Inspire Investing LLC Takes $227,000 Position in CVR Energy, Inc. (NYSE:CVI)

Inspire Investing LLC acquired a new position in shares of CVR Energy, Inc. (NYSE:CVI) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 8,471 shares of the oil and gas company’s stock, valued at approximately $227,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of CVR Energy by 2.2% in the first quarter. Vanguard Group Inc. now owns 4,020,717 shares of the oil and gas company’s stock valued at $143,379,000 after buying an additional 85,773 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of CVR Energy by 2.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,072,334 shares of the oil and gas company’s stock worth $55,476,000 after purchasing an additional 44,636 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of CVR Energy by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 975,323 shares of the oil and gas company’s stock valued at $26,109,000 after purchasing an additional 3,134 shares during the period. SIR Capital Management L.P. acquired a new position in CVR Energy in the second quarter valued at $17,907,000. Finally, American Century Companies Inc. lifted its position in CVR Energy by 60.3% during the second quarter. American Century Companies Inc. now owns 407,819 shares of the oil and gas company’s stock worth $10,917,000 after buying an additional 153,396 shares during the period. 98.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Tudor, Pickering, Holt & Co. downgraded shares of CVR Energy from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. UBS Group cut their price target on shares of CVR Energy from $33.75 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. StockNews.com downgraded CVR Energy from a “buy” rating to a “hold” rating in a report on Sunday, June 16th. JPMorgan Chase & Co. reduced their target price on CVR Energy from $30.00 to $26.00 and set an “underweight” rating on the stock in a report on Tuesday, July 2nd. Finally, Tudor Pickering upgraded CVR Energy to a “strong sell” rating in a research note on Monday, September 9th. Four research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $26.50.

CVR Energy Stock Performance

NYSE:CVI opened at $22.88 on Wednesday. The firm’s fifty day simple moving average is $24.77 and its 200 day simple moving average is $28.47. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 1.51. CVR Energy, Inc. has a twelve month low of $21.05 and a twelve month high of $38.07. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 3.51 and a beta of 1.49.

CVR Energy (NYSE:CVI) last issued its earnings results on Monday, July 29th. The oil and gas company reported $0.09 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 25.00% and a net margin of 6.39%. The company’s revenue was down 12.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.64 earnings per share. As a group, equities research analysts expect that CVR Energy, Inc. will post 0.55 earnings per share for the current fiscal year.

CVR Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.74%. CVR Energy’s dividend payout ratio is currently 30.67%.

CVR Energy 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.