Exchange Traded Concepts LLC Has $1.72 Million Position in CVR Energy, Inc. (NYSE:CVI)

Exchange Traded Concepts LLC increased its holdings in shares of CVR Energy, Inc. (NYSE:CVI) by 174.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 74,501 shares of the oil and gas company’s stock after acquiring an additional 47,344 shares during the period. Exchange Traded Concepts LLC owned about 0.07% of CVR Energy worth $1,716,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in CVI. Virtu Financial LLC acquired a new stake in shares of CVR Energy during the 4th quarter valued at about $248,000. Vanguard Group Inc. boosted its position in CVR Energy by 12.1% in the fourth quarter. Vanguard Group Inc. now owns 3,934,944 shares of the oil and gas company’s stock valued at $119,229,000 after buying an additional 424,348 shares in the last quarter. BTC Capital Management Inc. acquired a new position in CVR Energy in the first quarter valued at about $605,000. Future Financial Wealth Managment LLC acquired a new position in CVR Energy in the first quarter valued at about $71,000. Finally, Hennessy Advisors Inc. boosted its position in CVR Energy by 44.0% in the first quarter. Hennessy Advisors Inc. now owns 143,000 shares of the oil and gas company’s stock valued at $5,099,000 after buying an additional 43,700 shares in the last quarter. 98.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on CVI shares. JPMorgan Chase & Co. reduced their price target on shares of CVR Energy from $26.00 to $23.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 2nd. UBS Group reduced their price target on shares of CVR Energy from $33.75 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Mizuho reduced 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. Tudor, Pickering, Holt & Co. lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Finally, Scotiabank reduced their target price on shares of CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating on the stock in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $24.75.

CVR Energy Price Performance

Shares of CVI stock opened at $23.18 on Wednesday. CVR Energy, Inc. has a 1 year low of $21.05 and a 1 year high of $38.07. The firm’s 50 day moving average is $24.14 and its 200-day moving average is $27.27. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 3.56 and a beta of 1.48. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 1.51.

CVR Energy (NYSE:CVI) last issued its earnings results 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 net margin of 6.39% and a return on equity of 25.00%. The firm had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the firm earned $1.64 earnings per share. The business’s quarterly revenue was down 12.0% on a year-over-year basis. Sell-side analysts forecast that CVR Energy, Inc. will post 0.35 EPS for the current fiscal year.

CVR Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 8.63%. The ex-dividend date of this dividend was Monday, August 12th. CVR Energy’s dividend payout ratio (DPR) is presently 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.