Alliancebernstein L.P. increased its stake in CVR Energy Inc. (NYSE:CVI) by 42.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,000 shares of the oil and gas company’s stock after buying an additional 9,000 shares during the period. Alliancebernstein L.P.’s holdings in CVR Energy were worth $602,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. US Bancorp DE increased its position in CVR Energy by 23.2% in the first quarter. US Bancorp DE now owns 11,065 shares of the oil and gas company’s stock valued at $222,000 after buying an additional 2,085 shares during the last quarter. American International Group Inc. boosted its stake in shares of CVR Energy by 5.9% in the first quarter. American International Group Inc. now owns 11,285 shares of the oil and gas company’s stock worth $227,000 after buying an additional 628 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of CVR Energy during the fourth quarter worth about $229,000. Zweig DiMenna Associates LLC acquired a new stake in CVR Energy during the first quarter valued at $251,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in CVR Energy during the first quarter valued at $328,000. Hedge funds and other institutional investors own 98.54% of the company’s stock.
CVR Energy Inc. (NYSE CVI) opened at 17.89 on Friday. CVR Energy Inc. has a 1-year low of $12.03 and a 1-year high of $25.91. The stock has a market cap of $1.55 billion, a PE ratio of 65.29 and a beta of 1.72. The stock has a 50 day moving average price of $20.27 and a 200-day moving average price of $20.71.
The business also recently announced a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, August 7th were given a dividend of $0.50 per share. The ex-dividend date was Thursday, August 3rd. This represents a $2.00 annualized dividend and a yield of 11.18%. CVR Energy’s payout ratio is currently 714.31%.
Several brokerages have recently commented on CVI. BidaskClub lowered CVR Energy from a “sell” rating to a “strong sell” rating in a research report on Friday, August 4th. ValuEngine upgraded CVR Energy from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the stock. CVR Energy currently has a consensus rating of “Hold” and a consensus price target of $14.50.
About CVR Energy
CVR Energy, Inc (CVR Energy) is a holding company. The Company is engaged in the petroleum refining and nitrogen fertilizer manufacturing through its holdings in CVR Refining LP (CVR Refining or the Refining Partnership) and CVR Partners LP (CVR Partners or the Nitrogen Fertilizer Partnership). It operates under two business segments: petroleum (the petroleum and related businesses operated by the Refining Partnership) and nitrogen fertilizer (the nitrogen fertilizer business operated by the Nitrogen Fertilizer Partnership).
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