Canada Pension Plan Investment Board Makes New Investment in CVR Energy Inc. $CVI

Canada Pension Plan Investment Board purchased a new stake in shares of CVR Energy Inc. (NYSE:CVI) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 12,800 shares of the oil and gas company’s stock, valued at approximately $353,000.

Several other large investors have also recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its holdings in shares of CVR Energy by 44.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,102 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 339 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of CVR Energy by 51.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,142 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 388 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in CVR Energy in the 4th quarter worth $40,000. Horizon Investments LLC purchased a new position in CVR Energy in the 4th quarter worth $47,000. Finally, Quarry LP bought a new stake in CVR Energy in the third quarter worth $50,000. 98.88% of the stock is owned by hedge funds and other institutional investors.

CVR Energy Stock Performance

Shares of NYSE:CVI opened at $43.54 on Friday. The company has a market cap of $4.38 billion, a price-to-earnings ratio of 64.03 and a beta of 0.85. The company has a 50-day moving average price of $34.44 and a 200-day moving average price of $31.80. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 2.38. CVR Energy Inc. has a 12 month low of $19.62 and a 12 month high of $44.33.

CVR Energy (NYSE:CVI) last posted its earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.08. CVR Energy had a negative return on equity of 15.21% and a net margin of 0.81%.The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same period last year, the firm earned ($0.23) earnings per share. CVR Energy’s quarterly revenue was up 55.5% on a year-over-year basis. As a group, equities analysts anticipate that CVR Energy Inc. will post 0.79 EPS for the current year.

CVR Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 10th were issued a $0.10 dividend. The ex-dividend date was Monday, August 10th. This represents a $0.40 annualized dividend and a yield of 0.9%. CVR Energy’s dividend payout ratio (DPR) is 58.82%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of CVR Energy in a research report on Wednesday, August 12th. Tudor Pickering lowered CVR Energy from a “hold” rating to a “sell” rating in a research note on Thursday, June 4th. Zacks Research raised CVR Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Wall Street Zen upgraded CVR Energy from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, Mizuho increased their price objective on CVR Energy from $28.00 to $29.00 and gave the company an “underperform” rating in a research note on Tuesday, August 4th. Three investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Strong Sell” and an average target price of $30.50.

CVR Energy 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.