The Manufacturers Life Insurance Company Has $979,000 Stock Holdings in CVR Energy, Inc. (NYSE:CVI)

The Manufacturers Life Insurance Company grew its stake in CVR Energy, Inc. (NYSE:CVI) by 7.2% during the second quarter, HoldingsChannel.com reports. The firm owned 36,562 shares of the oil and gas company’s stock after buying an additional 2,451 shares during the period. The Manufacturers Life Insurance Company’s holdings in CVR Energy were worth $979,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CVI. Millennium Management LLC acquired a new stake in shares of CVR Energy in the 2nd quarter valued at approximately $2,889,000. AQR Capital Management LLC increased its stake in CVR Energy by 223.6% in the second quarter. AQR Capital Management LLC now owns 53,258 shares of the oil and gas company’s stock valued at $1,426,000 after purchasing an additional 36,802 shares in the last quarter. Squarepoint Ops LLC raised its holdings in CVR Energy by 10.7% in the second quarter. Squarepoint Ops LLC now owns 131,502 shares of the oil and gas company’s stock worth $3,520,000 after purchasing an additional 12,750 shares during the period. Public Sector Pension Investment Board boosted its position in shares of CVR Energy by 7.0% during the second quarter. Public Sector Pension Investment Board now owns 64,746 shares of the oil and gas company’s stock worth $1,733,000 after purchasing an additional 4,248 shares in the last quarter. Finally, DRW Securities LLC acquired a new position in shares of CVR Energy in the 2nd quarter valued at $202,000. 98.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CVI has been the topic of several research analyst reports. Scotiabank dropped their price objective on CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating on the stock in a research note on Thursday. UBS Group cut their price objective on CVR Energy from $33.75 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. JPMorgan Chase & Co. lowered their target price on CVR Energy from $26.00 to $23.00 and set an “underweight” rating for the company in a research note on Wednesday, October 2nd. Tudor, Pickering, Holt & Co. cut shares of CVR Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Finally, StockNews.com downgraded shares of CVR Energy from a “buy” rating to a “hold” rating in a research report on Sunday, June 16th. Four analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat.com, CVR Energy presently has an average rating of “Reduce” and a consensus price target of $24.75.

CVR Energy Trading Up 0.6 %

NYSE:CVI opened at $24.79 on Monday. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 1.51. CVR Energy, Inc. has a twelve month low of $21.05 and a twelve month high of $38.07. The company has a market cap of $2.49 billion, a P/E ratio of 4.56 and a beta of 1.48. The business has a 50 day moving average price of $24.17 and a two-hundred day moving average price of $27.43.

CVR Energy (NYSE:CVI) last released its earnings results on Monday, July 29th. The oil and gas company reported $0.09 earnings per share 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 business 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 earned $1.64 earnings per share. The firm’s revenue for the quarter was down 12.0% compared to the same quarter last year. As a group, analysts expect that CVR Energy, Inc. will post 0.35 EPS for the current fiscal year.

CVR Energy Announces Dividend

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. The ex-dividend date was Monday, August 12th. This represents a $2.00 annualized dividend and a yield of 8.07%. CVR Energy’s dividend payout ratio (DPR) is presently 36.76%.

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.