CVR Energy (CVI) Declares $0.50 Dividend
CVR Energy said on October 30, 2023 that its board of directors declared a regular quarterly dividend of $0.50 per share ($2.00 annualized). Previously, the company paid $0.50 per share.
Shares must be purchased before the ex-div date of November 10, 2023 to qualify for the dividend. Shareholders of record as of November 13, 2023 will receive the payment on November 20, 2023.
At the current share price of $33.53 / share, the stock's dividend yield is 5.96%.
Looking back five years and taking a sample every week, the average dividend yield has been 8.67%, the lowest has been 3.97%, and the highest has been 22.80%. The standard deviation of yields is 4.23 (n=152).
The current dividend yield is 0.64 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.57. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
- Read the Ultimate Guide to Dividend Harvesting.
What is the Fund Sentiment?
There are 497 funds or institutions reporting positions in CVR Energy. This is a decrease of 6 owner(s) or 1.19% in the last quarter. Average portfolio weight of all funds dedicated to CVI is 0.15%, an increase of 9.25%. Total shares owned by institutions increased in the last three months by 1.80% to 106,336K shares. 
The put/call ratio of CVI is 0.28, indicating a bullish outlook.
Analyst Price Forecast Suggests 0.63% Downside
As of November 1, 2023, the average one-year price target for CVR Energy is 33.32. The forecasts range from a low of 28.28 to a high of $38.85. The average price target represents a decrease of 0.63% from its latest reported closing price of 33.53.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for CVR Energy is 8,474MM, a decrease of 12.86%. The projected annual non-GAAP EPS is 3.30.
What are Other Shareholders Doing?
Icahn Carl C holds 71,199K shares representing 70.82% ownership of the company. No change in the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 2,044K shares representing 2.03% ownership of the company. In it's prior filing, the firm reported owning 2,129K shares, representing a decrease of 4.14%. The firm decreased its portfolio allocation in CVI by 15.01% over the last quarter.
CALF - Pacer US Small Cap Cash Cows 100 ETF holds 1,955K shares representing 1.95% ownership of the company.
Pacer Advisors holds 1,743K shares representing 1.73% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
XOP - SPDR(R) S&P(R) Oil & Gas Exploration & Production ETF holds 1,558K shares representing 1.55% ownership of the company. In it's prior filing, the firm reported owning 1,316K shares, representing an increase of 15.52%. The firm increased its portfolio allocation in CVI by 17.31% over the last quarter.
CVR Energy Background Information
(This description is provided by the company.)
Headquartered in Sugar Land, Texas, CVR Energy is a diversified holding company primarily engaged in the petroleum refining and marketing business through its interest in CVR Refining and the nitrogen fertilizer manufacturing business through its interest in CVR Partners, LP. CVR Energy subsidiaries serve as the general partner and own 36 percent of the common units of CVR Partners.
Additional reading:
- from time to time party thereto, the lenders from time to time party thereto, and Wells Fargo Bank National Association, a national banking association, as administrative agent and collateral agent.
- CVR Energy Reports Third Quarter 2023 Results, Announces a Cash Dividend of 50 cents and a Special Dividend of $1.50
- Investor Presentation September 2023 Forward-Looking Statements This presentation contains forward-looking statements (“FLS”) which are protected as FLS under the PSLRA, and which are based on management’s current expectations and beliefs, as well as
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