Nisa Investment Advisors LLC lowered its position in CVR Energy, Inc. (NYSE:CVI) by 26.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,650 shares of the oil and gas company’s stock after selling 10,850 shares during the quarter. Nisa Investment Advisors LLC’s holdings in CVR Energy were worth $1,532,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC lifted its stake in CVR Energy by 10.7% in the first quarter. SG Americas Securities LLC now owns 3,226 shares of the oil and gas company’s stock valued at $133,000 after acquiring an additional 311 shares during the last quarter. NumerixS Investment Technologies Inc acquired a new stake in CVR Energy in the first quarter valued at $166,000. National Asset Management Inc. acquired a new stake in CVR Energy in the first quarter valued at $230,000. Mercer Global Advisors Inc. ADV acquired a new stake in CVR Energy in the first quarter valued at $200,000. Finally, Metropolitan Life Insurance Co. NY lifted its stake in CVR Energy by 350.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,203 shares of the oil and gas company’s stock valued at $214,000 after acquiring an additional 4,827 shares during the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.
Shares of NYSE CVI traded down $0.86 during mid-day trading on Friday, reaching $49.30. 791,749 shares of the company were exchanged, compared to its average volume of 471,548. The firm’s 50-day moving average is $51.14. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.40 and a quick ratio of 1.59. The company has a market capitalization of $5.34 billion, a PE ratio of 13.50 and a beta of 1.33. CVR Energy, Inc. has a twelve month low of $30.46 and a twelve month high of $55.52.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Monday, August 5th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 6.09%. The ex-dividend date of this dividend is Friday, August 2nd.
A number of analysts have commented on the stock. Tudor Pickering cut shares of CVR Energy from a “hold” rating to a “sell” rating in a research note on Tuesday. Goldman Sachs Group cut shares of CVR Energy from a “neutral” rating to a “sell” rating and set a $48.00 target price for the company. in a research note on Monday, July 29th. Finally, Citigroup cut shares of CVR Energy from a “buy” rating to a “neutral” rating and set a $48.00 target price for the company. in a research note on Friday, June 21st. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. CVR Energy currently has a consensus rating of “Hold” and an average target price of $44.20.
CVR Energy Profile
CVR Energy, Inc, through its subsidiaries, engages in petroleum refining and nitrogen fertilizer manufacturing activities in the United States. The company operates in Petroleum and Nitrogen Fertilizer segments. The Petroleum segment refines and markets transportation fuels, such as gasoline, diesel fuel, and other refined products.
Further Reading: Average Daily Trade Volume Explained
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