Royce & Associates LP Sells 19,280 Shares of CVR Energy Inc. $CVI

Royce & Associates LP decreased its holdings in shares of CVR Energy Inc. (NYSE:CVI) by 27.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 49,939 shares of the oil and gas company’s stock after selling 19,280 shares during the quarter. Royce & Associates LP’s holdings in CVR Energy were worth $1,822,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Citigroup Inc. boosted its holdings in CVR Energy by 95.6% during the 3rd quarter. Citigroup Inc. now owns 391,985 shares of the oil and gas company’s stock valued at $14,300,000 after acquiring an additional 191,584 shares during the period. Allianz Asset Management GmbH boosted its stake in shares of CVR Energy by 69.3% during the third quarter. Allianz Asset Management GmbH now owns 458,214 shares of the oil and gas company’s stock valued at $16,716,000 after purchasing an additional 187,620 shares during the period. Quantbot Technologies LP grew its holdings in shares of CVR Energy by 3,180.1% in the third quarter. Quantbot Technologies LP now owns 139,406 shares of the oil and gas company’s stock worth $5,086,000 after purchasing an additional 135,156 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of CVR Energy by 50.2% in the second quarter. Bank of America Corp DE now owns 351,092 shares of the oil and gas company’s stock worth $9,427,000 after purchasing an additional 117,305 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in CVR Energy by 249.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 149,748 shares of the oil and gas company’s stock worth $4,021,000 after buying an additional 106,854 shares during the period. 98.88% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, major shareholder Carl C. Icahn purchased 275,012 shares of the firm’s stock in a transaction on Tuesday, February 24th. The stock was acquired at an average cost of $21.41 per share, with a total value of $5,888,006.92. Following the completion of the transaction, the insider owned 71,201,875 shares in the company, valued at $1,524,432,143.75. This represents a 0.39% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have bought 783,404 shares of company stock valued at $16,445,044 in the last ninety days. Insiders own 0.01% of the company’s stock.

CVR Energy Stock Performance

Shares of NYSE:CVI opened at $27.13 on Friday. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 104.35 and a beta of 1.12. CVR Energy Inc. has a 52 week low of $15.10 and a 52 week high of $41.67. The company has a quick ratio of 1.13, a current ratio of 1.79 and a debt-to-equity ratio of 1.95. The firm has a 50 day moving average of $23.72 and a 200 day moving average of $30.12.

CVR Energy (NYSE:CVI) last announced its earnings results on Wednesday, February 18th. The oil and gas company reported ($0.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.84) by $0.04. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.70 billion. CVR Energy had a negative return on equity of 14.31% and a net margin of 0.38%.The business’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.13) EPS. On average, sell-side analysts predict that CVR Energy Inc. will post -0.12 earnings per share for the current fiscal year.

CVR Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 9th. Shareholders of record on Monday, March 2nd will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 5.5%. The ex-dividend date is Monday, March 2nd. CVR Energy’s payout ratio is 569.23%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CVI. Weiss Ratings downgraded shares of CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research note on Friday, February 20th. Wall Street Zen lowered CVR Energy from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. One analyst has rated the stock with a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, CVR Energy has an average rating of “Strong Sell” and an average price target of $29.25.

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.