CVR Energy, Inc. (CVI) to Issue Quarterly Dividend of $0.50 on August 19th

CVR Energy, Inc. (NYSE:CVI) announced a quarterly dividend on Monday, July 29th, Zacks reports. Stockholders of record on Monday, August 12th will be paid a dividend of 0.50 per share by the oil and gas company on Monday, August 19th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.84%. The ex-dividend date is Monday, August 12th.

CVR Energy has increased its dividend payment by an average of 18.6% per year over the last three years. CVR Energy has a payout ratio of 115.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect CVR Energy to earn $2.10 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 95.2%.

CVR Energy Stock Performance

Shares of CVI traded up $0.52 during mid-day trading on Wednesday, reaching $29.25. The company had a trading volume of 166,610 shares, compared to its average volume of 974,977. CVR Energy has a 52-week low of $23.93 and a 52-week high of $39.36. The company has a quick ratio of 0.91, a current ratio of 1.49 and a debt-to-equity ratio of 1.48. The stock has a market capitalization of $2.94 billion, a P/E ratio of 4.44 and a beta of 1.54. The stock has a 50 day moving average of $26.68 and a two-hundred day moving average of $30.86.

CVR Energy (NYSE:CVI) last released its quarterly earnings results on Monday, July 29th. The oil and gas company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.39. The company had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.80 billion. CVR Energy had a return on equity of 24.74% and a net margin of 6.39%. CVR Energy’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.64 EPS. On average, analysts expect that CVR Energy will post 0.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CVI has been the subject of a number of analyst reports. Mizuho initiated coverage on CVR Energy in a report on Wednesday, July 17th. They issued a “neutral” rating and a $27.00 price target for the company. Scotiabank lowered their price target on CVR Energy from $29.00 to $24.00 and set a “sector underperform” rating for the company in a research report on Friday, July 12th. UBS Group lowered their price target on CVR Energy from $37.00 to $33.75 and set a “neutral” rating for the company in a research report on Tuesday, May 14th. JPMorgan Chase & Co. cut their price target on CVR Energy from $30.00 to $26.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 2nd. Finally, StockNews.com cut CVR Energy from a “buy” rating to a “hold” rating in a research report on Sunday, June 16th. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $28.35.

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.