Dimensional Fund Advisors LP Purchases 265,013 Shares of CVR Energy Inc. $CVI

Key Points

• Dimensional Fund Advisors increased its CVR Energy stake by 16.1%, purchasing 265,013 shares to own 1.91 million shares, or 1.9% of the company. Institutional investors collectively hold 98.88% of CVI’s outstanding stock.
• CVR Energy exceeded quarterly expectations, reporting $0.34 in EPS versus the $0.26 consensus estimate and $2.74 billion in revenue, up 55.5% year over year.
• The company declared a quarterly dividend of $0.10 per share, but analyst sentiment remains negative: CVI has an average “Strong Sell” rating and a consensus price target of $30.25.

Dimensional Fund Advisors LP raised its position in CVR Energy Inc. (NYSE:CVI - Free Report) by 16.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,908,062 shares of the oil and gas company's stock after buying an additional 265,013 shares during the period. Dimensional Fund Advisors LP owned 1.90% of CVR Energy worth $64,220,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. D.A. Davidson & CO. purchased a new stake in shares of CVR Energy during the 1st quarter valued at approximately $1,248,000. Principal Financial Group Inc. lifted its position in shares of CVR Energy by 2.2% during the first quarter. Principal Financial Group Inc. now owns 147,522 shares of the oil and gas company's stock worth $4,964,000 after acquiring an additional 3,217 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of CVR Energy by 662.0% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 57,582 shares of the oil and gas company's stock worth $1,937,000 after acquiring an additional 50,025 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of CVR Energy in the first quarter valued at $251,000. Finally, Fifth Third Bancorp raised its stake in shares of CVR Energy by 6,664.4% during the 1st quarter. Fifth Third Bancorp now owns 7,035 shares of the oil and gas company's stock valued at $237,000 after purchasing an additional 6,931 shares during the period. 98.88% of the stock is currently owned by institutional investors.

CVR Energy Trading Down 6.8%

Shares of CVI stock opened at $35.51 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 2.38. The business has a 50-day moving average price of $31.55 and a two-hundred day moving average price of $29.47. CVR Energy Inc. has a 12-month low of $19.62 and a 12-month high of $41.67. The firm has a market cap of $3.57 billion, a P/E ratio of 52.22 and a beta of 0.83.

CVR Energy (NYSE:CVI - Get Free Report) 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. CVR Energy had a net margin of 0.81% and a negative return on equity of 15.21%. The company had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.22 billion. During the same quarter last year, the company earned ($0.23) EPS. The firm's revenue was up 55.5% compared to the same quarter last year. Equities analysts anticipate that CVR Energy Inc. will post -0.21 EPS for the current fiscal year.

CVR Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 10th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, August 10th. CVR Energy's dividend payout ratio is 58.82%.

Analyst Ratings Changes

CVI has been the topic of a number of recent analyst reports. Mizuho lowered their price target on shares of CVR Energy from $35.00 to $28.00 and set an "underperform" rating on the stock in a report on Tuesday, July 7th. Tudor Pickering lowered shares of CVR Energy from a "hold" rating to a "sell" rating in a research report on Thursday, June 4th. Scotiabank increased their price objective on CVR Energy from $25.00 to $28.00 and gave the stock a "sector underperform" rating in a research report on Wednesday, April 22nd. Weiss Ratings lowered CVR Energy from a "sell (d+)" rating to a "sell (d-)" rating in a research note on Friday, May 15th. Finally, The Goldman Sachs Group began coverage on CVR Energy in a research report on Friday, April 10th. They set a "sell" rating and a $30.00 target price for the company. Two equities research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Strong Sell" and an average target price of $30.25.

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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