NFJ Investment Group LLC Acquires New Stake in CVR Energy Inc. $CVI

NFJ Investment Group LLC acquired a new position in CVR Energy Inc. (NYSE:CVI) in the 2nd quarter, HoldingsChannel reports. The fund acquired 79,805 shares of the oil and gas company’s stock, valued at approximately $2,198,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CVI. BlackRock Inc. bought a new position in CVR Energy during the second quarter worth about $143,262,000. Vanguard Group Inc. raised its position in shares of 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 purchasing an additional 106,906 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of CVR Energy by 16.1% during the 1st 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 in the last quarter. State Street Corp boosted its holdings in CVR Energy by 2.6% in the 4th quarter. State Street Corp now owns 1,779,701 shares of the oil and gas company’s stock worth $45,276,000 after buying an additional 45,603 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in CVR Energy by 33.9% in the 3rd 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 buying an additional 345,758 shares during the period. 98.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Zacks Research raised CVR Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. UBS Group reissued a “neutral” rating and set a $35.00 price objective on shares of CVR Energy in a report on Monday, June 29th. Tudor Pickering downgraded CVR Energy from a “hold” rating to a “sell” rating in a research note on Thursday, June 4th. Mizuho lifted their target price on CVR Energy from $28.00 to $29.00 and gave the company an “underperform” rating in a report on Tuesday, August 4th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of CVR Energy in a research report 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.com, the company currently has an average rating of “Strong Sell” and a consensus price target of $30.50.

CVR Energy Stock Up 11.4%

Shares of NYSE:CVI opened at $39.90 on Friday. CVR Energy Inc. has a 52-week low of $19.62 and a 52-week high of $41.67. The firm has a fifty day moving average of $32.04 and a 200 day moving average of $30.65. The firm has a market capitalization of $4.01 billion, a PE ratio of 58.68 and a beta of 0.83. 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 (NYSE:CVI) last announced its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.26 by $0.08. CVR Energy had a negative return on equity of 15.21% and a net margin of 0.81%.The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period in the prior year, the company earned ($0.23) EPS. The company’s revenue was up 55.5% on a year-over-year basis. As a group, research analysts anticipate that CVR Energy Inc. will post 0.79 EPS for the current fiscal year.

CVR Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 10th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Monday, August 10th. CVR Energy’s dividend payout ratio is currently 58.82%.

CVR Energy 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.