Hussman Strategic Advisors Inc. Takes Position in CVR Energy Inc. $CVI

Key Points

• Hussman Strategic Advisors bought 42,000 shares of CVR Energy (NYSE:CVI) in Q4, a stake worth about $1.07 million, amid very high institutional ownership (98.88%).
• Carl C. Icahn acquired 275,012 shares on Feb. 24 at an average $21.41, raising his holdings to 71,201,875 shares, and insiders purchased 783,404 shares (~$16.45M) over the past three months.
• CVR missed earnings (EPS -$1.24 vs. -$0.54 expected) even as revenue rose 20.3% to $1.98B; the company announced a $0.10 quarterly dividend (1.2% yield) and the stock has a MarketBeat consensus of "Strong Sell" with an average target of $31.75.

Hussman Strategic Advisors Inc. purchased a new stake in CVR Energy Inc. (NYSE:CVI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 42,000 shares of the oil and gas company's stock, valued at approximately $1,068,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Illinois Municipal Retirement Fund increased its stake in shares of CVR Energy by 2.2% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 17,081 shares of the oil and gas company's stock valued at $623,000 after acquiring an additional 363 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of CVR Energy by 2.9% in 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 acquiring an additional 596 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of CVR Energy by 1.5% in the 3rd quarter. Alliancebernstein L.P. now owns 48,943 shares of the oil and gas company's stock valued at $1,785,000 after acquiring an additional 700 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of CVR Energy by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,301 shares of the oil and gas company's stock valued at $394,000 after acquiring an additional 858 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of CVR Energy by 3.1% in the 4th quarter. SG Americas Securities LLC now owns 28,848 shares of the oil and gas company's stock valued at $734,000 after acquiring an additional 873 shares during the last quarter. 98.88% of the stock is owned by institutional investors.

Insider Transactions at CVR Energy

In other CVR Energy news, major shareholder Carl C. Icahn bought 275,012 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was acquired at an average cost of $21.41 per share, with a total value of $5,888,006.92. Following the purchase, the insider owned 71,201,875 shares in the company, valued at $1,524,432,143.75. This trade represents a 0.39% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders purchased 783,404 shares of company stock worth $16,445,044. 0.01% of the stock is currently owned by corporate insiders.

CVR Energy Price Performance

NYSE CVI opened at $33.27 on Monday. The business has a 50 day simple moving average of $29.83 and a 200 day simple moving average of $29.69. CVR Energy Inc. has a 52-week low of $19.50 and a 52-week high of $41.67. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.89 and a current ratio of 1.44. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of -77.38 and a beta of 0.83.

CVR Energy (NYSE:CVI - Get Free Report) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported ($1.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.54) by ($0.70). CVR Energy had a negative return on equity of 22.36% and a negative net margin of 0.56%.The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the company posted ($0.58) earnings per share. CVR Energy's revenue for the quarter was up 20.3% compared to the same quarter last year. Analysts anticipate that CVR Energy Inc. will post 1.16 earnings per share for the current fiscal year.

CVR Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 18th. Investors of record on Monday, May 11th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, May 11th.

Analysts Set New Price Targets

A number of brokerages have recently commented on CVI. Scotiabank upped their price target on CVR Energy from $25.00 to $28.00 and gave the company a "sector underperform" rating in a research note on Wednesday, April 22nd. Wall Street Zen raised CVR Energy from a "sell" rating to a "hold" rating in a research note on Saturday. The Goldman Sachs Group began coverage on CVR Energy in a research note on Friday, April 10th. They issued a "sell" rating and a $30.00 price target for the company. Mizuho upped their price target on CVR Energy from $28.00 to $32.00 and gave the company an "underperform" rating in a research note on Tuesday, March 17th. Finally, Raymond James Financial raised CVR Energy from an "underperform" rating to a "market perform" rating in a research note on Wednesday, March 25th. Two investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Strong Sell" and an average target price of $31.75.

About CVR Energy

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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