CVR Partners (NYSE:UAN) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• CVR Partners' share price has recently surpassed its 200-day moving average of $82.27, reaching a high of $90.70 during trading.
• The company has announced a significant dividend increase from $2.26 to $3.89 per share, resulting in a yield of 1,601.0%.
• Wall Street analysts upgraded CVR Partners from a "buy" rating to a "strong-buy" rating, indicating positive outlook for the company's growth.

CVR Partners, LP (NYSE:UAN - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $82.27 and traded as high as $90.70. CVR Partners shares last traded at $90.30, with a volume of 9,359 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded CVR Partners from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, April 30th.

CVR Partners Stock Performance

The business has a 50-day moving average of $90.59 and a two-hundred day moving average of $82.47. The company has a market cap of $1.55 billion, a P/E ratio of 10.88 and a beta of 1.07. The company has a debt-to-equity ratio of 1.80, a current ratio of 3.45 and a quick ratio of 2.40.

CVR Partners (NYSE:UAN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $3.67 earnings per share for the quarter. CVR Partners had a return on equity of 29.35% and a net margin of 15.27%.The company had revenue of $168.56 million for the quarter.

CVR Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 11th were given a dividend of $3.89 per share. The ex-dividend date of this dividend was Monday, August 11th. This is an increase from CVR Partners's previous quarterly dividend of $2.26. This represents a $15.56 dividend on an annualized basis and a yield of 17.2%. CVR Partners's dividend payout ratio is 187.02%.

Institutional Investors Weigh In On CVR Partners

Institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its holdings in CVR Partners by 13.4% in the fourth quarter. Bank of America Corp DE now owns 12,833 shares of the basic materials company's stock worth $975,000 after acquiring an additional 1,520 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in CVR Partners in the fourth quarter worth about $233,000. Susquehanna Fundamental Investments LLC acquired a new stake in CVR Partners in the fourth quarter worth about $480,000. Stifel Financial Corp acquired a new stake in CVR Partners in the fourth quarter worth about $227,000. Finally, De Lisle Partners LLP boosted its holdings in CVR Partners by 10.8% in the first quarter. De Lisle Partners LLP now owns 50,633 shares of the basic materials company's stock worth $3,805,000 after acquiring an additional 4,916 shares in the last quarter. Institutional investors and hedge funds own 43.83% of the company's stock.

CVR Partners Company Profile

CVR Partners, LP, together with its subsidiaries, engages in the production and sale of nitrogen fertilizer products in the United States. The company offers ammonia products for agricultural and industrial customers; and urea ammonium nitrate products to agricultural customers, as well as retailers and distributors.