Texas Permanent School Fund Corp Increases Position in CVR Energy, Inc. (NYSE:CVI)

Texas Permanent School Fund Corp lifted its position in shares of CVR Energy, Inc. (NYSE:CVI) by 176.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,609 shares of the oil and gas company’s stock after purchasing an additional 45,094 shares during the period. Texas Permanent School Fund Corp owned about 0.07% of CVR Energy worth $1,890,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quest Partners LLC lifted its holdings in CVR Energy by 47.3% during the 2nd quarter. Quest Partners LLC now owns 3,485 shares of the oil and gas company’s stock worth $93,000 after buying an additional 1,119 shares during the last quarter. Victory Capital Management Inc. lifted its stake in CVR Energy by 0.8% during the second quarter. Victory Capital Management Inc. now owns 324,017 shares of the oil and gas company’s stock worth $8,674,000 after purchasing an additional 2,426 shares during the last quarter. Rhumbline Advisers increased its stake in CVR Energy by 5.6% in the second quarter. Rhumbline Advisers now owns 107,345 shares of the oil and gas company’s stock valued at $2,874,000 after purchasing an additional 5,656 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in CVR Energy during the second quarter worth approximately $1,687,000. Finally, Commonwealth Equity Services LLC lifted its position in shares of CVR Energy by 104.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 16,704 shares of the oil and gas company’s stock worth $447,000 after buying an additional 8,537 shares during the last quarter. Institutional investors and hedge funds own 98.88% of the company’s stock.

CVR Energy Price Performance

CVR Energy stock opened at $23.80 on Wednesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.46 and a quick ratio of 0.93. The business has a 50 day simple moving average of $24.89 and a 200-day simple moving average of $28.85. CVR Energy, Inc. has a 12 month low of $21.05 and a 12 month high of $38.07. The stock has a market capitalization of $2.39 billion, a PE ratio of 3.65 and a beta of 1.49.

CVR Energy (NYSE:CVI) last announced its quarterly earnings data on Monday, July 29th. The oil and gas company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.39. The company had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.80 billion. CVR Energy had a net margin of 6.39% and a return on equity of 25.00%. CVR Energy’s quarterly revenue was down 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.64 EPS. Equities analysts predict that CVR Energy, Inc. will post 0.55 earnings per share for the current year.

CVR Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 8.40%. The ex-dividend date of this dividend was Monday, August 12th. CVR Energy’s payout ratio is 30.67%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Mizuho cut their price target on shares of CVR Energy from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Monday. Tudor, Pickering, Holt & Co. cut CVR Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Scotiabank lifted their price target on CVR Energy from $24.00 to $25.00 and gave the stock a “sector underperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. decreased their price objective on CVR Energy from $30.00 to $26.00 and set an “underweight” rating for the company in a report on Tuesday, July 2nd. Finally, StockNews.com cut shares of CVR Energy from a “buy” rating to a “hold” rating in a report on Sunday, June 16th. Four investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $26.50.

CVR Energy Company Profile

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.