UBS Group AG Increases Stake in CVR Energy Inc. $CVI

Key Points

• UBS Group AG increased its CVR Energy stake by 32.2% in the fourth quarter, adding 206,861 shares to reach 850,042 shares valued at about $21.6 million.
• CVR Energy reported a wider-than-expected quarterly loss, posting EPS of $(1.24) versus estimates of $(0.54), even though revenue of $1.98 billion beat expectations and rose 20.3% year over year.
• The company declared a quarterly dividend of $0.10 per share payable on May 18, implying an annualized yield of about 1.1%, while analysts remain cautious with a consensus rating of Strong Sell.

UBS Group AG grew its holdings in CVR Energy Inc. (NYSE:CVI - Free Report) by 32.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 850,042 shares of the oil and gas company's stock after acquiring an additional 206,861 shares during the period. UBS Group AG owned 0.85% of CVR Energy worth $21,625,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Royal Bank of Canada raised its holdings in CVR Energy by 67.2% in the 1st quarter. Royal Bank of Canada now owns 14,904 shares of the oil and gas company's stock worth $289,000 after purchasing an additional 5,992 shares during the period. AQR Capital Management LLC purchased a new stake in CVR Energy in the first quarter worth about $611,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in CVR Energy by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,301 shares of the oil and gas company's stock worth $394,000 after buying an additional 858 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of CVR Energy by 14.8% in the first quarter. Goldman Sachs Group Inc. now owns 496,650 shares of the oil and gas company's stock worth $9,635,000 after buying an additional 63,909 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of CVR Energy by 34.2% in the second quarter. JPMorgan Chase & Co. now owns 273,777 shares of the oil and gas company's stock worth $7,351,000 after buying an additional 69,726 shares during the period. Hedge funds and other institutional investors own 98.88% of the company's stock.

CVR Energy Stock Performance

Shares of NYSE:CVI opened at $34.90 on Tuesday. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of -81.16 and a beta of 0.83. CVR Energy Inc. has a 12 month low of $19.62 and a 12 month high of $41.67. The firm's 50-day moving average is $31.01 and its 200 day moving average is $29.67. The company has a current ratio of 1.44, a quick ratio of 0.89 and a debt-to-equity ratio of 2.41.

CVR Energy (NYSE:CVI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.70). The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.73 billion. CVR Energy had a negative return on equity of 22.36% and a negative net margin of 0.56%.The firm's revenue for the quarter was up 20.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.58) EPS. Research analysts predict that CVR Energy Inc. will post 0.88 EPS for the current year.

CVR Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 18th. Shareholders of record on Monday, May 11th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, May 11th.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. The Goldman Sachs Group initiated coverage on shares of CVR Energy in a research note on Friday, April 10th. They set a "sell" rating and a $30.00 target price on the stock. Weiss Ratings upgraded shares of CVR Energy from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, May 1st. Wall Street Zen raised CVR Energy from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Mizuho upped 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, March 17th. Finally, Scotiabank increased 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. Two research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, CVR Energy presently has an average rating of "Strong Sell" and a consensus price target of $31.75.

Insider Buying and Selling

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

CVR Energy Company 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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