Thomist Capital Management LP Acquires Shares of 93,326 CVR Energy Inc. $CVI

Key Points

• Thomist Capital Management acquired 93,326 shares of CVR Energy during the second quarter, worth approximately $2.57 million. The position represents about 0.09% of CVR Energy and 0.8% of Thomist’s portfolio.
• 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. The company also declared a quarterly dividend of $0.10 per share, equivalent to a 1.1% annualized yield.
• Despite the stock trading at $37.93, above analysts’ average target of $30.50, Wall Street maintains a “Strong Sell” consensus, with three Hold ratings and five Sell ratings.

Thomist Capital Management LP acquired a new stake in CVR Energy Inc. (NYSE:CVI - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 93,326 shares of the oil and gas company's stock, valued at approximately $2,570,000. CVR Energy accounts for approximately 0.8% of Thomist Capital Management LP's investment portfolio, making the stock its 28th largest holding. Thomist Capital Management LP owned approximately 0.09% of CVR Energy as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of CVI. EverSource Wealth Advisors LLC lifted its position 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 buying an additional 339 shares during the period. PNC Financial Services Group Inc. grew its position in CVR Energy by 51.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,142 shares of the oil and gas company's stock valued at $38,000 after acquiring an additional 388 shares during the period. Victory Capital Management Inc. grew its position in CVR Energy by 2.9% in the third 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 period. Illinois Municipal Retirement Fund raised its stake in CVR Energy by 3.9% during the fourth quarter. Illinois Municipal Retirement Fund now owns 17,741 shares of the oil and gas company's stock worth $451,000 after acquiring an additional 660 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in 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 worth $1,785,000 after acquiring an additional 700 shares in the last quarter. 98.88% of the stock is owned by institutional investors and hedge funds.

CVR Energy Stock Performance

CVR Energy stock opened at $37.93 on Tuesday. The stock has a 50-day simple moving average of $32.22 and a 200 day simple moving average of $30.82. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 55.78 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 12-month low of $19.62 and a 12-month high of $41.67.

CVR Energy (NYSE:CVI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.08. The firm 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 company's revenue was up 55.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.23) EPS. On average, research analysts anticipate that CVR Energy Inc. will post 0.79 earnings per share for the current fiscal year.

CVR Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 10th were paid 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 was Monday, August 10th. CVR Energy's dividend payout ratio is 58.82%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CVI shares. Zacks Research upgraded shares of CVR Energy from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. Mizuho increased their target price on shares of CVR Energy from $28.00 to $29.00 and gave the stock an "underperform" rating in a research report on Tuesday, August 4th. Weiss Ratings restated a "sell (d-)" rating on shares of CVR Energy in a research report on Wednesday, August 12th. Tudor Pickering cut shares of CVR Energy from a "hold" rating to a "sell" rating in a research note on Thursday, June 4th. Finally, Wall Street Zen raised shares of CVR Energy from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Three research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Strong Sell" and an average target price of $30.50.

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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