SG Americas Securities LLC Boosts Stock Position in CVR Energy, Inc. (NYSE:CVI)

SG Americas Securities LLC raised its position in shares of CVR Energy, Inc. (NYSE:CVI) by 158.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,269 shares of the oil and gas company’s stock after purchasing an additional 13,028 shares during the quarter. SG Americas Securities LLC’s holdings in CVR Energy were worth $490,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. SIR Capital Management L.P. purchased a new stake in shares of CVR Energy in the second quarter worth about $17,907,000. Vanguard Group Inc. boosted its stake in shares of CVR Energy by 12.1% in the fourth quarter. Vanguard Group Inc. now owns 3,934,944 shares of the oil and gas company’s stock worth $119,229,000 after buying an additional 424,348 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of CVR Energy by 60.3% in 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 last quarter. Denali Advisors LLC boosted its stake in shares of CVR Energy by 323.6% in the second quarter. Denali Advisors LLC now owns 159,162 shares of the oil and gas company’s stock worth $4,261,000 after buying an additional 121,590 shares during the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of CVR Energy in the second quarter worth about $2,889,000. Hedge funds and other institutional investors own 98.88% of the company’s stock.

CVR Energy Price Performance

Shares of CVR Energy stock opened at $23.88 on Thursday. The business has a 50 day simple moving average of $24.11 and a two-hundred day simple moving average of $27.25. 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 $2.40 billion, a P/E ratio of 3.66 and a beta of 1.48. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.46 and a quick ratio of 0.93.

CVR Energy (NYSE:CVI) last posted its quarterly earnings results on Monday, July 29th. The oil and gas company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.30) by $0.39. CVR Energy had a return on equity of 25.00% and a net margin of 6.39%. The firm had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the firm earned $1.64 earnings per share. The business’s revenue for the quarter was down 12.0% on a year-over-year basis. As a group, analysts predict that CVR Energy, Inc. will post 0.35 EPS for the current fiscal year.

CVR Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were issued a $0.50 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.00 annualized dividend and a dividend yield of 8.38%. CVR Energy’s dividend payout ratio is presently 30.67%.

Analyst Ratings Changes

CVI has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on CVR Energy from $26.00 to $23.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 2nd. Scotiabank reduced their price target on CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating for the company in a report on Thursday, October 10th. Mizuho reduced their price target on CVR Energy from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Tudor, Pickering, Holt & Co. cut CVR Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Finally, UBS Group reduced their price target on CVR Energy from $33.75 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Four investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $24.75.

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.