Denali Advisors LLC Lowers Stock Position in CVR Energy, Inc. (NYSE:CVI)

Denali Advisors LLC lessened its holdings in shares of CVR Energy, Inc. (NYSE:CVI) by 17.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,572 shares of the oil and gas company’s stock after selling 7,700 shares during the quarter. Denali Advisors LLC’s holdings in CVR Energy were worth $1,340,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its stake in CVR Energy by 41.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,019 shares of the oil and gas company’s stock worth $393,000 after acquiring an additional 3,213 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of CVR Energy by 96.7% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 21,425 shares of the oil and gas company’s stock valued at $764,000 after purchasing an additional 10,531 shares during the last quarter. Hennessy Advisors Inc. increased its position in shares of CVR Energy by 44.0% during the 1st quarter. Hennessy Advisors Inc. now owns 143,000 shares of the oil and gas company’s stock valued at $5,099,000 after purchasing an additional 43,700 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of CVR Energy during the 1st quarter valued at approximately $71,000. Finally, BTC Capital Management Inc. bought a new position in shares of CVR Energy during the 1st quarter valued at approximately $605,000. Institutional investors own 98.88% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CVI shares. UBS Group dropped their price objective on CVR Energy from $37.00 to $33.75 and set a “neutral” rating for the company in a report on Tuesday, May 14th. Scotiabank upped their target price on CVR Energy from $25.00 to $29.00 and gave the stock a “sector underperform” rating in a report on Thursday, April 11th. StockNews.com cut CVR Energy from a “buy” rating to a “hold” rating in a report on Sunday, June 16th. Finally, JPMorgan Chase & Co. lowered their target price on CVR Energy from $30.00 to $26.00 and set an “underweight” rating for the company in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $29.94.

CVR Energy Stock Performance

Shares of CVI stock traded up $0.37 during mid-day trading on Wednesday, reaching $26.58. The stock had a trading volume of 503,126 shares, compared to its average volume of 951,077. The business’s fifty day moving average is $28.53 and its 200-day moving average is $31.64. The company has a current ratio of 1.49, a quick ratio of 0.91 and a debt-to-equity ratio of 1.48. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 4.02 and a beta of 1.54. CVR Energy, Inc. has a 1-year low of $25.99 and a 1-year high of $39.36.

CVR Energy (NYSE:CVI) last released its earnings results on Monday, April 29th. The oil and gas company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.09). CVR Energy had a net margin of 7.44% and a return on equity of 40.14%. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter last year, the business earned $1.44 EPS. The business’s revenue was down 18.5% compared to the same quarter last year. On average, research analysts forecast that CVR Energy, Inc. will post 0.95 earnings per share for the current year.

CVR Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $2.00 annualized dividend and a yield of 7.52%. CVR Energy’s dividend payout ratio (DPR) is 30.67%.

About CVR Energy

CVR Energy, Inc, together with its subsidiaries, engages in the petroleum refining and marketing, and nitrogen fertilizer manufacturing activities in the United States. It operates in two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment refines and supplies gasoline, crude oil, distillate, diesel fuel, and other refined products.