Royce & Associates LP Trims Stake in CVR Energy Inc. $CVI

Royce & Associates LP reduced its position in shares of CVR Energy Inc. (NYSE:CVI) by 66.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,567 shares of the oil and gas company’s stock after selling 33,372 shares during the quarter. Royce & Associates LP’s holdings in CVR Energy were worth $421,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CVI. Exchange Traded Concepts LLC purchased a new position in CVR Energy during the 4th quarter worth $47,000. Horizon Investments LLC purchased a new position in shares of CVR Energy in the 4th quarter valued at $47,000. Quarry LP purchased a new position in shares of CVR Energy in the 3rd quarter valued at $50,000. Raymond James Financial Inc. purchased a new position in shares of CVR Energy in the 2nd quarter valued at $53,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of CVR Energy by 48.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,633 shares of the oil and gas company’s stock valued at $98,000 after acquiring an additional 1,178 shares during the period. 98.88% of the stock is currently owned by hedge funds and other institutional investors.

CVR Energy Stock Down 0.1%

CVR Energy stock opened at $33.19 on Monday. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.44 and a quick ratio of 0.89. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of -77.18 and a beta of 0.80. CVR Energy Inc. has a 1-year low of $19.62 and a 1-year high of $41.67. The business has a fifty day moving average price of $32.67 and a 200-day moving average price of $29.25.

CVR Energy (NYSE:CVI) last issued its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported ($1.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.70). CVR Energy had a negative return on equity of 22.36% and a negative net margin of 0.56%.The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the firm posted ($0.58) EPS. The business’s revenue was up 20.3% compared to the same quarter last year. Equities research analysts forecast that CVR Energy Inc. will post 1.04 EPS for the current fiscal year.

CVR Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 18th. Shareholders of record on Monday, May 11th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.40 dividend on an annualized basis and a yield of 1.2%. CVR Energy’s payout ratio is currently -93.02%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CVI shares. Weiss Ratings downgraded CVR Energy from a “sell (d+)” rating to a “sell (d-)” rating in a report on Friday, May 15th. Scotiabank lifted their price target on CVR Energy from $25.00 to $28.00 and gave the company a “sector underperform” rating in a report on Wednesday, April 22nd. The Goldman Sachs Group started coverage on CVR Energy in a report on Friday, April 10th. They issued a “sell” rating and a $30.00 price target on the stock. Raymond James Financial upgraded CVR Energy from an “underperform” rating to a “market perform” rating in a report on Wednesday, March 25th. Finally, Mizuho lifted their price target on CVR Energy from $32.00 to $35.00 and gave the company an “underperform” rating in a report on Wednesday, May 27th. Two investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Strong Sell” and an average price target of $32.50.

About CVR Energy

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.