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

Allspring Global Investments Holdings LLC grew its holdings in CVR Energy, Inc. (NYSE:CVI) by 7.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,506 shares of the oil and gas company’s stock after purchasing an additional 686 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in CVR Energy were worth $285,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of CVI. HighTower Advisors LLC purchased a new position in CVR Energy in the 1st quarter worth approximately $255,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in CVR Energy in the 1st quarter worth approximately $79,000. MetLife Investment Management LLC lifted its stake in CVR Energy by 16.0% in the 1st quarter. MetLife Investment Management LLC now owns 15,688 shares of the oil and gas company’s stock worth $401,000 after purchasing an additional 2,162 shares in the last quarter. Rhumbline Advisers lifted its stake in CVR Energy by 6.9% in the 1st quarter. Rhumbline Advisers now owns 45,196 shares of the oil and gas company’s stock worth $1,154,000 after purchasing an additional 2,915 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in CVR Energy by 0.7% in the 1st quarter. BlackRock Inc. now owns 2,522,277 shares of the oil and gas company’s stock worth $64,420,000 after purchasing an additional 17,656 shares in the last quarter. 98.88% of the stock is owned by hedge funds and other institutional investors.

CVR Energy Stock Performance

NYSE:CVI opened at $30.26 on Friday. The company has a fifty day simple moving average of $33.05 and a two-hundred day simple moving average of $30.91. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 3.85 and a beta of 1.63. The company has a quick ratio of 0.97, a current ratio of 1.44 and a debt-to-equity ratio of 1.37. CVR Energy, Inc. has a 52 week low of $22.60 and a 52 week high of $41.26.

CVR Energy Increases Dividend

The firm also recently declared a None dividend, which will be paid on Monday, November 20th. Shareholders of record on Monday, November 13th will be paid a $2.00 dividend. This is an increase from CVR Energy’s previous None dividend of $1.00. The ex-dividend date of this dividend is Friday, November 10th. This represents a dividend yield of 6%. CVR Energy’s payout ratio is 25.48%.

Insiders Place Their Bets

In related news, major shareholder Carl C. Icahn sold 4,100,000 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $35.20, for a total transaction of $144,320,000.00. Following the completion of the transaction, the insider now owns 66,692,381 shares in the company, valued at $2,347,571,811.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Carl C. Icahn sold 4,100,000 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $35.20, for a total transaction of $144,320,000.00. Following the completion of the transaction, the insider now owns 66,692,381 shares in the company, valued at $2,347,571,811.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Carl C. Icahn sold 149,261 shares of the business’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $35.15, for a total transaction of $5,246,524.15. Following the transaction, the insider now owns 71,049,457 shares of the company’s stock, valued at approximately $2,497,388,413.55. The disclosure for this sale can be found here. Insiders sold a total of 4,379,033 shares of company stock worth $154,031,842 over the last 90 days. Corporate insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. StockNews.com assumed coverage on shares of CVR Energy in a research report on Thursday, October 5th. They set a “buy” rating on the stock. The Goldman Sachs Group lifted their price target on shares of CVR Energy from $28.00 to $31.00 and gave the company a “sell” rating in a research report on Friday, September 1st.

CVR Energy Company Profile

CVR Energy, Inc, together with its subsidiaries, engages in the petroleum refining and nitrogen fertilizer manufacturing activities in the United States. It operates in two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment refines and markets gasoline, diesel fuel, and other refined products.