CVR Energy Inc. (CVI) Stock Price Up NaN Following Strong Earnings
CVR Energy Inc. (NYSE:CVI) shares were up NaN during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $30.15 and last traded at $0.00. Approximately 1,222,960 shares were traded during trading, an increase of Infinity from the average daily volume of 0 shares. The oil and gas company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.08. The firm had revenue of $1.45 billion for the quarter. CVR Energy had a return on equity of 2.10% and a net margin of 0.44%.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Stockholders of record on Friday, November 10th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, November 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.29%. CVR Energy’s dividend payout ratio is 714.31%.
A number of research analysts have recently commented on CVI shares. BidaskClub raised CVR Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. ValuEngine cut CVR Energy from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 5th.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CVI. Advisor Group Inc. grew its stake in shares of CVR Energy by 27.6% during the second quarter. Advisor Group Inc. now owns 4,685 shares of the oil and gas company’s stock valued at $102,000 after buying an additional 1,013 shares during the last quarter. Creative Planning grew its stake in CVR Energy by 39.4% in the second quarter. Creative Planning now owns 6,550 shares of the oil and gas company’s stock worth $143,000 after purchasing an additional 1,850 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in CVR Energy by 6.0% in the first quarter. Public Employees Retirement System of Ohio now owns 9,293 shares of the oil and gas company’s stock worth $187,000 after purchasing an additional 530 shares in the last quarter. Koch Industries Inc. bought a new position in CVR Energy in the second quarter worth approximately $216,000. Finally, WBI Investments Inc. bought a new position in CVR Energy in the second quarter worth approximately $224,000. 99.41% of the stock is currently owned by hedge funds and other institutional investors.
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About CVR Energy
CVR Energy, Inc (CVR Energy) is a holding company. The Company is engaged in the petroleum refining and nitrogen fertilizer manufacturing through its holdings in CVR Refining LP (CVR Refining or the Refining Partnership) and CVR Partners LP (CVR Partners or the Nitrogen Fertilizer Partnership). It operates under two business segments: petroleum (the petroleum and related businesses operated by the Refining Partnership) and nitrogen fertilizer (the nitrogen fertilizer business operated by the Nitrogen Fertilizer Partnership).
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