CVR Energy Inc. (NYSE:CVI) Shareholders to Get $0.10 Quarterly Dividend

Key Points

• CVR Energy declared a quarterly dividend of $0.10 per share, payable November 23 to shareholders of record November 16. That equals $0.40 annually and a 0.8% yield.
• The dividend appears well covered: the current payout ratio is 30.1%, and analysts expect next year’s earnings to imply an 8.1% payout ratio.
• Quarterly results beat expectations, with EPS of $4.00 versus the $2.91 consensus and revenue up 68.8% year over year. Analysts’ consensus rating is “Reduce,” with an average price target of $45.75.

CVR Energy Inc. (NYSE:CVI - Get Free Report) announced a quarterly dividend on Tuesday, November 3rd. Stockholders of record on Monday, November 16th will be paid 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 dividend yield of 0.8%. The ex-dividend date is Monday, November 16th.

CVR Energy has decreased its dividend 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% indicating that its dividend is sufficiently covered by earnings. Research 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 Stock Performance

Shares of NYSE CVI traded down $7.21 during midday trading on Tuesday, reaching $48.71. 3,249,871 shares of the company were exchanged, compared to its average volume of 1,131,693. 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 1 year low of $19.62 and a 1 year high of $63.51. The stock has a fifty day simple moving average of $52.63 and a 200 day simple moving average of $35.76. The stock has a market cap of $4.90 billion, a P/E ratio of 71.63 and a beta of 0.90.

CVR Energy (NYSE:CVI - Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The oil and gas company reported $4.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $1.09. The firm had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $2.35 billion. CVR Energy had a negative return on equity of 15.21% and a net margin of 0.81%. The firm's revenue for the quarter was up 68.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 EPS. On average, research analysts forecast that CVR Energy will post 4.20 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Mizuho lifted their target price on shares of CVR Energy from $29.00 to $52.00 and gave the company an "underperform" rating in a report on Thursday, October 8th. UBS Group increased their price target on shares of CVR Energy from $35.00 to $53.00 and gave the stock a "neutral" rating in a report on Friday, October 2nd. Weiss Ratings raised shares of CVR Energy from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, October 8th. Wall Street Zen upgraded shares of CVR Energy from a "buy" rating to a "strong-buy" rating in a research report on Saturday, October 10th. Finally, The Goldman Sachs Group lifted their price objective on CVR Energy from $36.00 to $50.00 and gave the company a "sell" rating in a report on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $45.75.

About CVR Energy

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.

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