Tudor Investment Corp ET AL Buys Shares of 609,028 CVR Energy Inc. $CVI

Key Points

• Tudor Investment Corp ET AL initiated a position in CVR Energy by purchasing 609,028 shares (about $22.2M), giving it roughly 0.61% ownership; institutional investors now own about 98.88% of the stock.
• Major shareholder Carl C. Icahn bought 275,012 shares at an average price of $21.41 (~$5.89M), increasing his holding to 71,201,875 shares, and insiders bought a total of 783,404 shares in the last 90 days.
• Fundamentals and sentiment are mixed: CVR recently beat EPS and revenue estimates, is trading with a 4.4% dividend yield (annualized $1.48) but a very high payout ratio (569%), and carries a consensus analyst grade of “Strong Sell” with a $30 average price target.

Tudor Investment Corp ET AL purchased a new position in CVR Energy Inc. (NYSE:CVI - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 609,028 shares of the oil and gas company's stock, valued at approximately $22,217,000. Tudor Investment Corp ET AL owned approximately 0.61% of CVR Energy at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in CVR Energy in the 3rd quarter worth approximately $50,000. Raymond James Financial Inc. acquired a new position in shares of CVR Energy in the second quarter worth $53,000. BNP Paribas Financial Markets raised its holdings in shares of CVR Energy by 48.0% during the second quarter. BNP Paribas Financial Markets now owns 3,633 shares of the oil and gas company's stock worth $98,000 after acquiring an additional 1,178 shares in the last quarter. Quantbot Technologies LP acquired a new stake in CVR Energy during the second quarter valued at $114,000. Finally, ProShare Advisors LLC acquired a new position in CVR Energy in the 3rd quarter worth about $212,000. 98.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CVR Energy

In other CVR Energy news, major shareholder Carl C. Icahn acquired 275,012 shares of the company's stock in a transaction dated Tuesday, February 24th. The shares were acquired at an average cost of $21.41 per share, for a total transaction of $5,888,006.92. Following the completion of the purchase, the insider owned 71,201,875 shares of the company's stock, valued at approximately $1,524,432,143.75. This trade represents a 0.39% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders bought 783,404 shares of company stock valued at $16,445,044 in the last 90 days. Insiders own 0.01% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CVI. Mizuho boosted their target price on shares of CVR Energy from $28.00 to $32.00 and gave the stock an "underperform" rating in a research report on Tuesday. Wall Street Zen raised shares of CVR Energy from a "sell" rating to a "hold" rating in a research note on Saturday. Weiss Ratings cut shares of CVR Energy from a "hold (c)" rating to a "sell (d)" rating in a report on Friday, February 20th. Finally, The Goldman Sachs Group increased their target price on shares of CVR Energy from $22.00 to $25.00 and gave the stock a "sell" rating in a research report on Thursday, March 12th. One research analyst has rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Strong Sell" and a consensus price target of $30.00.

CVR Energy Trading Up 5.2%

NYSE:CVI opened at $33.81 on Friday. The company's 50 day moving average is $24.66 and its 200-day moving average is $30.16. The company has a quick ratio of 1.13, a current ratio of 1.79 and a debt-to-equity ratio of 1.95. CVR Energy Inc. has a 12 month low of $15.10 and a 12 month high of $41.67. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 130.06 and a beta of 1.12.

CVR Energy (NYSE:CVI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 18th. The oil and gas company reported ($0.80) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.84) by $0.04. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.70 billion. CVR Energy had a net margin of 0.38% and a negative return on equity of 14.31%. CVR Energy's quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.13) EPS. Equities analysts anticipate that CVR Energy Inc. will post -0.12 EPS for the current year.

CVR Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Monday, March 2nd were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, March 2nd. CVR Energy's dividend payout ratio (DPR) is currently 569.23%.

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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