nVerses Capital LLC Makes New Investment in CVR Energy, Inc. (NYSE:CVI)

nVerses Capital LLC purchased a new stake in shares of CVR Energy, Inc. (NYSE:CVI) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 9,500 shares of the oil and gas company’s stock, valued at approximately $219,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. SIR Capital Management L.P. purchased a new stake in CVR Energy during the 2nd quarter valued at $17,907,000. Vanguard Group Inc. boosted its position in shares of CVR Energy by 12.1% during 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 during the last quarter. American Century Companies Inc. raised its position in CVR Energy by 60.3% in the 2nd quarter. American Century Companies Inc. now owns 407,819 shares of the oil and gas company’s stock worth $10,917,000 after buying an additional 153,396 shares during the last quarter. Denali Advisors LLC lifted its stake in CVR Energy by 323.6% during the 2nd quarter. Denali Advisors LLC now owns 159,162 shares of the oil and gas company’s stock valued at $4,261,000 after acquiring an additional 121,590 shares during the period. Finally, Millennium Management LLC purchased a new stake in shares of CVR Energy during the 2nd quarter valued at about $2,889,000. Institutional investors own 98.88% of the company’s stock.

CVR Energy Stock Performance

NYSE:CVI opened at $24.52 on Friday. 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 stock has a 50-day simple moving average of $24.05 and a two-hundred day simple moving average of $27.14. The firm has a market capitalization of $2.46 billion, a PE ratio of 3.76 and a beta of 1.48. CVR Energy, Inc. has a 52-week low of $21.05 and a 52-week high of $38.07.

CVR Energy (NYSE:CVI) last announced its quarterly earnings data on Monday, July 29th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the company posted $1.64 EPS. The firm’s revenue was down 12.0% on a year-over-year basis. Analysts forecast that CVR Energy, Inc. will post 0.35 EPS for the current year.

CVR Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were paid 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 8.16%. CVR Energy’s dividend payout ratio (DPR) is presently 30.67%.

Analyst Ratings Changes

Several research firms have recently weighed in on CVI. JPMorgan Chase & Co. decreased their price objective on shares of CVR Energy from $26.00 to $23.00 and set an “underweight” rating for the company in a report on Wednesday, October 2nd. Tudor Pickering upgraded CVR Energy to a “strong sell” rating in a research note on Monday, September 9th. Mizuho reduced their price objective on CVR Energy from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. UBS Group dropped their target price on CVR Energy from $33.75 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Finally, Scotiabank cut their price target on CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating for the company in a research note on Thursday, October 10th. Four analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $24.75.

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.