NFJ Investment Group LLC Buys Shares of 79,805 CVR Energy Inc. $CVI

Key Points

• NFJ Investment Group bought 79,805 CVR Energy shares worth approximately $2.2 million, giving it a 0.08% stake. Institutional investors collectively own 98.88% of the company.
• CVR Energy reported quarterly EPS of $0.34, beating estimates of $0.26, while revenue rose 55.5% year over year to $2.74 billion.
• Despite the stock trading near its 12-month high after an 11.4% rise, analysts remain bearish: CVR Energy has a consensus “Strong Sell” rating and an average price target of $30.50 versus its $39.90 share price.

NFJ Investment Group LLC acquired a new position in CVR Energy Inc. (NYSE:CVI - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 79,805 shares of the oil and gas company's stock, valued at approximately $2,198,000. NFJ Investment Group LLC owned about 0.08% of CVR Energy at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its holdings in shares of CVR Energy by 44.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,102 shares of the oil and gas company's stock worth $37,000 after purchasing an additional 339 shares in the last quarter. PNC Financial Services Group Inc. grew 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 purchasing an additional 388 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in CVR Energy during the fourth quarter worth about $40,000. Horizon Investments LLC bought a new stake in CVR Energy during the 4th quarter worth approximately $47,000. Finally, Quarry LP acquired a new stake in shares of CVR Energy in the third quarter valued at $50,000. Institutional investors own 98.88% of the company's stock.

CVR Energy Trading Up 11.4%

CVI opened at $39.90 on Friday. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of 58.68 and a beta of 0.83. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 2.38. CVR Energy Inc. has a twelve month low of $19.62 and a twelve month high of $41.67. The company has a 50-day simple moving average of $32.04 and a 200 day simple moving average of $30.65.

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 the consensus estimate of $0.26 by $0.08. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.22 billion. CVR Energy had a net margin of 0.81% and a negative return on equity of 15.21%. The firm's revenue was up 55.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.23) EPS. Analysts predict that CVR Energy Inc. will post 0.79 EPS for the current fiscal year.

CVR Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 10th were paid a $0.10 dividend. The ex-dividend date was Monday, August 10th. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. CVR Energy's dividend payout ratio (DPR) is currently 58.82%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Mizuho lifted their target price on CVR Energy from $28.00 to $29.00 and gave the company an "underperform" rating in a research note on Tuesday, August 4th. Zacks Research upgraded shares of CVR Energy from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th. Weiss Ratings reiterated a "sell (d-)" rating on shares of CVR Energy in a report on Wednesday, August 12th. Tudor Pickering cut CVR Energy from a "hold" rating to a "sell" rating in a report on Thursday, June 4th. Finally, UBS Group reaffirmed a "neutral" rating and set a $35.00 price target on shares of CVR Energy in a research note on Monday, June 29th. Three analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Strong Sell" and an average target price of $30.50.

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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