CVR Energy, Inc. Plans Quarterly Dividend of $0.75 (CVI)
CVR Energy, Inc. (NYSE:CVI) declared a quarterly dividend on Thursday, April 25th, Wall Street Journal reports. Investors of record on Monday, May 6th will be paid a dividend of 0.75 per share by the oil and gas company on Monday, May 13th. This represents a $3.00 dividend on an annualized basis and a yield of 6.55%. The ex-dividend date of this dividend is Friday, May 3rd.
CVR Energy has raised its dividend by an average of 7.7% annually over the last three years.
NYSE CVI traded up $4.08 during mid-day trading on Thursday, reaching $45.82. 1,628,897 shares of the stock were exchanged, compared to its average volume of 515,776. CVR Energy has a one year low of $30.46 and a one year high of $47.67. The company has a market capitalization of $4.38 billion, a PE ratio of 15.96 and a beta of 1.22. The company has a quick ratio of 1.84, a current ratio of 2.61 and a debt-to-equity ratio of 0.62.
Several equities research analysts have weighed in on the stock. Citigroup decreased their price target on shares of CVR Energy from $44.00 to $43.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Wolfe Research assumed coverage on shares of CVR Energy in a research note on Monday, January 28th. They issued a “market perform” rating and a $38.00 price target for the company. Finally, Barclays assumed coverage on shares of CVR Energy in a research note on Thursday, January 24th. They issued an “underweight” rating and a $47.00 price target for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $42.60.
CVR Energy Company Profile
CVR Energy, Inc, through its subsidiaries, engages in petroleum refining and nitrogen fertilizer manufacturing activities in the United States. The company operates in Petroleum and Nitrogen Fertilizer segments. The Petroleum segment refines and markets transportation fuels, such as gasoline, diesel fuel, and other refined products.
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