Bank of New York Mellon Corp Makes New $5.08 Million Investment in CVR Energy Inc. $CVI

Key Points

• Bank of New York Mellon acquired 184,353 shares of CVR Energy worth approximately $5.08 million, representing about 0.18% of the company. Institutional investors collectively own 98.88% of CVR Energy.
• CVR Energy reported quarterly EPS of $0.34, exceeding estimates of $0.26, while revenue rose 55.5% year over year to $2.74 billion.
• Shares climbed to $44.54, near their 52-week high, despite analysts maintaining a largely negative outlook: the consensus rating is “Strong Sell” with a $30.50 target price. The company also declared a $0.10 quarterly dividend.

Bank of New York Mellon Corp bought a new stake in CVR Energy Inc. (NYSE:CVI - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 184,353 shares of the oil and gas company's stock, valued at approximately $5,077,000. Bank of New York Mellon Corp owned about 0.18% of CVR Energy at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Royal Bank of Canada grew its position in shares of CVR Energy by 67.2% in the 1st quarter. Royal Bank of Canada now owns 14,904 shares of the oil and gas company's stock worth $289,000 after acquiring an additional 5,992 shares in the last quarter. AQR Capital Management LLC bought a new stake in shares of CVR Energy during the 1st quarter valued at about $611,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in CVR Energy by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,301 shares of the oil and gas company's stock worth $394,000 after acquiring an additional 858 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of CVR Energy by 14.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 496,650 shares of the oil and gas company's stock worth $9,635,000 after acquiring an additional 63,909 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of CVR Energy by 34.2% in the second quarter. JPMorgan Chase & Co. now owns 273,777 shares of the oil and gas company's stock worth $7,351,000 after purchasing an additional 69,726 shares in the last quarter. Institutional investors and hedge funds own 98.88% of the company's stock.

CVR Energy Stock Up 2.2%

CVR Energy stock opened at $44.54 on Friday. The company has a fifty day simple moving average of $34.79 and a 200 day simple moving average of $31.89. CVR Energy Inc. has a 1-year low of $19.62 and a 1-year high of $44.65. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 2.38. The company has a market cap of $4.48 billion, a P/E ratio of 65.50 and a beta of 0.85.

CVR Energy (NYSE:CVI - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.08. The company had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.22 billion. CVR Energy had a negative return on equity of 15.21% and a net margin of 0.81%.The business's revenue was up 55.5% on a year-over-year basis. During the same period last year, the firm posted ($0.23) earnings per share. Research analysts anticipate that CVR Energy Inc. will post 0.79 earnings per share for the current fiscal year.

CVR Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 10th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.9%. CVR Energy's dividend payout ratio is presently 58.82%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CVI. Zacks Research raised shares of CVR Energy from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. Tudor Pickering downgraded shares of CVR Energy from a "hold" rating to a "sell" rating in a research note on Thursday, June 4th. Weiss Ratings restated a "sell (d-)" rating on shares of CVR Energy in a research note on Wednesday, August 12th. Mizuho upped their target price on shares of CVR Energy from $28.00 to $29.00 and gave the stock an "underperform" rating in a report on Tuesday, August 4th. Finally, Wall Street Zen raised shares of CVR Energy from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Three research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Strong Sell" and a consensus target price of $30.50.

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.

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