CVR Energy Inc. $CVI Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its stake in shares of CVR Energy Inc. (NYSE:CVI) by 63.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 50,101 shares of the oil and gas company’s stock after selling 88,172 shares during the quarter. Wellington Management Group LLP’s holdings in CVR Energy were worth $1,380,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVI. Capstone Investment Advisors LLC purchased a new stake in shares of CVR Energy during the second quarter valued at approximately $791,000. Bank of America Corp DE boosted its stake in shares of CVR Energy by 19.4% in the second quarter. Bank of America Corp DE now owns 671,728 shares of the oil and gas company’s stock valued at $18,499,000 after purchasing an additional 109,338 shares during the period. Man Group plc purchased a new position in shares of CVR Energy in the second quarter valued at $1,554,000. Jupiter Topco LLC purchased a new position in shares of CVR Energy in the second quarter valued at $362,000. Finally, PDT Partners LLC acquired a new stake in CVR Energy during the 2nd quarter valued at $14,502,000. 98.88% of the stock is owned by institutional investors and hedge funds.

CVR Energy Stock Up 2.3%

Shares of NYSE:CVI opened at $49.72 on Friday. The firm has a market cap of $5.00 billion, a PE ratio of 73.11 and a beta of 0.85. The company has a fifty day simple moving average of $36.69 and a 200 day simple moving average of $32.77. The company has a current ratio of 1.42, a quick ratio of 0.92 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 $52.40.

CVR Energy (NYSE:CVI) last posted its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $0.34 EPS for the quarter, beating 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 net margin of 0.81% and a negative return on equity of 15.21%. The firm’s revenue was up 55.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.23) EPS. On average, equities research analysts anticipate that CVR Energy Inc. will post 0.79 EPS for the current fiscal year.

CVR Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 10th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.8%. CVR Energy’s dividend payout ratio (DPR) is presently 58.82%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Zacks Research raised shares of CVR Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Wall Street Zen raised shares of CVR Energy from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. UBS Group restated a “neutral” rating and set a $35.00 target price on shares of CVR Energy in a research note on Monday, June 29th. Mizuho lifted their target price on CVR Energy from $28.00 to $29.00 and gave the stock an “underperform” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of CVR Energy in a research note on Wednesday, August 12th. Three equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Strong Sell” and a consensus target price of $30.50.

About CVR Energy

CVR Energy, Inc (NYSE:CVI) is a diversified energy company that operates through its petroleum refining and nitrogen fertilizer businesses. The company’s operations are primarily located in the Mid-Continent region of the United States.

Through its petroleum segment, CVR Energy owns and operates refineries in Coffeyville, Kansas, and Wynnewood, Oklahoma. These facilities process crude oil into transportation fuels and other refined products, including gasoline, diesel fuel, jet fuel, and asphalt.