Fulcrum Asset Management LLP purchased a new position in shares of CVR Energy Inc. (NYSE:CVI – Free Report) in the 3rd quarter, HoldingsChannel reports. The firm purchased 31,344 shares of the oil and gas company’s stock, valued at approximately $1,585,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of CVR Energy in the 2nd quarter valued at $143,262,000. Dimensional Fund Advisors LP increased its position in shares of CVR Energy by 16.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,908,062 shares of the oil and gas company’s stock worth $64,220,000 after buying an additional 265,013 shares during the period. State Street Corp increased its position in shares of CVR Energy by 11.0% during the second quarter. State Street Corp now owns 2,153,498 shares of the oil and gas company’s stock worth $59,315,000 after buying an additional 213,829 shares during the period. Bank of America Corp DE raised its stake in CVR Energy by 19.4% during the second quarter. Bank of America Corp DE now owns 671,728 shares of the oil and gas company’s stock worth $18,499,000 after buying an additional 109,338 shares during the last quarter. Finally, PDT Partners LLC bought a new position in CVR Energy during the second quarter worth $14,502,000. Institutional investors and hedge funds own 98.88% of the company’s stock.
Wall Street Analyst Weigh In
CVI has been the topic of several recent analyst reports. Zacks Research upgraded shares of CVR Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, October 16th. The Goldman Sachs Group upped their price target on shares of CVR Energy from $36.00 to $50.00 and gave the company a “sell” rating in a research report on Friday, October 9th. Mizuho increased their price target on CVR Energy from $29.00 to $52.00 and gave the stock an “underperform” rating in a report on Thursday, October 8th. Wall Street Zen raised CVR Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 10th. Finally, Weiss Ratings raised CVR Energy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. One 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. Based on data from MarketBeat, CVR Energy presently has an average rating of “Reduce” and a consensus target price of $45.75.
Read Our Latest Stock Analysis on CVI
CVR Energy Stock Performance
NYSE:CVI opened at $38.70 on Wednesday. The company has a quick ratio of 1.27, a current ratio of 1.73 and a debt-to-equity ratio of 1.41. CVR Energy Inc. has a twelve month low of $19.62 and a twelve month high of $63.51. The company has a fifty day moving average of $52.77 and a 200-day moving average of $36.27. The firm has a market capitalization of $3.89 billion, a P/E ratio of 14.71 and a beta of 0.85.
CVR Energy (NYSE:CVI – Get Free Report) last issued its earnings results on Tuesday, November 3rd. The oil and gas company reported $4.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $1.09. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $2.35 billion. CVR Energy had a net margin of 2.70% and a return on equity of 25.52%. CVR Energy’s revenue was up 68.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 earnings per share. As a group, sell-side analysts anticipate that CVR Energy Inc. will post 4.80 EPS for the current year.
CVR Energy Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Monday, November 16th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Monday, November 16th. CVR Energy’s payout ratio is 15.21%.
About CVR Energy
CVR Energy, Inc. is a diversified energy company whose principal businesses are petroleum refining and nitrogen fertilizer production. Through its subsidiaries, the company processes crude oil and markets refined fuels and other petroleum products. Its refining operations include facilities in Coffeyville, Kansas, and Wynnewood, Oklahoma. Products include gasoline, diesel fuel, jet fuel and asphalt, serving customers primarily in the central United States. CVR Energy also owns a majority interest in CVR Partners, LP, which produces nitrogen fertilizers, including ammonia and urea ammonium nitrate (UAN), at facilities in Coffeyville, Kansas, and East Dubuque, Illinois.
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