CVR Energy Inc. $CVI Shares Sold by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management reduced its CVR Energy stake by 4.8% in the second quarter, selling 47,194 shares and retaining 945,324 shares valued at approximately $26.0 million. Institutional investors collectively own 98.88% of CVI.
• Analyst sentiment remains weak, with a consensus “Strong Sell” rating from MarketBeat and an average price target of $30.50, despite some firms recently upgrading their views.
• CVR Energy reported quarterly EPS of $0.34, exceeding the $0.26 estimate, while revenue rose 55.5% year over year to $2.74 billion. The company also paid a quarterly dividend of $0.10 per share, representing a 0.9% annualized yield.

Allianz Asset Management GmbH reduced its stake in CVR Energy Inc. (NYSE:CVI - Free Report) by 4.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 945,324 shares of the oil and gas company's stock after selling 47,194 shares during the quarter. Allianz Asset Management GmbH owned 0.94% of CVR Energy worth $26,034,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CVI. UBS Group AG increased its stake in CVR Energy by 32.2% in the 4th quarter. UBS Group AG now owns 850,042 shares of the oil and gas company's stock valued at $21,625,000 after buying an additional 206,861 shares during the period. GSA Capital Partners LLP lifted its stake in shares of CVR Energy by 136.0% in the 4th quarter. GSA Capital Partners LLP now owns 51,991 shares of the oil and gas company's stock worth $1,323,000 after acquiring an additional 29,963 shares during the period. NFJ Investment Group LLC purchased a new stake in shares of CVR Energy in the second quarter valued at about $2,198,000. PDT Partners LLC purchased a new stake in shares of CVR Energy in the second quarter valued at about $14,502,000. Finally, Vanguard Group Inc. increased its stake in shares of CVR Energy by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 3,705,809 shares of the oil and gas company's stock worth $94,276,000 after acquiring an additional 106,906 shares during the period. Institutional investors and hedge funds own 98.88% of the company's stock.

Analysts Set New Price Targets

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

CVR Energy Stock Up 0.1%

CVI stock opened at $44.54 on Tuesday. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.42 and a quick ratio of 0.92. The company's 50 day simple moving average is $35.11 and its 200-day simple moving average is $32.11. CVR Energy Inc. has a 12 month low of $19.62 and a 12 month high of $44.65. The firm has a market capitalization of $4.48 billion, a PE ratio of 65.50 and a beta of 0.85.

CVR Energy (NYSE:CVI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate 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 negative return on equity of 15.21% and a net margin of 0.81%.The company's quarterly revenue was up 55.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.23) EPS. Equities analysts expect that CVR Energy Inc. will post 0.79 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. Investors of record on Monday, August 10th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Monday, August 10th. CVR Energy's dividend payout ratio (DPR) is currently 58.82%.

CVR Energy Company 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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