CVR Energy, Inc. (NYSE:CVI) Declares $0.50 Quarterly Dividend

CVR Energy, Inc. (NYSE:CVIGet Free Report) declared a quarterly dividend on Tuesday, February 20th, Zacks reports. Shareholders of record on Monday, March 4th will be paid a dividend of 0.50 per share by the oil and gas company on Monday, March 11th. This represents a $2.00 annualized dividend and a yield of 6.24%. The ex-dividend date of this dividend is Friday, March 1st.

CVR Energy has raised its dividend by an average of 18.6% annually over the last three years and has raised its dividend every year for the last 1 years. CVR Energy has a payout ratio of 103.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect CVR Energy to earn $2.38 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 84.0%.

CVR Energy Trading Down 4.5 %

Shares of CVI opened at $32.05 on Thursday. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 1.52. The firm’s 50-day moving average is $32.34 and its two-hundred day moving average is $32.56. CVR Energy has a twelve month low of $22.60 and a twelve month high of $39.36. The firm has a market capitalization of $3.22 billion, a P/E ratio of 4.19 and a beta of 1.59.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CVI. Scotiabank downgraded shares of CVR Energy from a “sector perform” rating to a “sector underperform” rating and reduced their price target for the company from $28.00 to $25.00 in a report on Tuesday, January 16th. StockNews.com downgraded shares of CVR Energy from a “buy” rating to a “hold” rating in a report on Friday, February 23rd.

Check Out Our Latest Report on CVI

Hedge Funds Weigh In On CVR Energy

Institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its stake in shares of CVR Energy by 103.1% during the third quarter. Tower Research Capital LLC TRC now owns 1,862 shares of the oil and gas company’s stock valued at $63,000 after buying an additional 945 shares during the period. Money Concepts Capital Corp lifted its stake in shares of CVR Energy by 145.4% during the fourth quarter. Money Concepts Capital Corp now owns 2,226 shares of the oil and gas company’s stock valued at $70,000 after buying an additional 1,319 shares during the period. Mitsubishi UFJ Trust & Banking Corp acquired a new position in CVR Energy during the first quarter worth approximately $79,000. Great West Life Assurance Co. Can increased its position in CVR Energy by 28.0% during the first quarter. Great West Life Assurance Co. Can now owns 3,752 shares of the oil and gas company’s stock worth $102,000 after purchasing an additional 821 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in CVR Energy during the fourth quarter worth approximately $116,000. Hedge funds and other institutional investors own 98.88% of the company’s stock.

CVR Energy Company Profile

(Get Free Report)

CVR Energy, Inc, together with its subsidiaries, engages in the petroleum refining and nitrogen fertilizer manufacturing activities in the United States. It operates in two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment refines and markets gasoline, diesel fuel, and other refined products.

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Dividend History for CVR Energy (NYSE:CVI)

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