CVR Energy Inc. (CVI) to Issue Quarterly Dividend of $0.10 on November 23rd

CVR Energy Inc. (NYSE:CVI) declared a quarterly dividend on Tuesday, November 3rd. Investors of record on Monday, November 16th will be given a dividend of $0.10 per share by the oil and gas company on Monday, November 23rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Monday, November 16th.

CVR Energy has decreased its dividend payment by an average of 1.0% 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 30.1% meaning its dividend is sufficiently covered by earnings. Analysts expect CVR Energy to earn $4.91 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 8.1%.

CVR Energy Price Performance

CVR Energy stock opened at $42.65 on Thursday. The stock has a market cap of $4.29 billion, a P/E ratio of 16.22 and a beta of 0.85. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 2.38. CVR Energy has a 12-month low of $19.62 and a 12-month high of $63.51. The company has a fifty day simple moving average of $52.94 and a 200-day simple moving average of $35.98.

CVR Energy (NYSE:CVI) last posted its quarterly earnings data on Tuesday, November 3rd. The oil and gas company reported $4.00 earnings per share for the quarter, beating the consensus estimate of $2.91 by $1.09. CVR Energy had a return on equity of 29.26% and a net margin of 2.70%. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the company earned $0.40 earnings per share. The company’s revenue was up 68.8% compared to the same quarter last year. Equities analysts expect that CVR Energy will post 4.20 EPS for the current fiscal year.

Hedge Funds Weigh In On CVR Energy

A number of large investors have recently bought and sold shares of CVI. Parallel Advisors LLC lifted its holdings in shares of CVR Energy by 64.5% during the 3rd quarter. Parallel Advisors LLC now owns 668 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 262 shares in the last quarter. Sterling Capital Management LLC increased its position in CVR Energy by 851.4% in the third quarter. Sterling Capital Management LLC now owns 999 shares of the oil and gas company’s stock worth $51,000 after buying an additional 894 shares during the period. Nykredit A S bought a new position in shares of CVR Energy in the second quarter worth $29,000. EverSource Wealth Advisors LLC increased its position in shares of CVR Energy by 44.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,102 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 339 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in CVR Energy by 51.5% during the first quarter. PNC Financial Services Group Inc. now owns 1,142 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 388 shares during the last quarter. Hedge funds and other institutional investors own 98.88% of the company’s stock.

CVR Energy Company Profile

CVR Energy, Inc (NYSE:CVI) is a diversified energy company engaged primarily in petroleum refining and nitrogen fertilizer production. Through its refining operations, the company processes crude oil into transportation fuels and other refined products, including gasoline, diesel fuel, jet fuel and asphalt.

CVR Energy operates refineries in Coffeyville, Kansas, and Wynnewood, Oklahoma. The facilities primarily serve customers in the Midcontinent region of the United States and are supported by related logistics and distribution assets.