Engineers Gate Manager LP Buys New Holdings in CVR Energy Inc. $CVI

Key Points

• Engineers Gate Manager LP initiated a CVR Energy position by buying 32,800 shares valued at approximately $903,000. Institutional investors collectively own 98.88% of the company.
• Analyst sentiment remains negative: CVR Energy has a consensus rating of “Strong Sell” and an average price target of $30.50, despite some recent upgrades and target changes.
• CVR Energy exceeded quarterly expectations, reporting $0.34 in EPS versus a $0.26 estimate and $2.74 billion in revenue, up 55.5% year over year. The company also paid a quarterly dividend of $0.10 per share.

Engineers Gate Manager LP purchased a new position in CVR Energy Inc. (NYSE:CVI - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 32,800 shares of the oil and gas company's stock, valued at approximately $903,000.

Other large investors have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC purchased a new stake in CVR Energy during the second quarter worth approximately $92,000. NewEdge Advisors LLC grew its holdings in shares of CVR Energy by 2.5% during the second quarter. NewEdge Advisors LLC now owns 13,890 shares of the oil and gas company's stock worth $383,000 after purchasing an additional 336 shares during the last quarter. Squarepoint Ops LLC increased its position in shares of CVR Energy by 95.0% during the second quarter. Squarepoint Ops LLC now owns 218,382 shares of the oil and gas company's stock worth $6,014,000 after purchasing an additional 106,406 shares in the last quarter. Nykredit A S purchased a new position in CVR Energy during the 2nd quarter worth approximately $29,000. Finally, Amundi grew its stake in CVR Energy by 13.6% during the 2nd quarter. Amundi now owns 23,147 shares of the oil and gas company's stock worth $637,000 after buying an additional 2,766 shares during the last quarter. Hedge funds and other institutional investors own 98.88% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded CVR Energy from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Zacks Research upgraded shares of CVR Energy from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. UBS Group reissued a "neutral" rating and set a $35.00 price objective on shares of CVR Energy in a research report on Monday, June 29th. Mizuho lifted their price objective on shares of CVR Energy from $28.00 to $29.00 and gave the company an "underperform" rating in a research note on Tuesday, August 4th. Finally, Tudor Pickering cut shares of CVR Energy from a "hold" rating to a "sell" rating in a report on Thursday, June 4th. Three analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, CVR Energy currently has a consensus rating of "Strong Sell" and a consensus target price of $30.50.

CVR Energy Price Performance

Shares of NYSE CVI opened at $53.66 on Friday. The firm has a market capitalization of $5.39 billion, a P/E ratio of 78.91 and a beta of 0.85. CVR Energy Inc. has a one year low of $19.62 and a one year high of $54.64. The company's fifty day moving average is $38.92 and its two-hundred day moving average is $33.81. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.92 and a current ratio of 1.42.

CVR Energy (NYSE:CVI - Get Free Report) last announced its quarterly earnings results 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. CVR Energy had a net margin of 0.81% and a negative return on equity of 15.21%. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter last year, the firm posted ($0.23) EPS. The business's revenue was up 55.5% compared to the same quarter last year. Analysts forecast that CVR Energy Inc. will post 1.56 EPS for the current fiscal year.

CVR Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 10th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.7%. CVR Energy's dividend payout ratio (DPR) is 58.82%.

CVR Energy Profile

CVR Energy, Inc NYSE: CVI is a diversified energy company that operates through its petroleum refining and nitrogen fertilizer businesses. The company's operations are primarily located in the Mid-Continent region of the United States.

Through its petroleum segment, CVR Energy owns and operates refineries in Coffeyville, Kansas, and Wynnewood, Oklahoma. These facilities process crude oil into transportation fuels and other refined products, including gasoline, diesel fuel, jet fuel, and asphalt.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.