The Manufacturers Life Insurance Company Acquires Shares of 14,929 CVR Energy Inc. $CVI

The Manufacturers Life Insurance Company purchased a new position in shares of CVR Energy Inc. (NYSE:CVI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 14,929 shares of the oil and gas company’s stock, valued at approximately $411,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CVI. BlackRock Inc. purchased a new stake in CVR Energy during the 2nd quarter valued at approximately $143,262,000. BNP Paribas Financial Markets grew its stake in shares of CVR Energy by 21,261.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 776,073 shares of the oil and gas company’s stock valued at $28,311,000 after purchasing an additional 772,440 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of CVR Energy in the fourth quarter valued at approximately $9,616,000. Bank of America Corp DE increased its holdings in shares of CVR Energy by 101.2% in the third quarter. Bank of America Corp DE now owns 706,504 shares of the oil and gas company’s stock valued at $25,773,000 after purchasing an additional 355,412 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of CVR Energy by 33.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,364,250 shares of the oil and gas company’s stock worth $49,768,000 after purchasing an additional 345,758 shares during the last quarter. Hedge funds and other institutional investors own 98.88% of the company’s stock.

CVR Energy Trading Up 0.1%

Shares of CVI opened at $44.54 on Tuesday. CVR Energy Inc. has a twelve month low of $19.62 and a twelve month high of $44.65. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 2.38. The firm has a market capitalization of $4.48 billion, a P/E ratio of 65.50 and a beta of 0.85. The firm’s 50-day moving average is $35.11 and its two-hundred day moving average is $32.11.

CVR Energy (NYSE:CVI) last posted its quarterly earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.22 billion. CVR Energy had a net margin of 0.81% and a negative return on equity of 15.21%. The company’s revenue for the quarter was up 55.5% on a year-over-year basis. During the same period last year, the firm earned ($0.23) EPS. On average, research analysts predict that CVR Energy Inc. will post 0.79 earnings per share for the current fiscal year.

CVR Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 10th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.40 annualized dividend and a yield of 0.9%. CVR Energy’s payout ratio is currently 58.82%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wall Street Zen raised CVR Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Mizuho boosted their price objective on shares of CVR Energy from $28.00 to $29.00 and gave the company an “underperform” rating in a research note on Tuesday, August 4th. Tudor Pickering downgraded shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Thursday, June 4th. Weiss Ratings restated a “sell (d-)” rating on shares of CVR Energy in a research note on Wednesday, August 12th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $35.00 target price on shares of CVR Energy in a report on Monday, June 29th. Three investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Strong Sell” and a consensus target price of $30.50.

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.