Norges Bank Takes $11.57 Million Position in CVR Energy, Inc. (NYSE:CVI)

Norges Bank bought a new stake in CVR Energy, Inc. (NYSE:CVIFree Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 381,764 shares of the oil and gas company’s stock, valued at approximately $11,567,000. Norges Bank owned about 0.38% of CVR Energy as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CVI. Sigma Planning Corp purchased a new stake in shares of CVR Energy in the third quarter valued at about $201,000. Swiss National Bank grew its holdings in shares of CVR Energy by 0.9% in the third quarter. Swiss National Bank now owns 66,300 shares of the oil and gas company’s stock valued at $2,256,000 after purchasing an additional 600 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of CVR Energy by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 543,178 shares of the oil and gas company’s stock valued at $18,484,000 after purchasing an additional 14,357 shares during the period. Burney Co. grew its holdings in shares of CVR Energy by 3.9% in the third quarter. Burney Co. now owns 13,694 shares of the oil and gas company’s stock valued at $466,000 after purchasing an additional 516 shares during the period. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of CVR Energy in the third quarter valued at about $209,000. 98.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CVI. StockNews.com lowered shares of CVR Energy from a “buy” rating to a “hold” rating in a report on Friday, May 31st. Scotiabank increased their target price on shares of CVR Energy from $25.00 to $29.00 and gave the stock a “sector underperform” rating in a research note on Thursday, April 11th. Finally, UBS Group lowered their target price on shares of CVR Energy from $37.00 to $33.75 and set a “neutral” rating for the company in a research note on Tuesday, May 14th.

Get Our Latest Stock Analysis on CVR Energy

CVR Energy Trading Down 0.2 %

Shares of CVI stock opened at $27.06 on Wednesday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.49 and a quick ratio of 0.91. The firm has a market cap of $2.72 billion, a PE ratio of 4.15 and a beta of 1.58. The company has a 50-day moving average of $31.85 and a two-hundred day moving average of $32.29. CVR Energy, Inc. has a 1-year low of $24.70 and a 1-year high of $39.36.

CVR Energy (NYSE:CVIGet Free Report) last announced its earnings results on Monday, April 29th. The oil and gas company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.09). The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.96 billion. CVR Energy had a return on equity of 40.14% and a net margin of 7.44%. The company’s quarterly revenue was down 18.5% compared to the same quarter last year. During the same period last year, the business earned $1.44 EPS. On average, analysts predict that CVR Energy, Inc. will post 1.27 EPS for the current year.

CVR Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $2.00 annualized dividend and a dividend yield of 7.39%. CVR Energy’s dividend payout ratio is presently 30.67%.

CVR Energy Profile

(Free Report)

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.

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Institutional Ownership by Quarter for CVR Energy (NYSE:CVI)

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