Denali Advisors LLC Has $4.26 Million Holdings in CVR Energy, Inc. (NYSE:CVI)

Denali Advisors LLC lifted its stake in CVR Energy, Inc. (NYSE:CVI) by 323.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 159,162 shares of the oil and gas company’s stock after buying an additional 121,590 shares during the period. Denali Advisors LLC’s holdings in CVR Energy were worth $4,261,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. SIR Capital Management L.P. acquired a new stake in CVR Energy during the 2nd quarter valued at $17,907,000. Vanguard Group Inc. increased its holdings in CVR Energy by 12.1% during the 4th quarter. Vanguard Group Inc. now owns 3,934,944 shares of the oil and gas company’s stock valued at $119,229,000 after purchasing an additional 424,348 shares in the last quarter. Norges Bank acquired a new stake in CVR Energy during the 4th quarter valued at $11,567,000. American Century Companies Inc. increased its holdings in CVR Energy by 60.3% during the 2nd quarter. American Century Companies Inc. now owns 407,819 shares of the oil and gas company’s stock valued at $10,917,000 after purchasing an additional 153,396 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in CVR Energy by 5.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,842,818 shares of the oil and gas company’s stock valued at $55,839,000 after purchasing an additional 103,235 shares in the last quarter. 98.88% of the stock is owned by institutional investors and hedge funds.

CVR Energy Stock Up 3.7 %

NYSE:CVI opened at $22.97 on Tuesday. CVR Energy, Inc. has a 12-month low of $21.05 and a 12-month high of $38.07. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $2.31 billion, a P/E ratio of 3.52 and a beta of 1.49. The stock’s fifty day simple moving average is $24.89 and its 200-day simple moving average is $28.85.

CVR Energy (NYSE:CVI) last posted its quarterly earnings results on Monday, July 29th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.39. CVR Energy had a return on equity of 25.00% and a net margin of 6.39%. The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the company earned $1.64 EPS. The firm’s revenue was down 12.0% on a year-over-year basis. Equities research analysts expect that CVR Energy, Inc. will post 0.55 earnings per share for the current year.

CVR Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were paid a $0.50 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.00 dividend on an annualized basis and a yield of 8.71%. CVR Energy’s payout ratio is 30.67%.

Analyst Upgrades and Downgrades

CVI has been the subject of a number of recent analyst reports. Mizuho dropped their price target on CVR Energy from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Monday. Tudor, Pickering, Holt & Co. lowered CVR Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. StockNews.com lowered CVR Energy from a “buy” rating to a “hold” rating in a research report on Sunday, June 16th. Tudor Pickering upgraded CVR Energy to a “strong sell” rating in a research report on Monday, September 9th. Finally, Scotiabank increased their price objective on CVR Energy from $24.00 to $25.00 and gave the company a “sector underperform” rating in a research report on Wednesday, July 31st. Four analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $26.50.

CVR Energy Company Profile

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.