State Street Corp Raises Stock Holdings in CVR Energy Inc. $CVI

Key Points

• State Street increased its CVR Energy stake by 11% in the second quarter, bringing its holdings to 2.15 million shares worth approximately $59.3 million. Institutional investors collectively own 98.88% of the company.
• CVR Energy reported quarterly EPS of $0.34, exceeding estimates of $0.26, while revenue rose 55.5% year over year to $2.74 billion. The company also pays a quarterly dividend of $0.10, yielding about 0.8% annually.
• Despite the stock trading near its 52-week high at $51.32, analysts remain cautious: CVR Energy has an average “Reduce” rating and a consensus price target of $30.50.

State Street Corp raised its stake in CVR Energy Inc. (NYSE:CVI - Free Report) by 11.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,153,498 shares of the oil and gas company's stock after acquiring an additional 213,829 shares during the quarter. State Street Corp owned about 2.14% of CVR Energy worth $59,315,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of CVI. BlackRock Inc. bought a new stake in shares of CVR Energy during the second quarter valued at approximately $143,262,000. Dimensional Fund Advisors LP boosted its position in CVR Energy by 16.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,908,062 shares of the oil and gas company's stock valued at $64,220,000 after buying an additional 265,013 shares during the last quarter. Bank of America Corp DE increased its stake in shares of CVR Energy by 19.4% in the 2nd quarter. Bank of America Corp DE now owns 671,728 shares of the oil and gas company's stock valued at $18,499,000 after buying an additional 109,338 shares during the period. PDT Partners LLC acquired a new stake in shares of CVR Energy in the 2nd quarter valued at $14,502,000. Finally, First Trust Advisors LP raised its position in shares of CVR Energy by 687.6% during the first quarter. First Trust Advisors LP now owns 263,448 shares of the oil and gas company's stock worth $8,865,000 after acquiring an additional 229,998 shares during the last quarter. 98.88% of the stock is owned by institutional investors.

CVR Energy Stock Down 0.9%

CVR Energy stock opened at $51.32 on Friday. The company's 50 day simple moving average is $40.43 and its 200 day simple moving average is $34.60. CVR Energy Inc. has a fifty-two week low of $19.62 and a fifty-two week high of $55.19. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of 75.48 and a beta of 0.85. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.42 and a quick ratio of 0.92.

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, beating the consensus estimate of $0.26 by $0.08. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.22 billion. CVR Energy had a net margin of 0.81% and a negative return on equity of 15.21%. The business's quarterly revenue was up 55.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.23) earnings per share. As a group, sell-side analysts anticipate that CVR Energy Inc. will post 1.56 EPS for the current year.

CVR Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 10th were given a $0.10 dividend. The ex-dividend date was Monday, August 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.8%. CVR Energy's dividend payout ratio is currently 58.82%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wall Street Zen raised CVR Energy from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. UBS Group reissued a "neutral" rating and set a $35.00 price objective on shares of CVR Energy in a report on Monday, June 29th. Zacks Research upgraded shares of CVR Energy from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. Mizuho raised their target price 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 research report on Thursday, June 4th. Four equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, CVR Energy has an average rating of "Reduce" and an average price target of $30.50.

CVR Energy Company 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.

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