WBI Investments LLC Decreases Stock Holdings in CVR Energy, Inc. (NYSE:CVI)

WBI Investments LLC reduced its stake in shares of CVR Energy, Inc. (NYSE:CVI) by 23.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,703 shares of the oil and gas company’s stock after selling 5,783 shares during the quarter. WBI Investments LLC’s holdings in CVR Energy were worth $501,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp purchased a new stake in shares of CVR Energy in the 4th quarter worth about $33,000. Future Financial Wealth Managment LLC purchased a new stake in shares of CVR Energy in the first quarter valued at about $71,000. Covestor Ltd lifted its holdings in shares of CVR Energy by 45,560.0% in the first quarter. Covestor Ltd now owns 2,283 shares of the oil and gas company’s stock valued at $81,000 after purchasing an additional 2,278 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in shares of CVR Energy in the fourth quarter valued at approximately $89,000. Finally, TFO Wealth Partners LLC increased its stake in shares of CVR Energy by 246,550.0% during the 4th quarter. TFO Wealth Partners LLC now owns 4,933 shares of the oil and gas company’s stock worth $149,000 after purchasing an additional 4,931 shares in the last quarter. 98.88% of the stock is owned by hedge funds and other institutional investors.

CVR Energy Stock Up 3.0 %

Shares of NYSE:CVI opened at $25.42 on Friday. The company has a current ratio of 1.46, a quick ratio of 0.91 and a debt-to-equity ratio of 1.51. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 3.90 and a beta of 1.54. The stock’s 50-day moving average price is $25.63 and its two-hundred day moving average price is $29.77. CVR Energy, Inc. has a 12-month low of $23.80 and a 12-month high of $38.07.

CVR Energy (NYSE:CVI) last released its earnings results on Monday, July 29th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.39. CVR Energy had a net margin of 6.39% and a return on equity of 25.00%. The business had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the company earned $1.64 earnings per share. The company’s quarterly revenue was down 12.0% on a year-over-year basis. On average, research analysts forecast that CVR Energy, Inc. will post 0.25 EPS for the current year.

CVR Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, August 12th. This represents a $2.00 annualized dividend and a dividend yield of 7.87%. CVR Energy’s dividend payout ratio is presently 30.67%.

Analyst Upgrades and Downgrades

CVI has been the subject of several recent research reports. StockNews.com downgraded CVR Energy from a “buy” rating to a “hold” rating in a research report on Sunday, June 16th. Mizuho assumed coverage on CVR Energy in a research report on Wednesday, July 17th. They set a “neutral” rating and a $27.00 price objective for the company. UBS Group reduced their target price on shares of CVR Energy from $33.75 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. JPMorgan Chase & Co. lowered their price target on shares of CVR Energy from $30.00 to $26.00 and set an “underweight” rating for the company in a report on Tuesday, July 2nd. Finally, Scotiabank upped their price objective on shares of CVR Energy from $24.00 to $25.00 and gave the company a “sector underperform” rating in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $27.80.

CVR Energy Profile

CVR Energy, Inc, together with its subsidiaries, engages in the petroleum refining and marketing, and nitrogen fertilizer manufacturing activities in the United States. It operates in two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment refines and supplies gasoline, crude oil, distillate, diesel fuel, and other refined products.