Hsbc Holdings PLC Invests $208,000 in CVR Energy, Inc. (NYSE:CVI)

Hsbc Holdings PLC purchased a new stake in shares of CVR Energy, Inc. (NYSE:CVI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,793 shares of the oil and gas company’s stock, valued at approximately $208,000.

Other hedge funds have also added to or reduced their stakes in the company. SummerHaven Investment Management LLC lifted its position in CVR Energy by 2.2% during the 2nd quarter. SummerHaven Investment Management LLC now owns 24,511 shares of the oil and gas company’s stock valued at $656,000 after purchasing an additional 530 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in CVR Energy by 4.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,485 shares of the oil and gas company’s stock valued at $767,000 after buying an additional 990 shares during the period. Quest Partners LLC lifted its holdings in CVR Energy by 47.3% in the second quarter. Quest Partners LLC now owns 3,485 shares of the oil and gas company’s stock valued at $93,000 after buying an additional 1,119 shares during the period. Headlands Technologies LLC boosted its stake in CVR Energy by 820.5% in the second quarter. Headlands Technologies LLC now owns 1,482 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 1,321 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its holdings in CVR Energy by 27.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 7,799 shares of the oil and gas company’s stock worth $209,000 after acquiring an additional 1,692 shares during the period. Institutional investors own 98.88% of the company’s stock.

CVR Energy Stock Performance

CVI opened at $24.66 on Friday. CVR Energy, Inc. has a 52-week low of $21.05 and a 52-week high of $38.07. The firm has a market capitalization of $2.48 billion, a PE ratio of 3.78 and a beta of 1.48. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.93 and a current ratio of 1.46. The business’s 50-day simple moving average is $24.47 and its 200 day simple moving average is $27.95.

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, beating analysts’ consensus estimates of ($0.30) by $0.39. CVR Energy had a net margin of 6.39% and a return on equity of 25.00%. The company had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the firm posted $1.64 EPS. The company’s quarterly revenue was down 12.0% on a year-over-year basis. As a group, sell-side analysts expect that CVR Energy, Inc. will post 0.5 earnings per share for the current fiscal year.

CVR Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were given a $0.50 dividend. 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 8.11%. CVR Energy’s payout ratio is 30.67%.

Wall Street Analyst Weigh In

CVI has been the topic of a number of analyst reports. Scotiabank raised 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 target price on CVR Energy from $26.00 to $23.00 and set an “underweight” rating for the company in a research report on Wednesday. Mizuho reduced their price objective 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, September 16th. Tudor Pickering raised shares of CVR Energy to a “strong sell” rating in a research note on Monday, September 9th. Finally, StockNews.com lowered CVR Energy from a “buy” rating to a “hold” rating in a research 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.com, the stock currently has an average rating of “Reduce” and an average price target of $25.75.

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.