CVR Partners (NYSE:UAN) Share Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• CVR Partners shares have crossed above their 200-day moving average, reaching a high of $97.84 before settling at $96.96.
• The company recently 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" to a "strong-buy" rating amid a positive outlook for the stock.

CVR Partners, LP (NYSE:UAN - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $81.32 and traded as high as $97.84. CVR Partners shares last traded at $96.96, with a volume of 38,857 shares.

Wall Street Analysts Forecast Growth

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

CVR Partners Stock Down 0.6%

The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.40 and a current ratio of 3.45. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 11.57 and a beta of 1.07. The business's 50 day simple moving average is $88.64 and its 200-day simple moving average is $81.51.

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

CVR Partners Increases Dividend

The firm also recently declared a dividend, which will be paid on Monday, August 18th. Shareholders of record on Tuesday, August 12th will be given a dividend of $3.89 per share. This represents a yield of 1,601.0%. This is a boost from CVR Partners's previous dividend of $2.26. The ex-dividend date of this dividend is Monday, August 11th. CVR Partners's dividend payout ratio (DPR) is presently 108.65%.

Institutional Trading of CVR Partners

A number of institutional investors have recently modified their holdings of UAN. SP Asset Management LLC acquired a new position in shares of CVR Partners in the 2nd quarter worth approximately $558,000. Apollon Wealth Management LLC lifted its holdings in CVR Partners by 17.4% during the 2nd quarter. Apollon Wealth Management LLC now owns 7,380 shares of the basic materials company's stock worth $656,000 after purchasing an additional 1,094 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of CVR Partners during the first quarter worth about $1,595,000. Advisors Asset Management Inc. bought a new stake in CVR Partners in the 1st quarter worth approximately $266,000. Finally, State of Wyoming increased its stake in CVR Partners by 45.4% in the 1st quarter. State of Wyoming now owns 3,310 shares of the basic materials company's stock worth $249,000 after purchasing an additional 1,033 shares during the period. 43.83% of the stock is currently owned by institutional investors.

About CVR Partners

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.