Tudor Investment Corp ET AL Invests $22.22 Million in CVR Energy Inc. $CVI

by · The Markets Daily

Tudor Investment Corp ET AL bought a new position in shares of CVR Energy Inc. (NYSE:CVIFree Report) during the third quarter, Holdings Channel.com reports. The fund bought 609,028 shares of the oil and gas company’s stock, valued at approximately $22,217,000.

Other hedge funds have also recently bought and sold shares of the company. Illinois Municipal Retirement Fund grew its position in CVR Energy by 2.2% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 17,081 shares of the oil and gas company’s stock worth $623,000 after purchasing an additional 363 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of CVR Energy by 2.9% during the third quarter. Victory Capital Management Inc. now owns 21,329 shares of the oil and gas company’s stock valued at $778,000 after buying an additional 596 shares during the last quarter. Congress Asset Management Co. lifted its stake in shares of CVR Energy by 0.7% in the third quarter. Congress Asset Management Co. now owns 85,083 shares of the oil and gas company’s stock valued at $3,104,000 after buying an additional 604 shares during the period. Alliancebernstein L.P. lifted its stake in shares of CVR Energy by 1.5% in the third quarter. Alliancebernstein L.P. now owns 48,943 shares of the oil and gas company’s stock valued at $1,785,000 after buying an additional 700 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in CVR Energy by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,301 shares of the oil and gas company’s stock worth $394,000 after buying an additional 858 shares in the last quarter. 98.88% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, major shareholder Carl C. Icahn bought 275,012 shares of the stock in a transaction dated Tuesday, February 24th. The stock was bought at an average cost of $21.41 per share, with a total value of $5,888,006.92. Following the purchase, the insider owned 71,201,875 shares of the company’s stock, valued at approximately $1,524,432,143.75. This represents a 0.39% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders acquired 783,404 shares of company stock valued at $16,445,044. 0.01% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on CVI. Wall Street Zen raised CVR Energy from a “sell” rating to a “hold” rating in a report on Saturday. The Goldman Sachs Group boosted their price objective on CVR Energy from $22.00 to $25.00 and gave the company a “sell” rating in a research report on Thursday, March 12th. Weiss Ratings lowered CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research note on Friday, February 20th. Finally, Mizuho raised their target price on CVR Energy from $28.00 to $32.00 and gave the stock an “underperform” rating in a research report on Tuesday. One analyst has rated the stock with a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Strong Sell” and a consensus target price of $30.00.

Get Our Latest Stock Analysis on CVR Energy

CVR Energy Stock Performance

NYSE:CVI opened at $33.81 on Friday. The firm has a market capitalization of $3.40 billion, a PE ratio of 130.06 and a beta of 1.12. The company has a quick ratio of 1.13, a current ratio of 1.79 and a debt-to-equity ratio of 1.95. CVR Energy Inc. has a 12-month low of $15.10 and a 12-month high of $41.67. The firm has a 50-day moving average price of $24.66 and a 200 day moving average price of $30.16.

CVR Energy (NYSE:CVIGet Free Report) last posted its quarterly earnings data on Wednesday, February 18th. The oil and gas company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($0.84) by $0.04. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.70 billion. CVR Energy had a net margin of 0.38% and a negative return on equity of 14.31%. The company’s revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.13) earnings per share. Research analysts anticipate that CVR Energy Inc. will post -0.12 earnings per share for the current fiscal year.

CVR Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Monday, March 2nd were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.48 annualized dividend and a yield of 4.4%. CVR Energy’s dividend payout ratio is currently 569.23%.

CVR Energy Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CVI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVR Energy Inc. (NYSE:CVIFree Report).