Man Group plc Takes Position in CVR Energy Inc. $CVI

Man Group plc acquired a new stake in CVR Energy Inc. (NYSE:CVI) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 56,436 shares of the oil and gas company’s stock, valued at approximately $1,554,000.

A number of other large investors have also bought and sold shares of CVI. BlackRock Inc. acquired a new stake in CVR Energy during the 2nd quarter worth approximately $143,262,000. Vanguard Group Inc. lifted its stake in CVR Energy by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 3,705,809 shares of the oil and gas company’s stock valued at $94,276,000 after buying an additional 106,906 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of CVR Energy by 16.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,908,062 shares of the oil and gas company’s stock valued at $64,220,000 after buying an additional 265,013 shares during the period. State Street Corp boosted its holdings in shares of CVR Energy by 2.6% in the fourth quarter. State Street Corp now owns 1,779,701 shares of the oil and gas company’s stock valued at $45,276,000 after buying an additional 45,603 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of CVR Energy by 33.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,364,250 shares of the oil and gas company’s stock worth $49,768,000 after acquiring an additional 345,758 shares in the last quarter. 98.88% of the stock is owned by institutional investors.

CVR Energy Trading Up 0.4%

Shares of CVR Energy stock opened at $43.04 on Thursday. The stock has a market cap of $4.33 billion, a P/E ratio of 63.30 and a beta of 0.85. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 2.38. CVR Energy Inc. has a 12-month low of $19.62 and a 12-month high of $44.33. The business’s 50 day moving average is $34.11 and its 200-day moving average is $31.66.

CVR Energy (NYSE:CVI) last released its earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.08. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.22 billion. CVR Energy had a net margin of 0.81% and a negative return on equity of 15.21%. The firm’s revenue was up 55.5% on a year-over-year basis. During the same period last year, the business earned ($0.23) earnings per share. Equities research analysts predict that CVR Energy Inc. will post 0.79 earnings per share for the current fiscal year.

CVR Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 10th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, August 10th. CVR Energy’s dividend payout ratio (DPR) is 58.82%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Tudor Pickering lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a report on Thursday, June 4th. Zacks Research upgraded CVR Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of CVR Energy in a research note on Wednesday, August 12th. Mizuho boosted their price target on CVR Energy from $28.00 to $29.00 and gave the company an “underperform” rating in a report on Tuesday, August 4th. Finally, Wall Street Zen raised CVR Energy from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Three equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, CVR Energy has a consensus rating of “Strong Sell” and a consensus price target of $30.50.

CVR Energy Company Profile

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.