CVR Energy (NYSE:CVI) Receives New Coverage from Analysts at UBS Group

UBS Group assumed coverage on shares of CVR Energy (NYSE:CVI – Get Rating) in a report published on Wednesday, The Fly reports. The firm issued a neutral rating on the oil and gas company’s stock.

CVR Energy Stock Performance

CVI stock opened at $32.07 on Wednesday. The stock has a market capitalization of $3.22 billion, a PE ratio of 6.97 and a beta of 1.49. CVR Energy has a 12-month low of $19.16 and a 12-month high of $43.61. The company has a current ratio of 1.11, a quick ratio of 0.67 and a debt-to-equity ratio of 2.00. The stock’s 50 day simple moving average is $32.47 and its 200 day simple moving average is $33.67.

CVR Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 13th. Investors of record on Monday, March 6th will be given a $0.50 dividend. The ex-dividend date is Friday, March 3rd. This is a boost from CVR Energy’s previous quarterly dividend of $0.40. This represents a $2.00 annualized dividend and a yield of 6.24%. CVR Energy’s dividend payout ratio is 43.48%.

Hedge Funds Weigh In On CVR Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVI. Premier Fund Managers Ltd bought a new position in CVR Energy in the 4th quarter valued at approximately $58,431,000. Millennium Management LLC lifted its holdings in shares of CVR Energy by 355.2% during the 4th quarter. Millennium Management LLC now owns 847,879 shares of the oil and gas company’s stock valued at $26,573,000 after buying an additional 661,621 shares during the period. Norges Bank bought a new position in shares of CVR Energy during the 4th quarter valued at $15,619,000. State Street Corp lifted its holdings in shares of CVR Energy by 25.4% during the 3rd quarter. State Street Corp now owns 2,338,969 shares of the oil and gas company’s stock valued at $67,783,000 after buying an additional 474,471 shares during the period. Finally, Hennessy Advisors Inc. bought a new position in shares of CVR Energy during the 3rd quarter valued at $10,355,000. 95.51% of the stock is owned by institutional investors.

About CVR Energy

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CVR Energy, Inc is a holding company. The firm engages in the provision of petroleum refining and marketing business. It operates through the following segments: Petroleum and Nitrogen Fertilizer. The company was founded in September 1906 and is headquartered in Sugar Land, TX.