Man Group plc Acquires Shares of 56,436 CVR Energy Inc. $CVI

Man Group plc bought a new position in CVR Energy Inc. (NYSE:CVI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 56,436 shares of the oil and gas company’s stock, valued at approximately $1,554,000. Man Group plc owned about 0.06% of CVR Energy as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of CVI. EverSource Wealth Advisors LLC increased its stake in shares of 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 valued at $37,000 after buying an additional 339 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of CVR Energy by 51.5% during the first quarter. PNC Financial Services Group Inc. now owns 1,142 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 388 shares during the period. Victory Capital Management Inc. lifted its stake in shares of CVR Energy by 2.9% during the third quarter. Victory Capital Management Inc. now owns 21,329 shares of the oil and gas company’s stock valued at $778,000 after acquiring an additional 596 shares during the period. Illinois Municipal Retirement Fund boosted its holdings in CVR Energy by 3.9% in the fourth quarter. Illinois Municipal Retirement Fund now owns 17,741 shares of the oil and gas company’s stock valued at $451,000 after acquiring an additional 660 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in CVR Energy by 1.5% in the third quarter. Alliancebernstein L.P. now owns 48,943 shares of the oil and gas company’s stock worth $1,785,000 after purchasing an additional 700 shares during the period. 98.88% of the stock is currently owned by institutional investors.

CVR Energy Stock Up 0.4%

Shares of NYSE CVI opened at $43.04 on Thursday. The stock has a market cap of $4.33 billion, a P/E ratio of 63.30 and a beta of 0.85. The firm has a 50 day moving average price of $34.11 and a 200 day moving average price of $31.66. 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 Inc. has a 52-week low of $19.62 and a 52-week high of $44.33.

CVR Energy (NYSE:CVI) last posted its earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.08. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.22 billion. CVR Energy had a net margin of 0.81% and a negative return on equity of 15.21%. The business’s revenue for the quarter was up 55.5% compared to the same quarter last year. During the same period last year, the business posted ($0.23) earnings per share. Analysts expect that CVR Energy Inc. will post 0.79 EPS for the current year.

CVR Energy Announces Dividend

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

Analysts Set New Price Targets

CVI has been the topic of a number of research reports. Zacks Research upgraded shares of CVR Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Wall Street Zen raised shares of CVR Energy from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Mizuho raised 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of CVR Energy in a research report on Wednesday, August 12th. Finally, Tudor Pickering downgraded CVR Energy from a “hold” rating to a “sell” rating in a research note on Thursday, June 4th. Three analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Strong Sell” and a consensus 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.