CVR Energy, Inc. (NYSE:CVI) Stake Lessened by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in shares of CVR Energy, Inc. (NYSE:CVI) by 1.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 170,841 shares of the oil and gas company’s stock after selling 3,248 shares during the period. Principal Financial Group Inc. owned approximately 0.17% of CVR Energy worth $4,573,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

CVI has been the subject of several recent research reports. Tudor, Pickering, Holt & Co. lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a research note on Monday. Scotiabank raised their price objective on shares of CVR Energy from $24.00 to $25.00 and gave the stock a “sector underperform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. decreased their price objective on shares of CVR Energy from $30.00 to $26.00 and set an “underweight” rating for the company in a research note on Tuesday, July 2nd. UBS Group decreased their price objective on shares of CVR Energy from $33.75 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Finally, Mizuho started coverage on shares of CVR Energy in a research note on Wednesday, July 17th. They issued a “neutral” rating and a $27.00 price objective for the company. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, CVR Energy presently has a consensus rating of “Hold” and an average price target of $27.00.

CVR Energy Trading Down 2.4 %

Shares of NYSE:CVI opened at $21.84 on Wednesday. The firm has a fifty day moving average of $25.21 and a two-hundred day moving average of $29.17. The firm has a market capitalization of $2.20 billion, a P/E ratio of 3.35 and a beta of 1.49. CVR Energy, Inc. has a 12-month low of $21.66 and a 12-month high of $38.07. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 1.51.

CVR Energy (NYSE:CVI) last issued its earnings results on Monday, July 29th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.39. The company had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.80 billion. CVR Energy had a net margin of 6.39% and a return on equity of 25.00%. The company’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same quarter last year, the business posted $1.64 EPS. On average, equities analysts expect that CVR Energy, Inc. will post 0.55 EPS for the current fiscal year.

CVR Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 9.16%. The ex-dividend date of this dividend was Monday, August 12th. CVR Energy’s dividend payout ratio (DPR) is currently 30.67%.

About CVR Energy

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.