JPMorgan Chase & Co. Has $13.87 Million Stock Holdings in CVR Energy Inc. $CVI

JPMorgan Chase & Co. boosted its holdings in shares of CVR Energy Inc. (NYSE:CVI) by 38.8% in the third quarter, Holdings Channel reports. The firm owned 380,127 shares of the oil and gas company’s stock after purchasing an additional 106,350 shares during the quarter. JPMorgan Chase & Co.’s holdings in CVR Energy were worth $13,867,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CVI. Royal Bank of Canada raised its holdings in shares of 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 buying an additional 5,992 shares in the last quarter. AQR Capital Management LLC bought a new stake in CVR Energy in the first quarter valued at $611,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 valued at $394,000 after acquiring an additional 858 shares during the period. Goldman Sachs Group Inc. raised its stake in CVR Energy by 14.8% during 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 acquiring an additional 63,909 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of CVR Energy during the second quarter valued at $236,000. 98.88% of the stock is currently owned by institutional investors.

Insider Activity

In related news, major shareholder Carl C. Icahn purchased 275,012 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The shares were acquired at an average cost of $21.41 per share, with a total value of $5,888,006.92. Following the completion of the purchase, the insider directly owned 71,201,875 shares of the company’s stock, valued at $1,524,432,143.75. This trade represents a 0.39% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased 783,404 shares of company stock worth $16,445,044 in the last quarter. 0.01% of the stock is currently owned by corporate insiders.

CVR Energy Price Performance

Shares of CVI stock opened at $34.81 on Friday. CVR Energy Inc. has a 52 week low of $15.10 and a 52 week high of $41.67. The stock has a market capitalization of $3.50 billion, a PE ratio of 133.91 and a beta of 1.12. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.13 and a current ratio of 1.79. The stock’s fifty day moving average is $25.68 and its 200-day moving average is $30.24.

CVR Energy (NYSE:CVI) last released its quarterly earnings results on Wednesday, February 18th. The oil and gas company reported ($0.80) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.04. CVR Energy had a negative return on equity of 14.31% and a net margin of 0.38%.The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the previous year, the business posted ($0.13) earnings per share. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. Equities research analysts expect that CVR Energy Inc. will post -0.12 EPS for the current fiscal year.

CVR Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Monday, March 2nd were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Monday, March 2nd.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CVI. Wall Street Zen upgraded shares of CVR Energy from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. The Goldman Sachs Group lifted their price target on shares of CVR Energy from $22.00 to $25.00 and gave the company a “sell” rating in a report on Thursday, March 12th. Mizuho boosted their price target on shares of CVR Energy from $28.00 to $32.00 and gave the company an “underperform” rating in a research report on Tuesday, March 17th. Raymond James Financial raised shares of CVR Energy from an “underperform” rating to a “market perform” rating in a research note on Wednesday. Finally, Weiss Ratings lowered shares of CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a report on Friday, February 20th. Two research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, CVR Energy presently has an average rating of “Strong Sell” and a consensus target price of $30.00.

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.