Legal & General Group Plc Increases Position in CVR Energy Inc. (CVI)
Legal & General Group Plc raised its position in shares of CVR Energy Inc. (NYSE:CVI) by 37.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,789 shares of the oil and gas company’s stock after buying an additional 4,831 shares during the period. Legal & General Group Plc’s holdings in CVR Energy were worth $358,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP acquired a new position in shares of CVR Energy during the first quarter worth approximately $1,148,000. Russell Investments Group Ltd. acquired a new position in shares of CVR Energy during the fourth quarter worth approximately $229,000. Norges Bank acquired a new position in shares of CVR Energy during the fourth quarter worth approximately $11,641,000. Teachers Advisors LLC increased its position in shares of CVR Energy by 50.2% in the fourth quarter. Teachers Advisors LLC now owns 61,913 shares of the oil and gas company’s stock worth $1,572,000 after buying an additional 20,684 shares in the last quarter. Finally, State Street Corp increased its position in shares of CVR Energy by 5.0% in the fourth quarter. State Street Corp now owns 318,632 shares of the oil and gas company’s stock worth $8,089,000 after buying an additional 15,304 shares in the last quarter. 98.13% of the stock is currently owned by institutional investors and hedge funds.
Shares of CVR Energy Inc. (NYSE:CVI) opened at 18.14 on Tuesday. The stock has a market cap of $1.58 billion, a P/E ratio of 66.20 and a beta of 1.72. The company’s 50-day moving average is $21.28 and its 200 day moving average is $21.17. CVR Energy Inc. has a 1-year low of $12.03 and a 1-year high of $25.91.
CVR Energy (NYSE:CVI) last issued its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.07. CVR Energy had a net margin of 0.44% and a return on equity of 2.10%. The business had revenue of $1.43 billion during the quarter. Equities research analysts anticipate that CVR Energy Inc. will post $0.29 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, August 7th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 10.85%. The ex-dividend date of this dividend is Thursday, August 3rd. CVR Energy’s payout ratio is 714.31%.
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CVI has been the topic of a number of research reports. BidaskClub downgraded shares of CVR Energy from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. ValuEngine raised shares of CVR Energy from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company. CVR Energy currently has an average rating of “Hold” and an average price target of $14.50.
CVR Energy Company Profile
CVR Energy, Inc (CVR Energy) is a holding company. The Company is engaged in the petroleum refining and nitrogen fertilizer manufacturing through its holdings in CVR Refining LP (CVR Refining or the Refining Partnership) and CVR Partners LP (CVR Partners or the Nitrogen Fertilizer Partnership). It operates under two business segments: petroleum (the petroleum and related businesses operated by the Refining Partnership) and nitrogen fertilizer (the nitrogen fertilizer business operated by the Nitrogen Fertilizer Partnership).
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