CVR Energy Inc. (CVI) To Go Ex-Dividend on May 11th

CVR Energy Inc. (NYSE:CVI) declared a quarterly dividend on Wednesday, April 29th. Investors of record on Monday, May 11th will be paid a dividend of 0.10 per share by the oil and gas company on Monday, May 18th. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, May 11th.

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 every year for the last 1 years. CVR Energy has a payout ratio of 111.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect CVR Energy to earn $1.16 per share next year, which means the company may not be able to cover its $1.48 annual dividend with an expected future payout ratio of 127.6%.

CVR Energy Stock Performance

Shares of CVI stock opened at $33.07 on Friday. The company has a market cap of $3.32 billion, a P/E ratio of -76.90 and a beta of 0.94. The firm has a fifty day moving average price of $29.83 and a 200 day moving average price of $29.76. The company has a current ratio of 1.79, a quick ratio of 1.13 and a debt-to-equity ratio of 1.95. CVR Energy has a 12 month low of $18.75 and a 12 month high of $41.67.

CVR Energy (NYSE:CVI) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.70). The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.73 billion. CVR Energy had a negative net margin of 0.56% and a negative return on equity of 21.50%. The firm’s quarterly revenue was up 20.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.58) earnings per share. Sell-side analysts predict that CVR Energy will post 1.16 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Carl C. Icahn purchased 275,012 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The shares were purchased at an average price of $21.41 per share, for a total transaction of $5,888,006.92. Following the transaction, the insider directly owned 71,201,875 shares of the company’s stock, valued at approximately $1,524,432,143.75. The trade was a 0.39% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders bought a total of 783,404 shares of company stock worth $16,445,044 over the last 90 days. Company insiders own 0.01% of the company’s stock.

Institutional Trading of CVR Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. Quarry LP acquired a new position in shares of CVR Energy in the third quarter valued at approximately $50,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of CVR Energy during the fourth quarter worth $40,000. Exchange Traded Concepts LLC purchased a new position in CVR Energy in the 4th quarter valued at $47,000. Horizon Investments LLC purchased a new position in CVR Energy in the 4th quarter valued at $47,000. Finally, Raymond James Financial Inc. acquired a new position in CVR Energy in the 2nd quarter valued at $53,000. 98.88% of the stock is owned by institutional investors and hedge funds.

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.