SummerHaven Investment Management LLC Acquires 30,948 Shares of CVR Energy Inc. $CVI

SummerHaven Investment Management LLC purchased a new stake in shares of CVR Energy Inc. (NYSE:CVI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 30,948 shares of the oil and gas company’s stock, valued at approximately $1,578,000. CVR Energy accounts for about 1.1% of SummerHaven Investment Management LLC’s holdings, making the stock its 15th largest position.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. bought a new position in CVR Energy in the second quarter worth about $143,262,000. State Street Corp raised its position in CVR Energy by 11.0% during the 2nd quarter. State Street Corp now owns 2,153,498 shares of the oil and gas company’s stock worth $59,315,000 after buying an additional 213,829 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of CVR Energy by 16.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,908,062 shares of the oil and gas company’s stock worth $64,220,000 after purchasing an additional 265,013 shares during the last quarter. Bank of America Corp DE raised its stake in shares of CVR Energy by 19.4% during the 2nd quarter. Bank of America Corp DE now owns 671,728 shares of the oil and gas company’s stock valued at $18,499,000 after buying an additional 109,338 shares during the last quarter. Finally, PDT Partners LLC acquired a new position in CVR Energy in the second quarter valued at approximately $14,502,000. Institutional investors own 98.88% of the company’s stock.

CVR Energy Stock Down 0.1%

Shares of NYSE:CVI opened at $61.61 on Friday. The stock has a market cap of $6.19 billion, a price-to-earnings ratio of 90.60 and a beta of 0.90. The firm’s 50 day moving average price is $47.74 and its 200 day moving average price is $37.49. CVR Energy Inc. has a fifty-two week low of $19.62 and a fifty-two week high of $63.51. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 2.38.

CVR Energy (NYSE:CVI) last issued its earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.08. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.22 billion. CVR Energy had a net margin of 0.81% and a negative return on equity of 15.21%. The company’s revenue was up 55.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.23) earnings per share. As a group, equities research analysts predict that CVR Energy Inc. will post 3.20 earnings per share for the current fiscal year.

CVR Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 10th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, August 10th. CVR Energy’s payout ratio is currently 58.82%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Weiss Ratings upgraded shares of CVR Energy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Zacks Research upgraded CVR Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. The Goldman Sachs Group raised their target price on shares of CVR Energy from $36.00 to $50.00 and gave the stock a “sell” rating in a research note on Friday, October 9th. UBS Group lifted their price target on CVR Energy from $35.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, October 2nd. Finally, Wall Street Zen upgraded CVR Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 10th. Four equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, CVR Energy has a consensus rating of “Reduce” and a consensus target price of $45.75.

CVR Energy Profile

CVR Energy, Inc is a diversified energy company engaged primarily in petroleum refining and nitrogen fertilizer production. Headquartered in Sugar Land, Texas, the company operates through subsidiaries that serve customers in the United States, with activities concentrated in the Midcontinent region.

Through its refining operations, CVR Energy processes crude oil into transportation fuels and other refined products, including gasoline, diesel fuel, jet fuel and asphalt. Its refineries are located in Coffeyville, Kansas, and Wynnewood, Oklahoma, and are supported by related logistics, storage and transportation assets.

CVR Energy also owns and operates nitrogen fertilizer facilities through CVR Partners, LP.