JPMorgan Chase & Co. Buys 106,350 Shares of CVR Energy Inc. $CVI

JPMorgan Chase & Co. increased its stake in CVR Energy Inc. (NYSE:CVI) by 38.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 380,127 shares of the oil and gas company’s stock after purchasing an additional 106,350 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.38% of CVR Energy worth $13,867,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVI. Quarry LP acquired a new stake in shares of CVR Energy in the third quarter worth $50,000. Raymond James Financial Inc. bought a new position in CVR Energy in the 2nd quarter worth $53,000. BNP Paribas Financial Markets lifted its position in CVR Energy by 48.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,633 shares of the oil and gas company’s stock worth $98,000 after acquiring an additional 1,178 shares during the last quarter. Quantbot Technologies LP bought a new stake in CVR Energy during the second quarter valued at about $114,000. Finally, ProShare Advisors LLC acquired a new stake in shares of CVR Energy in the third quarter valued at about $212,000. Institutional investors and hedge funds own 98.88% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on CVI. The Goldman Sachs Group boosted their price objective on CVR Energy from $22.00 to $25.00 and gave the stock a “sell” rating in a research report on Thursday, March 12th. Mizuho upped their price target on CVR Energy from $28.00 to $32.00 and gave the stock an “underperform” rating in a report on Tuesday, March 17th. Weiss Ratings downgraded shares of CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research note on Friday, February 20th. Wall Street Zen raised shares of CVR Energy from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Finally, Raymond James Financial upgraded shares of CVR Energy from an “underperform” rating to a “market perform” rating in a research note on Wednesday. Two analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Strong Sell” and a consensus target price of $30.00.

Insiders Place Their Bets

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

CVR Energy Trading Up 1.4%

CVR Energy stock opened at $34.81 on Friday. The business has a 50 day moving average price of $25.68 and a two-hundred day moving average price of $30.24. The company has a quick ratio of 1.13, a current ratio of 1.79 and a debt-to-equity ratio of 1.95. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 133.91 and a beta of 1.12. CVR Energy Inc. has a 12 month low of $15.10 and a 12 month high of $41.67.

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

CVR Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Monday, March 2nd were paid a dividend of $0.37 per share. The ex-dividend date was Monday, March 2nd. This represents a $1.48 dividend on an annualized basis and a yield of 4.3%.

CVR Energy 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.