Citigroup Inc. Has $14.30 Million Stake in CVR Energy Inc. $CVI

Citigroup Inc. increased its stake in CVR Energy Inc. (NYSE:CVI) by 95.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 391,985 shares of the oil and gas company’s stock after acquiring an additional 191,584 shares during the quarter. Citigroup Inc. owned 0.39% of CVR Energy worth $14,300,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CVI. Bayforest Capital Ltd bought a new stake in CVR Energy in the 3rd quarter valued at about $1,057,000. Allianz Asset Management GmbH grew its stake in CVR Energy by 69.3% in the third quarter. Allianz Asset Management GmbH now owns 458,214 shares of the oil and gas company’s stock valued at $16,716,000 after acquiring an additional 187,620 shares during the period. Russell Investments Group Ltd. grew its stake in CVR Energy by 249.1% in the second quarter. Russell Investments Group Ltd. now owns 149,748 shares of the oil and gas company’s stock valued at $4,021,000 after acquiring an additional 106,854 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of CVR Energy during the second quarter valued at approximately $2,179,000. Finally, SG Americas Securities LLC acquired a new position in shares of CVR Energy during the third quarter worth approximately $1,021,000. 98.88% of the stock is owned by institutional investors.

CVR Energy Stock Up 2.0%

CVI opened at $24.10 on Friday. CVR Energy Inc. has a fifty-two week low of $15.10 and a fifty-two week high of $41.67. The firm has a market capitalization of $2.42 billion, a P/E ratio of 92.70 and a beta of 1.16. The company’s 50-day moving average is $23.76 and its 200 day moving average is $30.14. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.79 and a quick ratio of 1.13.

CVR Energy (NYSE:CVI) last issued its quarterly earnings data on Wednesday, February 18th. The oil and gas company reported ($0.80) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.04. CVR Energy had a net margin of 0.38% and a negative return on equity of 14.31%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the firm posted ($0.13) EPS. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. Research analysts expect that CVR Energy Inc. will post -0.12 earnings per share for the current fiscal year.

CVR Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 9th. Investors of record on Monday, March 2nd will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date is Monday, March 2nd. CVR Energy’s dividend payout ratio (DPR) is 569.23%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CVI. Wall Street Zen downgraded shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Weiss Ratings cut shares of CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a report on Friday, February 20th. One equities research analyst has rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Strong Sell” and a consensus target price of $29.25.

Insider Buying and Selling

In other CVR Energy news, major shareholder Carl C. Icahn acquired 275,012 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were acquired at an average price of $21.41 per share, with a total value of $5,888,006.92. Following the completion of the transaction, the insider owned 71,201,875 shares in the company, valued at approximately $1,524,432,143.75. This trade represents a 0.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders acquired 783,404 shares of company stock worth $16,445,044 in the last 90 days. Company insiders own 0.01% of the company’s stock.

CVR Energy Company Profile

CVR Energy, Inc is an independent downstream energy company engaged primarily in petroleum refining and nitrogen fertilizer production in the United States. Headquartered in Sugar Land, Texas, CVR Energy operates through two reportable segments—Petroleum Products and Nitrogen Fertilizers—leveraging its refining expertise and distribution network to serve both wholesale and retail markets across key regions in the U.S.

In its Petroleum Products segment, the company owns and operates the Coffeyville, Kansas refinery, which has the capability to process various grades of crude oil into gasoline, diesel, jet fuel and other refined products.