Principal Financial Group Inc. Raises Holdings in CVR Energy, Inc. (NYSE:CVI)

Principal Financial Group Inc. lifted its position in CVR Energy, Inc. (NYSE:CVI) by 1.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 174,089 shares of the oil and gas company’s stock after buying an additional 2,909 shares during the period. Principal Financial Group Inc. owned approximately 0.17% of CVR Energy worth $6,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of CVR Energy by 12.1% during the fourth quarter. Vanguard Group Inc. now owns 3,934,944 shares of the oil and gas company’s stock valued at $119,229,000 after acquiring an additional 424,348 shares in the last quarter. Norges Bank purchased a new stake in CVR Energy in the fourth quarter valued at $11,567,000. Jacobs Levy Equity Management Inc. boosted its holdings in CVR Energy by 57.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 924,541 shares of the oil and gas company’s stock valued at $31,462,000 after purchasing an additional 338,393 shares during the last quarter. Tudor Investment Corp Et Al purchased a new stake in CVR Energy in the third quarter valued at $8,875,000. Finally, Dimensional Fund Advisors LP boosted its holdings in CVR Energy by 5.9% in the fourth 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 purchasing an additional 103,235 shares during the last quarter. 98.88% of the stock is owned by institutional investors.

CVR Energy Trading Down 1.2 %

Shares of NYSE:CVI traded down $0.32 during mid-day trading on Friday, reaching $26.26. 126,400 shares of the company were exchanged, compared to its average volume of 944,634. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.49 and a quick ratio of 0.91. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 4.08 and a beta of 1.54. The firm’s 50-day simple moving average is $28.25 and its 200 day simple moving average is $31.57. CVR Energy, Inc. has a 1 year low of $25.99 and a 1 year high of $39.36.

CVR Energy (NYSE:CVI) last posted its quarterly earnings data on Monday, April 29th. The oil and gas company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.09). CVR Energy had a return on equity of 40.14% and a net margin of 7.44%. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the business posted $1.44 EPS. The business’s revenue for the quarter was down 18.5% on a year-over-year basis. Equities research analysts forecast that CVR Energy, Inc. will post 0.95 EPS for the current year.

CVR Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $2.00 annualized dividend and a yield of 7.62%. CVR Energy’s dividend payout ratio is presently 30.67%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CVI. StockNews.com downgraded shares of CVR Energy from a “buy” rating to a “hold” rating in a research report on Sunday, June 16th. 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 report on Tuesday. Scotiabank upped their price objective on shares of CVR Energy from $25.00 to $29.00 and gave the stock a “sector underperform” rating in a research report on Thursday, April 11th. Finally, UBS Group reduced their price target on shares of CVR Energy from $37.00 to $33.75 and set a “neutral” rating for the company in a research report on Tuesday, May 14th. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $29.94.

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.