Everence Capital Management Inc. Grows Stake in CVR Energy, Inc. (NYSE:CVI)

Everence Capital Management Inc. raised its stake in CVR Energy, Inc. (NYSE:CVI) by 69.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,360 shares of the oil and gas company’s stock after acquiring an additional 12,880 shares during the period. Everence Capital Management Inc.’s holdings in CVR Energy were worth $950,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its holdings in CVR Energy by 9.1% in the second quarter. BlackRock Inc. now owns 5,075,694 shares of the oil and gas company’s stock valued at $152,068,000 after acquiring an additional 424,800 shares during the period. Vanguard Group Inc. grew its position in shares of CVR Energy by 2.5% during the third quarter. Vanguard Group Inc. now owns 3,275,218 shares of the oil and gas company’s stock worth $94,916,000 after purchasing an additional 79,797 shares in the last quarter. State Street Corp grew its position in shares of CVR Energy by 10.4% during the second quarter. State Street Corp now owns 2,606,337 shares of the oil and gas company’s stock worth $78,086,000 after purchasing an additional 245,759 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of CVR Energy by 16.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,667,912 shares of the oil and gas company’s stock worth $54,674,000 after purchasing an additional 229,628 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of CVR Energy by 30.3% during the first quarter. Renaissance Technologies LLC now owns 1,304,184 shares of the oil and gas company’s stock worth $42,751,000 after purchasing an additional 303,500 shares in the last quarter. 98.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Scotiabank increased their target price on CVR Energy from $25.00 to $29.00 and gave the stock a “sector underperform” rating in a research report on Thursday, April 11th. StockNews.com cut CVR Energy from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd.

CVR Energy Stock Performance

NYSE CVI opened at $33.40 on Thursday. The stock has a market capitalization of $3.36 billion, a PE ratio of 4.37 and a beta of 1.57. The business has a 50 day simple moving average of $34.76 and a two-hundred day simple moving average of $32.70. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.30 and a quick ratio of 0.94. CVR Energy, Inc. has a 1-year low of $22.60 and a 1-year high of $39.36.

CVR Energy (NYSE:CVI) last released its quarterly earnings results on Tuesday, February 20th. The oil and gas company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.40. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.26 billion. CVR Energy had a return on equity of 55.17% and a net margin of 8.32%. On average, research analysts predict that CVR Energy, Inc. will post 2.73 EPS for the current fiscal year.

CVR Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, March 4th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.99%. The ex-dividend date of this dividend was Friday, March 1st. CVR Energy’s dividend payout ratio (DPR) is 26.14%.

About CVR Energy

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.