Morgan Stanley raised its stake in CVR Energy Inc. (NYSE:CVI) by 16.0% during the first quarter, Holdings Channel reports. The firm owned 169,295 shares of the oil and gas company’s stock after buying an additional 23,396 shares during the period. Morgan Stanley’s holdings in CVR Energy were worth $3,400,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in CVI. Wellington Management Group LLP acquired a new position in CVR Energy during the first quarter valued at $1,148,000. Norges Bank purchased a new stake in shares of CVR Energy during the fourth quarter valued at approximately $11,641,000. American International Group Inc. raised its stake in shares of CVR Energy by 5.9% in the first quarter. American International Group Inc. now owns 11,285 shares of the oil and gas company’s stock valued at $227,000 after buying an additional 628 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of CVR Energy by 50.2% in the fourth quarter. Teachers Advisors LLC now owns 61,913 shares of the oil and gas company’s stock valued at $1,572,000 after buying an additional 20,684 shares in the last quarter. Finally, US Bancorp DE raised its stake in shares of CVR Energy by 23.2% in the first quarter. US Bancorp DE now owns 11,065 shares of the oil and gas company’s stock valued at $222,000 after buying an additional 2,085 shares in the last quarter. Hedge funds and other institutional investors own 98.54% of the company’s stock.
Shares of CVR Energy Inc. (NYSE CVI) traded up 2.23% during midday trading on Friday, reaching $17.89. The company’s stock had a trading volume of 395,005 shares. CVR Energy Inc. has a 52 week low of $12.03 and a 52 week high of $25.91. The stock has a market capitalization of $1.55 billion, a PE ratio of 65.29 and a beta of 1.72. The stock has a 50-day moving average price of $20.27 and a 200 day moving average price of $20.71.
CVR Energy (NYSE:CVI) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.07. CVR Energy had a return on equity of 2.10% and a net margin of 0.44%. The company had revenue of $1.43 billion during the quarter. Equities analysts forecast that CVR Energy Inc. will post $0.29 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, August 7th were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 11.18%. CVR Energy’s dividend payout ratio is currently 714.31%.
CVI has been the subject of several research analyst reports. BidaskClub upgraded CVR Energy from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. ValuEngine upgraded CVR Energy from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company’s stock. CVR Energy has an average rating of “Hold” and a consensus price target of $14.50.
CVR Energy Company Profile
CVR Energy, Inc (CVR Energy) is a holding company. The Company is engaged in the petroleum refining and nitrogen fertilizer manufacturing through its holdings in CVR Refining LP (CVR Refining or the Refining Partnership) and CVR Partners LP (CVR Partners or the Nitrogen Fertilizer Partnership). It operates under two business segments: petroleum (the petroleum and related businesses operated by the Refining Partnership) and nitrogen fertilizer (the nitrogen fertilizer business operated by the Nitrogen Fertilizer Partnership).
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