The Manufacturers Life Insurance Company Makes New Investment in CVR Energy Inc. $CVI

The Manufacturers Life Insurance Company bought a new stake in CVR Energy Inc. (NYSE:CVI) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 14,929 shares of the oil and gas company’s stock, valued at approximately $411,000.

Other hedge funds have also made changes to their positions in the company. Royal Bank of Canada increased its holdings in shares of 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 during the last quarter. AQR Capital Management LLC purchased a new position in CVR Energy in the first quarter worth approximately $611,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in CVR Energy by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,301 shares of the oil and gas company’s stock worth $394,000 after acquiring an additional 858 shares during the last quarter. Goldman Sachs Group Inc. raised its position in CVR Energy by 14.8% in the first quarter. Goldman Sachs Group Inc. now owns 496,650 shares of the oil and gas company’s stock valued at $9,635,000 after purchasing an additional 63,909 shares during the period. Finally, JPMorgan Chase & Co. raised its position in CVR Energy by 34.2% in the second quarter. JPMorgan Chase & Co. now owns 273,777 shares of the oil and gas company’s stock valued at $7,351,000 after purchasing an additional 69,726 shares during the period. Hedge funds and other institutional investors own 98.88% of the company’s stock.

Wall Street Analyst Weigh In

CVI has been the subject of a number of research analyst reports. Tudor Pickering cut CVR Energy from a “hold” rating to a “sell” rating in a report on Thursday, June 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CVR Energy in a research report on Wednesday, August 12th. Mizuho increased their target price on shares of CVR Energy from $28.00 to $29.00 and gave the stock an “underperform” rating in a research note on Tuesday, August 4th. Wall Street Zen upgraded shares of CVR Energy from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, UBS Group reissued a “neutral” rating and issued a $35.00 price target on shares of CVR Energy in a research note on Monday, June 29th. Three analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Strong Sell” and a consensus target price of $30.50.

CVR Energy Stock Up 0.1%

CVR Energy stock opened at $44.54 on Tuesday. The company has a market capitalization of $4.48 billion, a P/E ratio of 65.50 and a beta of 0.85. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.92 and a current ratio of 1.42. CVR Energy Inc. has a fifty-two week low of $19.62 and a fifty-two week high of $44.65. The stock has a 50-day simple moving average of $35.11 and a 200-day simple moving average of $32.11.

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

CVR Energy Dividend Announcement

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

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.