JPMorgan Chase & Co. Raises Stock Position in CVR Energy Inc. $CVI

JPMorgan Chase & Co. grew its position in CVR Energy Inc. (NYSE:CVI) by 38.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 380,127 shares of the oil and gas company’s stock after buying an additional 106,350 shares during the period. JPMorgan Chase & Co. owned 0.38% of CVR Energy worth $13,867,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in CVR Energy in the second quarter valued at approximately $53,000. BNP Paribas Financial Markets raised its position in CVR Energy by 48.0% in the second quarter. BNP Paribas Financial Markets now owns 3,633 shares of the oil and gas company’s stock valued at $98,000 after purchasing an additional 1,178 shares during the period. Quantbot Technologies LP acquired a new position in shares of CVR Energy in the 2nd quarter valued at $114,000. Tower Research Capital LLC TRC grew its holdings in shares of CVR Energy by 432.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,846 shares of the oil and gas company’s stock worth $184,000 after purchasing an additional 5,560 shares during the period. Finally, ProShare Advisors LLC acquired a new stake in shares of CVR Energy during the 3rd quarter worth about $212,000. Institutional investors and hedge funds own 98.88% of the company’s stock.

Insider Activity

In related news, major shareholder Carl C. Icahn bought 275,012 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was purchased at an average cost of $21.41 per share, with a total value of $5,888,006.92. Following the purchase, the insider directly owned 71,201,875 shares of the company’s stock, valued at $1,524,432,143.75. This trade represents a 0.39% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders acquired 783,404 shares of company stock valued at $16,445,044 in the last 90 days. 0.01% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CVI shares. Wall Street Zen cut shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Weiss Ratings lowered shares of CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a report on Friday, February 20th. One analyst has rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Strong Sell” and a consensus target price of $29.25.

CVR Energy Stock Performance

NYSE CVI opened at $26.45 on Thursday. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.79 and a quick ratio of 1.13. The company has a market cap of $2.66 billion, a P/E ratio of 101.73 and a beta of 1.12. The stock has a 50-day moving average of $23.71 and a two-hundred day moving average of $30.14. CVR Energy Inc. has a 1-year low of $15.10 and a 1-year high of $41.67.

CVR Energy (NYSE:CVI) last posted its quarterly earnings data on Wednesday, February 18th. The oil and gas company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($0.84) by $0.04. CVR Energy had a net margin of 0.38% and a negative return on equity of 14.31%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the firm posted ($0.13) earnings per share. The business’s revenue for the quarter was down 7.0% compared to the same quarter last year. As a group, analysts anticipate that CVR Energy Inc. will post -0.12 EPS for the current year.

CVR Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 9th. Stockholders of record on Monday, March 2nd will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.6%.

CVR Energy Company 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.