CVR Energy Inc. $CVI Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its position in CVR Energy Inc. (NYSE:CVI) by 38.8% in the third quarter, Holdings Channel reports. The fund owned 380,127 shares of the oil and gas company’s stock after buying an additional 106,350 shares during the period. JPMorgan Chase & Co.’s holdings in CVR Energy were worth $13,867,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of CVR Energy in the 2nd quarter valued at $53,000. BNP Paribas Financial Markets grew its stake in shares of CVR Energy by 48.0% during the second quarter. BNP Paribas Financial Markets now owns 3,633 shares of the oil and gas company’s stock worth $98,000 after purchasing an additional 1,178 shares in the last quarter. Quantbot Technologies LP purchased a new position in CVR Energy in the second quarter valued at $114,000. ProShare Advisors LLC acquired a new stake in CVR Energy in the third quarter valued at $212,000. Finally, Significant Wealth Partners LLC purchased a new stake in CVR Energy during the 3rd quarter worth about $223,000. Institutional investors and hedge funds own 98.88% of the company’s stock.

Insider Activity at CVR Energy

In other CVR Energy news, major shareholder Carl C. Icahn purchased 275,012 shares of CVR Energy stock in a transaction that occurred on Tuesday, February 24th. The stock was purchased at an average price of $21.41 per share, for a total transaction of $5,888,006.92. Following the transaction, the insider directly owned 71,201,875 shares in the company, valued at $1,524,432,143.75. This trade represents a 0.39% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have acquired 783,404 shares of company stock valued at $16,445,044. Insiders own 0.01% of the company’s stock.

CVR Energy Stock Up 5.7%

CVR Energy stock opened at $26.45 on Thursday. The company has a market capitalization of $2.66 billion, a P/E ratio of 101.73 and a beta of 1.12. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.13 and a current ratio of 1.79. CVR Energy Inc. has a fifty-two week low of $15.10 and a fifty-two week high of $41.67. The stock has a 50-day simple moving average of $23.71 and a 200-day simple moving average of $30.14.

CVR Energy (NYSE:CVI) last announced its earnings results on Wednesday, February 18th. The oil and gas company reported ($0.80) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.04. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.70 billion. CVR Energy had a negative return on equity of 14.31% and a net margin of 0.38%.The business’s revenue was down 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.13) EPS. Equities research analysts expect that CVR Energy Inc. will post -0.12 earnings per share for the current year.

CVR Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 9th. Stockholders of record on Monday, March 2nd will be given a dividend of $0.37 per share. The ex-dividend date is Monday, March 2nd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.6%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CVI shares. Weiss Ratings downgraded CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a report on Friday, February 20th. Wall Street Zen lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. One research analyst has rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Strong Sell” and a consensus price target of $29.25.

CVR Energy Profile

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.