Magnetar Financial LLC Makes New Investment in CVR Energy Inc. $CVI

Magnetar Financial LLC bought a new position in shares of CVR Energy Inc. (NYSE:CVI – Free Report) during the fourth quarter, HoldingsChannel.com reports. The firm bought 181,874 shares of the oil and gas company’s stock, valued at approximately $4,627,000.

A number of other hedge funds also recently added to or reduced their stakes in CVI. Royal Bank of Canada lifted its holdings in CVR Energy by 67.2% during the 1st quarter. Royal Bank of Canada now owns 14,904 shares of the oil and gas company’s stock worth $289,000 after buying an additional 5,992 shares in the last quarter. AQR Capital Management LLC acquired a new stake in CVR Energy during the 1st quarter worth approximately $611,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in CVR Energy by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,301 shares of the oil and gas company’s stock worth $394,000 after buying an additional 858 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in CVR Energy by 14.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 496,650 shares of the oil and gas company’s stock worth $9,635,000 after buying an additional 63,909 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in CVR Energy by 34.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 273,777 shares of the oil and gas company’s stock worth $7,351,000 after buying an additional 69,726 shares in the last quarter. 98.88% of the stock is currently owned by institutional investors and hedge funds.

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CVR Energy Trading Down 1.3%

Shares of NYSE:CVI opened at $28.49 on Wednesday. CVR Energy Inc. has a 52 week low of $19.62 and a 52 week high of $41.67. The company’s 50 day moving average is $32.47 and its two-hundred day moving average is $28.96. The company has a current ratio of 1.44, a quick ratio of 0.89 and a debt-to-equity ratio of 2.41. The company has a market cap of $2.86 billion, a PE ratio of -66.27 and a beta of 0.80.

CVR Energy (NYSE:CVI – Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported ($1.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.70). CVR Energy had a negative net margin of 0.56% and a negative return on equity of 22.36%. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the company posted ($0.58) earnings per share. The company’s revenue for the quarter was up 20.3% on a year-over-year basis. Equities analysts predict that CVR Energy Inc. will post 0.88 earnings per share for the current fiscal year.

CVR Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 18th. Shareholders of record on Monday, May 11th were given a $0.10 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.4%. CVR Energy’s dividend payout ratio is currently -93.02%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CVI. The Goldman Sachs Group began coverage on shares of CVR Energy in a report on Friday, April 10th. They set a “sell” rating and a $30.00 target price on the stock. Scotiabank increased their target price on shares of CVR Energy from $25.00 to $28.00 and gave the stock a “sector underperform” rating in a report on Wednesday, April 22nd. Mizuho increased their target price on shares of CVR Energy from $32.00 to $35.00 and gave the stock an “underperform” rating in a report on Wednesday, May 27th. Tudor Pickering lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a report on Thursday, June 4th. Finally, Wall Street Zen raised shares of CVR Energy from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Two research analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, CVR Energy has an average rating of “Strong Sell” and an average price target of $32.50.

View Our Latest Analysis on CVI

CVR Energy Company Profile

(Free Report)

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.

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