First Trust Advisors LP Purchases 229,998 Shares of CVR Energy Inc. $CVI

First Trust Advisors LP grew its holdings in shares of CVR Energy Inc. (NYSE:CVI) by 687.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 263,448 shares of the oil and gas company’s stock after purchasing an additional 229,998 shares during the quarter. First Trust Advisors LP’s holdings in CVR Energy were worth $8,865,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. UBS Group AG grew its position in shares of CVR Energy by 32.2% during the 4th quarter. UBS Group AG now owns 850,042 shares of the oil and gas company’s stock valued at $21,625,000 after acquiring an additional 206,861 shares during the period. GSA Capital Partners LLP raised its holdings in CVR Energy by 136.0% in the 4th quarter. GSA Capital Partners LLP now owns 51,991 shares of the oil and gas company’s stock worth $1,323,000 after purchasing an additional 29,963 shares during the period. Vanguard Group Inc. raised its holdings in CVR Energy by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 3,705,809 shares of the oil and gas company’s stock worth $94,276,000 after purchasing an additional 106,906 shares during the period. D.A. Davidson & CO. purchased a new position in CVR Energy during the first quarter valued at $1,248,000. Finally, Hussman Strategic Advisors Inc. purchased a new position in CVR Energy during the fourth quarter valued at $1,068,000. Hedge funds and other institutional investors own 98.88% of the company’s stock.

Wall Street Analyst Weigh In

CVI has been the subject of a number of analyst reports. The Goldman Sachs Group started coverage on CVR Energy in a research report on Friday, April 10th. They issued a “sell” rating and a $30.00 price target for the company. Wall Street Zen upgraded CVR Energy from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings lowered shares of CVR Energy from a “sell (d+)” rating to a “sell (d-)” rating in a report on Friday, May 15th. Mizuho decreased their target price on shares of CVR Energy from $35.00 to $28.00 and set an “underperform” rating on the stock in a research note on Tuesday, July 7th. Finally, Zacks Research cut shares of CVR Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, July 6th. Two investment analysts have rated the stock with a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat, CVR Energy currently has a consensus rating of “Strong Sell” and a consensus target price of $30.25.

CVR Energy Price Performance

Shares of CVR Energy stock opened at $35.51 on Friday. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 52.22 and a beta of 0.83. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 2.38. The stock’s 50-day simple moving average is $31.55 and its 200-day simple moving average is $29.47. CVR Energy Inc. has a 52 week low of $19.62 and a 52 week high of $41.67.

CVR Energy (NYSE:CVI) last released its earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter last year, the business posted ($0.23) earnings per share. The firm’s revenue was up 55.5% on a year-over-year basis. As a group, analysts expect that CVR Energy Inc. will post -0.21 earnings per share for the current fiscal year.

CVR Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 10th will be given a dividend of $0.10 per share. The ex-dividend date is Monday, August 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.1%. 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.