Massachusetts Financial Services Co. MA Grows Stock Holdings in CVR Energy, Inc. (NYSE:CVI)

Massachusetts Financial Services Co. MA raised its holdings in shares of CVR Energy, Inc. (NYSE:CVI) by 3.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,107 shares of the oil and gas company’s stock after acquiring an additional 2,219 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.07% of CVR Energy worth $1,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of CVR Energy by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 4,020,717 shares of the oil and gas company’s stock valued at $143,379,000 after purchasing an additional 85,773 shares during the period. Dimensional Fund Advisors LP grew its holdings in CVR Energy by 5.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,842,818 shares of the oil and gas company’s stock valued at $55,839,000 after buying an additional 103,235 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of CVR Energy by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 975,323 shares of the oil and gas company’s stock valued at $26,109,000 after buying an additional 3,134 shares during the period. SIR Capital Management L.P. purchased a new stake in shares of CVR Energy in the second quarter worth about $17,907,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of CVR Energy by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 554,792 shares of the oil and gas company’s stock valued at $16,810,000 after acquiring an additional 11,614 shares during the period. Hedge funds and other institutional investors own 98.88% of the company’s stock.

CVR Energy Stock Down 4.6 %

CVI opened at $23.47 on Monday. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 1.51. The business’s fifty day simple moving average is $24.85 and its 200 day simple moving average is $28.62. CVR Energy, Inc. has a 52 week low of $21.05 and a 52 week high of $38.07. The stock has a market cap of $2.36 billion, a PE ratio of 3.60 and a beta of 1.49.

CVR Energy (NYSE:CVI) last announced its quarterly earnings data on Monday, July 29th. The oil and gas company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.39. The company had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.80 billion. CVR Energy had a return on equity of 25.00% and a net margin of 6.39%. CVR Energy’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same period last year, the firm posted $1.64 EPS. As a group, research analysts expect that CVR Energy, Inc. will post 0.55 earnings per share for the current fiscal year.

CVR Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were issued a $0.50 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.52%. CVR Energy’s payout ratio is 30.67%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CVI shares. JPMorgan Chase & Co. decreased their target price on shares of CVR Energy from $30.00 to $26.00 and set an “underweight” rating on the stock in a report on Tuesday, July 2nd. Tudor, Pickering, Holt & Co. downgraded CVR Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Scotiabank boosted their target price on CVR Energy from $24.00 to $25.00 and gave the stock a “sector underperform” rating in a research report on Wednesday, July 31st. Mizuho lowered their price target on CVR Energy from $27.00 to $25.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Finally, Tudor Pickering raised CVR Energy to a “strong sell” rating in a report on Monday, September 9th. Four investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $26.50.

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.