CVR Energy Inc. (NYSE:CVI) reached a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $29.35 and last traded at $29.05, with a volume of 466,591 shares traded. The stock had previously closed at $27.45.
The oil and gas company reported $0.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.08. CVR Energy had a return on equity of 2.10% and a net margin of 0.44%.
A number of equities research analysts have weighed in on the company. ValuEngine cut CVR Energy from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 5th. BidaskClub upgraded CVR Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th.
Hedge funds and other institutional investors have recently modified their holdings of the business. Advisor Group Inc. increased its holdings in shares of CVR Energy by 27.6% in the second quarter. Advisor Group Inc. now owns 4,685 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 1,013 shares during the period. Creative Planning increased its holdings in shares of CVR Energy by 39.4% in the second quarter. Creative Planning now owns 6,550 shares of the oil and gas company’s stock valued at $143,000 after purchasing an additional 1,850 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of CVR Energy by 6.0% in the first quarter. Public Employees Retirement System of Ohio now owns 9,293 shares of the oil and gas company’s stock valued at $187,000 after purchasing an additional 530 shares during the period. WBI Investments Inc. acquired a new position in shares of CVR Energy in the second quarter valued at approximately $224,000. Finally, American International Group Inc. increased its holdings 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 valued at $227,000 after purchasing an additional 628 shares during the period. Institutional investors own 99.41% of the company’s stock.
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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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