Allspring Global Investments Holdings LLC Reduces Position in CVR Energy, Inc. (NYSE:CVI)

Allspring Global Investments Holdings LLC reduced its stake in CVR Energy, Inc. (NYSE:CVI) by 23.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,453 shares of the oil and gas company’s stock after selling 2,566 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in CVR Energy were worth $226,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in shares of CVR Energy by 0.3% during 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 buying an additional 3,134 shares during the period. SummerHaven Investment Management LLC lifted its stake in shares of 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 worth $656,000 after purchasing an additional 530 shares during the period. Neo Ivy Capital Management acquired a new stake in shares of CVR Energy during the second quarter worth $2,484,000. SG Americas Securities LLC acquired a new stake in shares of CVR Energy during the second quarter worth $221,000. Finally, CX Institutional grew its position in shares of CVR Energy by 4.0% in the second quarter. CX Institutional now owns 99,128 shares of the oil and gas company’s stock valued at $2,654,000 after purchasing an additional 3,784 shares during the period. Institutional investors and hedge funds own 98.88% of the company’s stock.

CVR Energy Price Performance

CVR Energy stock opened at $23.10 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $2.32 billion, a P/E ratio of 3.54 and a beta of 1.49. The firm has a fifty day moving average of $25.38 and a 200-day moving average of $29.35. CVR Energy, Inc. has a 52-week low of $22.63 and a 52-week high of $38.07.

CVR Energy (NYSE:CVI) last released its quarterly earnings data 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 company had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the company posted $1.64 earnings per share. The firm’s revenue was down 12.0% compared to the same quarter last year. As a group, analysts predict that CVR Energy, Inc. will post 0.55 EPS for the current 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 given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 8.66%. The ex-dividend date of this dividend was Monday, August 12th. CVR Energy’s dividend payout ratio (DPR) is presently 30.67%.

Analyst Ratings Changes

A number of analysts have issued reports on CVI shares. JPMorgan Chase & Co. decreased their price target on CVR Energy from $30.00 to $26.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 2nd. Mizuho started coverage on shares of CVR Energy in a research report on Wednesday, July 17th. They issued a “neutral” rating and a $27.00 target price on the stock. UBS Group dropped their price target on shares of CVR Energy from $33.75 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. StockNews.com lowered shares of CVR Energy from a “buy” rating to a “hold” rating in a report on Sunday, June 16th. Finally, Scotiabank upped their price objective on CVR Energy from $24.00 to $25.00 and gave the stock a “sector underperform” rating in a report on Wednesday, July 31st. Two 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.com, the company presently has an average rating of “Hold” and an average price target of $27.00.

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.