First Trust Advisors LP Acquires 229,998 Shares of CVR Energy Inc. $CVI

First Trust Advisors LP boosted its stake in CVR Energy Inc. (NYSE:CVI - Free Report) by 687.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 263,448 shares of the oil and gas company's stock after purchasing an additional 229,998 shares during the quarter. First Trust Advisors LP owned about 0.26% of CVR Energy worth $8,865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its holdings in shares of CVR Energy by 51.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,142 shares of the oil and gas company's stock worth $38,000 after acquiring an additional 388 shares during the last quarter. Victory Capital Management Inc. boosted its position in CVR Energy by 2.9% during the 3rd quarter. Victory Capital Management Inc. now owns 21,329 shares of the oil and gas company's stock valued at $778,000 after buying an additional 596 shares during the period. Illinois Municipal Retirement Fund grew its stake in shares of CVR Energy by 3.9% in the fourth quarter. Illinois Municipal Retirement Fund now owns 17,741 shares of the oil and gas company's stock worth $451,000 after purchasing an additional 660 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of CVR Energy by 1.5% during the third quarter. Alliancebernstein L.P. now owns 48,943 shares of the oil and gas company's stock valued at $1,785,000 after buying an additional 700 shares during the period. Finally, NewEdge Advisors LLC increased its position in CVR Energy by 5.6% during the 4th quarter. NewEdge Advisors LLC now owns 13,394 shares of the oil and gas company's stock valued at $341,000 after purchasing an additional 709 shares during the period. Hedge funds and other institutional investors own 98.88% of the company's stock.

CVR Energy Price Performance

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

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 firm had revenue of $2.74 billion for 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 quarterly revenue was up 55.5% compared to the same quarter last year. On average, analysts expect that CVR Energy Inc. will post -0.21 earnings per share for the current year.

CVR Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, August 10th. CVR Energy's dividend payout ratio is presently 58.82%.

Analysts Set New Price Targets

CVI has been the subject of several recent research reports. Weiss Ratings lowered CVR Energy from a "sell (d+)" rating to a "sell (d-)" rating in a research report on Friday, May 15th. Mizuho lowered their price target on CVR Energy from $35.00 to $28.00 and set an "underperform" rating for the company in a research report on Tuesday, July 7th. 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. Tudor Pickering lowered shares of CVR Energy from a "hold" rating to a "sell" rating in a research note on Thursday, June 4th. Finally, Zacks Research downgraded shares of CVR Energy from a "hold" rating to a "strong sell" rating in a research note on Monday, July 6th. Two research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat, CVR Energy presently has a consensus rating of "Strong Sell" and an average price target of $30.25.

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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