PDT Partners LLC Takes $14.50 Million Position in CVR Energy Inc. $CVI

PDT Partners LLC bought a new position in shares of CVR Energy Inc. (NYSE:CVI) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 526,592 shares of the oil and gas company’s stock, valued at approximately $14,502,000. CVR Energy accounts for 0.8% of PDT Partners LLC’s investment portfolio, making the stock its 24th biggest position.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its holdings in CVR Energy by 44.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,102 shares of the oil and gas company’s stock worth $37,000 after buying an additional 339 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of CVR Energy by 51.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,142 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 388 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in shares of CVR Energy in the fourth quarter valued at $40,000. Horizon Investments LLC bought a new stake in shares of CVR Energy during the 4th quarter valued at $47,000. Finally, Quarry LP purchased a new stake in CVR Energy during the 3rd quarter worth about $50,000. Institutional investors own 98.88% of the company’s stock.

CVR Energy Trading Down 0.0%

Shares of CVI stock opened at $38.03 on Wednesday. The company has a market capitalization of $3.82 billion, a PE ratio of 55.93 and a beta of 0.83. CVR Energy Inc. has a 52-week low of $19.62 and a 52-week high of $41.67. The business’s fifty day moving average is $32.41 and its 200 day moving average is $30.92. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.92 and a current ratio of 1.42.

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

CVR Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 10th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Monday, August 10th. CVR Energy’s dividend payout ratio (DPR) is 58.82%.

Analyst Ratings Changes

Several research analysts have commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of CVR Energy in a research note on Wednesday, August 12th. Tudor Pickering cut CVR Energy from a “hold” rating to a “sell” rating in a research report on Thursday, June 4th. UBS Group reissued a “neutral” rating and issued a $35.00 price target on shares of CVR Energy in a report on Monday, June 29th. Wall Street Zen upgraded shares of CVR Energy from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, Zacks Research raised shares of CVR Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Three research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Strong Sell” and an average price target of $30.50.

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.