Neo Ivy Capital Management Buys 40,721 Shares of CVR Energy Inc. $CVI

Neo Ivy Capital Management increased its stake in shares of CVR Energy Inc. (NYSE:CVI) by 165.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,340 shares of the oil and gas company’s stock after purchasing an additional 40,721 shares during the quarter. Neo Ivy Capital Management owned approximately 0.06% of CVR Energy worth $2,384,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CVI. Citigroup Inc. grew its stake in CVR Energy by 95.6% in the third quarter. Citigroup Inc. now owns 391,985 shares of the oil and gas company’s stock valued at $14,300,000 after purchasing an additional 191,584 shares during the last quarter. Allianz Asset Management GmbH lifted its position in shares of CVR Energy by 69.3% during the third quarter. Allianz Asset Management GmbH now owns 458,214 shares of the oil and gas company’s stock valued at $16,716,000 after buying an additional 187,620 shares during the last quarter. Quantbot Technologies LP boosted its holdings in shares of CVR Energy by 3,180.1% in the 3rd quarter. Quantbot Technologies LP now owns 139,406 shares of the oil and gas company’s stock valued at $5,086,000 after buying an additional 135,156 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of CVR Energy by 50.2% in the 2nd quarter. Bank of America Corp DE now owns 351,092 shares of the oil and gas company’s stock valued at $9,427,000 after buying an additional 117,305 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of CVR Energy by 249.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 149,748 shares of the oil and gas company’s stock worth $4,021,000 after buying an additional 106,854 shares during the last quarter. Institutional investors own 98.88% of the company’s stock.

Wall Street Analysts Forecast Growth

CVI has been the subject of several recent analyst reports. Weiss Ratings lowered shares of CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research note on Friday, February 20th. Wall Street Zen downgraded shares of CVR Energy from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. One analyst has rated the stock with a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, CVR Energy currently has an average rating of “Strong Sell” and a consensus target price of $29.25.

CVR Energy Price Performance

Shares of NYSE CVI opened at $26.83 on Friday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.13 and a current ratio of 1.79. The company has a market cap of $2.70 billion, a PE ratio of 103.20 and a beta of 1.12. The business has a 50-day simple moving average of $23.74 and a two-hundred day simple moving average of $30.11. CVR Energy Inc. has a fifty-two week low of $15.10 and a fifty-two week 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) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.84) by $0.04. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.70 billion. CVR Energy had a net margin of 0.38% and a negative return on equity of 14.31%. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.13) earnings per share. As a group, equities analysts expect that CVR Energy Inc. will post -0.12 EPS for the current fiscal year.

CVR Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 9th. Shareholders of record on Monday, March 2nd will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend is Monday, March 2nd.

Insider Transactions at CVR Energy

In related news, major shareholder Carl C. Icahn purchased 275,012 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were acquired at an average price of $21.41 per share, for a total transaction of $5,888,006.92. Following the purchase, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have purchased 783,404 shares of company stock worth $16,445,044. Corporate insiders own 0.01% of the company’s stock.

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.