Seven Eight Capital LP Takes Position in CVR Energy, Inc. (NYSE:CVI)

Seven Eight Capital LP acquired a new position in shares of CVR Energy, Inc. (NYSE:CVI) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 32,143 shares of the oil and gas company’s stock, valued at approximately $860,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVI. Jones Financial Companies Lllp acquired a new position in CVR Energy during the 4th quarter worth approximately $33,000. Headlands Technologies LLC boosted its holdings in CVR Energy by 820.5% during the second quarter. Headlands Technologies LLC now owns 1,482 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 1,321 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in CVR Energy during the first quarter worth $71,000. Covestor Ltd grew its position in CVR Energy by 45,560.0% in the first quarter. Covestor Ltd now owns 2,283 shares of the oil and gas company’s stock valued at $81,000 after purchasing an additional 2,278 shares in the last quarter. Finally, Scarborough Advisors LLC acquired a new stake in CVR Energy in the 4th quarter valued at $89,000. Institutional investors and hedge funds own 98.88% of the company’s stock.

Wall Street Analyst Weigh In

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

CVR Energy Trading Down 4.5 %

Shares of CVR Energy stock opened at $23.50 on Friday. CVR Energy, Inc. has a 1 year low of $21.05 and a 1 year high of $38.07. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 3.60 and a beta of 1.49. The business has a fifty day simple moving average of $24.87 and a two-hundred day simple moving average of $28.72. 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 announced its earnings results on Monday, July 29th. The oil and gas company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.30) by $0.39. The business 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 revenue was down 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.64 EPS. Research analysts forecast that CVR Energy, Inc. will post 0.55 EPS for the current year.

CVR Energy Announces Dividend

The company also recently announced 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 was Monday, August 12th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.51%. CVR Energy’s dividend payout ratio (DPR) is currently 30.67%.

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.