Entropy Technologies LP Buys Shares of 18,853 CVR Energy Inc. $CVI

Entropy Technologies LP purchased a new stake in shares of CVR Energy Inc. (NYSE:CVI) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 18,853 shares of the oil and gas company’s stock, valued at approximately $634,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets increased its holdings in CVR Energy by 21,261.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 776,073 shares of the oil and gas company’s stock worth $28,311,000 after acquiring an additional 772,440 shares during the last quarter. Squarepoint Ops LLC bought a new stake in CVR Energy in the 4th quarter valued at about $9,616,000. Bank of America Corp DE lifted its holdings in CVR Energy by 101.2% during the third quarter. Bank of America Corp DE now owns 706,504 shares of the oil and gas company’s stock valued at $25,773,000 after purchasing an additional 355,412 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in CVR Energy by 33.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,364,250 shares of the oil and gas company’s stock valued at $49,768,000 after purchasing an additional 345,758 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in CVR Energy by 31.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,167,184 shares of the oil and gas company’s stock worth $29,693,000 after purchasing an additional 280,300 shares during the period. Institutional investors own 98.88% of the company’s stock.

Analyst Upgrades and Downgrades

CVI has been the topic of several research reports. Weiss Ratings lowered shares of CVR Energy from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Friday, May 15th. Tudor Pickering lowered CVR Energy from a “hold” rating to a “sell” rating in a report on Thursday, June 4th. Scotiabank lifted their price objective on CVR Energy from $25.00 to $28.00 and gave the company a “sector underperform” rating in a research note on Wednesday, April 22nd. Wall Street Zen upgraded shares of CVR Energy from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Mizuho dropped their target price on shares of CVR Energy from $35.00 to $28.00 and set an “underperform” rating for the company in a research report on Tuesday, July 7th. Two analysts have rated the stock with a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Strong Sell” and a consensus target price of $30.25.

CVR Energy Stock Performance

NYSE:CVI opened at $34.80 on Thursday. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.89 and a current ratio of 1.44. CVR Energy Inc. has a fifty-two week low of $19.62 and a fifty-two week high of $41.67. The firm has a market cap of $3.50 billion, a PE ratio of -80.92 and a beta of 0.83. The business has a 50 day moving average price of $31.36 and a 200-day moving average price of $29.32.

CVR Energy (NYSE:CVI) last issued its earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.26 by $0.08. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.22 billion. CVR Energy had a negative net margin of 0.56% and a negative return on equity of 22.36%. The firm’s revenue for the quarter was up 55.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.23) earnings per share. Equities research analysts predict that CVR Energy Inc. will post -0.21 earnings per share for the current year.

CVR Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 10th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 10th. CVR Energy’s dividend payout ratio is presently -93.02%.

CVR Energy Company 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.