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

CVR Energy Inc. (NYSE:CVI) declared a quarterly dividend on Wednesday, July 29th. Investors of record on Monday, August 10th will be given a dividend of 0.10 per share by the oil and gas company on Monday, August 17th. This represents a c) annualized dividend and a yield of 1.0%. The ex-dividend date is Monday, August 10th.

CVR Energy has decreased its dividend by an average of 1.0%annually over the last three years and has raised its dividend every year for the last 1 years. CVR Energy has a dividend payout ratio of 30.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect CVR Energy to earn $1.48 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 27.0%.

CVR Energy Price Performance

CVI opened at $38.31 on Friday. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.44 and a quick ratio of 0.89. The stock’s 50 day simple moving average is $31.49 and its 200 day simple moving average is $29.43. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of 56.33 and a beta of 0.83. CVR Energy has a 1 year low of $19.62 and a 1 year high of $41.67.

CVR Energy (NYSE:CVI) last announced its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.08. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.22 billion. CVR Energy had a negative return on equity of 14.58% and a net margin of 0.81%.The business’s revenue was up 55.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.23) earnings per share. As a group, analysts predict that CVR Energy will post -0.21 earnings per share for the current year.

Wall Street Analyst Weigh In

CVI has been the topic of several analyst reports. Wall Street Zen raised shares of CVR Energy from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Tudor Pickering cut shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Thursday, June 4th. Scotiabank raised their price target on shares of CVR Energy from $25.00 to $28.00 and gave the stock a “sector underperform” rating in a report on Wednesday, April 22nd. UBS Group restated a “neutral” rating and issued a $35.00 price objective on shares of CVR Energy in a research report on Monday, June 29th. Finally, Weiss Ratings downgraded shares of CVR Energy from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Friday, May 15th. Two research analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Strong Sell” and a consensus target price of $30.25.

About CVR Energy

CVR Energy, Inc is an independent downstream energy company engaged primarily in petroleum refining and nitrogen fertilizer production in the United States. Headquartered in Sugar Land, Texas, CVR Energy operates through two reportable segments—Petroleum Products and Nitrogen Fertilizers—leveraging its refining expertise and distribution network to serve both wholesale and retail markets across key regions in the U.S.

In its Petroleum Products segment, the company owns and operates the Coffeyville, Kansas refinery, which has the capability to process various grades of crude oil into gasoline, diesel, jet fuel and other refined products.