 1.59.

CVR Energy (NYSE:CVI) last announced 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 return on equity of 40.14% and a net margin of 7.44%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same period last year, the firm posted $1.44 EPS. The company’s revenue was down 18.5% compared to the same quarter last year. On average, sell-side analysts expect that CVR Energy will post 2.4 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on CVI. StockNews.com raised shares of CVR Energy from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Scotiabank boosted their target price 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.

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.