CVR Energy, Inc. (NYSE:CVI) Short Interest Update

CVR Energy, Inc. (NYSE:CVIGet Free Report) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 6,850,000 shares, an increase of 7.2% from the February 29th total of 6,390,000 shares. Based on an average daily volume of 902,700 shares, the short-interest ratio is presently 7.6 days. Currently, 6.8% of the company’s stock are short sold.

Institutional Investors Weigh In On CVR Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in shares of CVR Energy by 109.6% during the 1st quarter. BlackRock Inc. now owns 4,650,894 shares of the oil and gas company’s stock valued at $152,456,000 after acquiring an additional 2,432,131 shares during the period. Millennium Management LLC raised its holdings in shares of CVR Energy by 355.2% in the fourth quarter. Millennium Management LLC now owns 847,879 shares of the oil and gas company’s stock valued at $26,573,000 after purchasing an additional 661,621 shares during the last quarter. Norges Bank purchased a new stake in shares of CVR Energy in the fourth quarter valued at about $15,619,000. State Street Corp raised its holdings in shares of CVR Energy by 25.4% in the third quarter. State Street Corp now owns 2,338,969 shares of the oil and gas company’s stock valued at $67,783,000 after purchasing an additional 474,471 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in CVR Energy by 12.1% during the fourth quarter. Vanguard Group Inc. now owns 3,934,944 shares of the oil and gas company’s stock valued at $119,229,000 after buying an additional 424,348 shares during the period. 98.88% of the stock is owned by institutional investors.

CVR Energy Stock Performance

Shares of CVI traded up $1.67 during midday trading on Wednesday, reaching $38.03. The stock had a trading volume of 441,806 shares, compared to its average volume of 934,194. The firm has a 50 day simple moving average of $34.22 and a 200-day simple moving average of $32.58. CVR Energy has a one year low of $22.60 and a one year high of $39.36. The firm has a market cap of $3.82 billion, a PE ratio of 4.75 and a beta of 1.57. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 1.52.

CVR Energy (NYSE:CVIGet Free Report) last announced its earnings results on Tuesday, February 20th. The oil and gas company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.25 by $0.40. CVR Energy had a net margin of 8.32% and a return on equity of 55.17%. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.26 billion. As a group, sell-side analysts anticipate that CVR Energy will post 2.63 EPS for the current year.

CVR Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, March 4th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.26%. The ex-dividend date was Friday, March 1st. CVR Energy’s dividend payout ratio (DPR) is presently 26.14%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CVI. StockNews.com downgraded shares of CVR Energy from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Scotiabank downgraded shares of CVR Energy from a “sector perform” rating to a “sector underperform” rating and decreased their price objective for the company from $28.00 to $25.00 in a research report on Tuesday, January 16th.

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About CVR Energy

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CVR Energy, Inc, together with its subsidiaries, engages in the petroleum refining and marketing, and nitrogen fertilizer manufacturing activities in the United States. It operates in two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment refines and supplies gasoline, crude oil, distillate, diesel fuel, and other refined products.

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