CVR Energy, Inc. (NYSE:CVI) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its holdings in CVR Energy, Inc. (NYSE:CVI) by 1.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,089 shares of the oil and gas company’s stock after purchasing an additional 2,909 shares during the quarter. Principal Financial Group Inc.’s holdings in CVR Energy were worth $6,208,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVI. Groesbeck Investment Management Corp NJ purchased a new position in shares of CVR Energy during the 1st quarter valued at about $1,212,000. Allspring Global Investments Holdings LLC increased its stake in shares of 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 valued at $393,000 after purchasing an additional 3,213 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in shares of CVR Energy by 96.7% in 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 in the last quarter. Hennessy Advisors Inc. increased its stake in shares of CVR Energy by 44.0% in 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 in the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of CVR Energy in the 1st quarter valued at about $71,000. Institutional investors and hedge funds own 98.88% of the company’s stock.

Wall Street Analyst Weigh In

CVI has been the subject of several research reports. JPMorgan Chase & Co. cut their price objective on CVR Energy from $30.00 to $26.00 and set an “underweight” rating for the company in a research note on Tuesday. StockNews.com lowered CVR Energy from a “buy” rating to a “hold” rating in a research note on Sunday, June 16th. UBS Group lowered their target price on CVR Energy from $37.00 to $33.75 and set a “neutral” rating on the stock in a report on Tuesday, May 14th. Finally, Scotiabank boosted 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. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $29.94.

CVR Energy Trading Down 1.2 %

CVI traded down $0.32 during trading hours on Friday, reaching $26.26. The company’s stock had a trading volume of 126,400 shares, compared to its average volume of 944,634. CVR Energy, Inc. has a fifty-two week low of $25.99 and a fifty-two week high of $39.36. The stock has a market cap of $2.64 billion, a PE ratio of 4.08 and a beta of 1.54. The business’s 50-day moving average is $28.25 and its 200-day moving average is $31.57. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.49 and a quick ratio of 0.91.

CVR Energy (NYSE:CVI) last released its quarterly earnings data on Monday, April 29th. The oil and gas company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.09). The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.96 billion. CVR Energy had a net margin of 7.44% and a return on equity of 40.14%. The company’s revenue was down 18.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.44 earnings per share. As a group, equities research analysts predict that CVR Energy, Inc. will post 0.95 earnings per share for the current fiscal year.

CVR Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 7.62%. The ex-dividend date was Friday, May 10th. CVR Energy’s payout ratio 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.