Intech Investment Management LLC Purchases 33,632 Shares of CVR Energy Inc. $CVI

Intech Investment Management LLC increased its position in shares of CVR Energy Inc. (NYSE:CVI) by 307.8% during the 4th quarter, Holdings Channel reports. The firm owned 44,557 shares of the oil and gas company’s stock after acquiring an additional 33,632 shares during the period. Intech Investment Management LLC’s holdings in CVR Energy were worth $1,134,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Illinois Municipal Retirement Fund raised its position in shares of CVR Energy by 2.2% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 17,081 shares of the oil and gas company’s stock valued at $623,000 after purchasing an additional 363 shares during the period. Victory Capital Management Inc. raised its position in shares of CVR Energy by 2.9% during the 3rd quarter. Victory Capital Management Inc. now owns 21,329 shares of the oil and gas company’s stock valued at $778,000 after purchasing an additional 596 shares during the period. Alliancebernstein L.P. raised its position in shares of CVR Energy by 1.5% during the 3rd quarter. Alliancebernstein L.P. now owns 48,943 shares of the oil and gas company’s stock valued at $1,785,000 after purchasing an additional 700 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of CVR Energy by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,301 shares of the oil and gas company’s stock valued at $394,000 after purchasing an additional 858 shares during the period. Finally, SG Americas Securities LLC raised its position in shares of CVR Energy by 3.1% during the 4th quarter. SG Americas Securities LLC now owns 28,848 shares of the oil and gas company’s stock valued at $734,000 after purchasing an additional 873 shares during the period. 98.88% of the stock is currently owned by institutional investors.

CVR Energy Stock Performance

CVI opened at $33.18 on Friday. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of -77.16 and a beta of 0.80. The company has a fifty day moving average of $32.84 and a 200 day moving average of $29.22. CVR Energy Inc. has a fifty-two week low of $19.62 and a fifty-two week high of $41.67. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.89 and a current ratio of 1.44.

CVR Energy (NYSE:CVI) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.70). The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.73 billion. CVR Energy had a negative net margin of 0.56% and a negative return on equity of 22.36%. The business’s revenue was up 20.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.58) earnings per share. As a group, sell-side analysts forecast that CVR Energy Inc. will post 1.04 earnings per share for the current fiscal year.

CVR Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 18th. Shareholders of record on Monday, May 11th were given a dividend of $0.10 per share. The ex-dividend date was Monday, May 11th. This represents a $0.40 annualized dividend and a yield of 1.2%. CVR Energy’s dividend payout ratio (DPR) is -93.02%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CVI. Raymond James Financial upgraded shares of CVR Energy from an “underperform” rating to a “market perform” rating in a research report on Wednesday, March 25th. Scotiabank raised their price objective on shares of CVR Energy from $25.00 to $28.00 and gave the company a “sector underperform” rating in a research report on Wednesday, April 22nd. Wall Street Zen upgraded shares of CVR Energy from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. The Goldman Sachs Group began coverage on shares of CVR Energy in a research report on Friday, April 10th. They set a “sell” rating and a $30.00 price objective on the stock. Finally, Tudor Pickering downgraded shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Thursday. Two investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, CVR Energy presently has an average rating of “Strong Sell” and a consensus target price of $32.50.

About CVR Energy

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.