CVR Energy, Inc. (NYSE:CVI – Get Free Report) announced a quarterly dividend on Monday, July 29th, Zacks reports. Investors 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 annualized dividend and a yield of 7.68%. The ex-dividend date is Monday, August 12th.
CVR Energy has raised its dividend payment by an average of 18.6% per year over the last three years. CVR Energy has a payout ratio of 96.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research 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 NYSE CVI traded up $0.12 during trading on Friday, reaching $26.05. The stock had a trading volume of 1,079,453 shares, compared to its average volume of 1,005,668. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.91 and a current ratio of 1.46. The stock has a market cap of $2.62 billion, a PE ratio of 4.00 and a beta of 1.54. CVR Energy has a one year low of $23.80 and a one year high of $38.63. The firm’s 50 day moving average price is $26.21 and its two-hundred day moving average price is $30.63.
CVR Energy (NYSE:CVI – Get Free Report) last released its earnings results on Monday, July 29th. The oil and gas company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.39. CVR Energy had a net margin of 6.39% and a return on equity of 25.00%. The firm had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the firm earned $1.64 earnings per share. The firm’s revenue for the quarter was down 12.0% compared to the same quarter last year. On average, research analysts forecast that CVR Energy will post 0.25 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of equities analysts have commented on CVI shares. UBS Group decreased their target price on CVR Energy from $37.00 to $33.75 and set a “neutral” rating for the company in a research note on Tuesday, May 14th. Scotiabank upped their price target on shares of CVR Energy from $24.00 to $25.00 and gave the stock a “sector underperform” rating in a research report on Wednesday, July 31st. Mizuho assumed coverage on shares of CVR Energy in a research note on Wednesday, July 17th. They issued a “neutral” rating and a $27.00 price target on the stock. StockNews.com lowered CVR Energy from a “buy” rating to a “hold” rating in a report on Sunday, June 16th. Finally, JPMorgan Chase & Co. cut their price objective on shares of CVR Energy from $30.00 to $26.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 2nd. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $28.55.
Check Out Our Latest Stock Analysis on CVR Energy
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.
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