Blackstone Holdings I L.P. Maintains Stake in CVR Partners, LP (UAN)
Blackstone Holdings I L.P.
recently revealed that they own 8.5% of CVR Partners, LP (NYSE:UAN) in a Schedule 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Wednesday, December 20th. The investor owns 9,622,920 shares of the stock worth approximately $34,065,137. The reporting parties listed on the disclosure included GSO Cactus Credit Opportunities Fund LP, Steamboat Nitro Blocker LLC, Steamboat Credit Opportunities Intermediate Fund LP, GSO Coastline Credit Partners LP, GSO ADGM II Nitro Blocker LLC, GSO Aiguille des Grands Montets Fund II LP, GSO Palmetto Opportunistic Investment Partners LP, GSO CreditA Partners LP, GSO Special Situations Fund LP, GSO SSOMF Nitro Blocker LLC, GSO Special Situations Overseas Master Fund Ltd, GSO Palmetto Opportunistic Associates LLC, GSO CreditA Associates LLC, GSO Holdings I LLC, Blackstone Holdings II LP, GSO Capital Partners LP, GSO Advisor Holdings LLC, Blackstone Holdings I LP, Blackstone Holdings I/II GP Inc, The Blackstone Group LP, Blackstone Group Management LLC, Bennett J Goodman, J Albert Smith III and Stephen A Schwarzman. The disclosure is available through EDGAR at this hyperlink.
provided the following explanation of their ownership:
A number of other large investors have also recently made changes to their positions in the stock. GSA Capital Partners LLP bought a new stake in shares of CVR Partners during the third quarter worth $417,000. Blackstone Group L.P. grew its stake in shares of CVR Partners by 0.9% during the third quarter. Blackstone Group L.P. now owns 5,924,085 shares of the basic materials company’s stock worth $19,135,000 after buying an additional 50,000 shares during the last quarter. HITE Hedge Asset Management LLC grew its stake in shares of CVR Partners by 10.9% during the third quarter. HITE Hedge Asset Management LLC now owns 519,235 shares of the basic materials company’s stock worth $1,677,000 after buying an additional 50,912 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of CVR Partners by 2,522.0% during the third quarter. JPMorgan Chase & Co. now owns 212,197 shares of the basic materials company’s stock worth $703,000 after buying an additional 204,104 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of CVR Partners by 698.5% during the second quarter. Goldman Sachs Group Inc. now owns 3,270,562 shares of the basic materials company’s stock worth $11,414,000 after buying an additional 2,860,954 shares during the last quarter. 22.21% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have weighed in on the stock. Cowen reaffirmed a “hold” rating on shares of CVR Partners in a research note on Tuesday, September 26th. Zacks Investment Research lowered shares of CVR Partners from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 6th. Finally, ValuEngine upgraded shares of CVR Partners from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $5.50.
Shares of CVR Partners, LP (NYSE:UAN) traded down $0.02 during trading hours on Wednesday, hitting $3.54. 829,700 shares of the stock were exchanged, compared to its average volume of 353,235. The company has a current ratio of 2.02, a quick ratio of 1.22 and a debt-to-equity ratio of 1.08. CVR Partners, LP has a 52 week low of $2.58 and a 52 week high of $6.95.
CVR Partners (NYSE:UAN) last issued its quarterly earnings results on Wednesday, November 1st. The basic materials company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.18). The business had revenue of $69.40 million for the quarter, compared to analyst estimates of $82.51 million. CVR Partners had a negative return on equity of 9.91% and a negative net margin of 17.75%. CVR Partners’s revenue for the quarter was down 11.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.12) EPS. equities analysts anticipate that CVR Partners, LP will post -0.55 earnings per share for the current year.
In related news, major shareholder Gso Capital Partners Lp sold 1,900,000 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $3.00, for a total value of $5,700,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
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About CVR Partners
CVR Partners, LP is a limited partnership formed by CVR Energy, Inc (CVR Energy) to own, operate and grow its nitrogen fertilizer business. The Company produces and distributes nitrogen fertilizer products, which are used by farmers to manage the yield and quality of their crops. As of December 31, 2016, the Company produced its nitrogen fertilizer products at two manufacturing facilities, located in Coffeyville, Kansas and East Dubuque, Illinois.
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