Citigroup Inc. Buys 191,584 Shares of CVR Energy Inc. $CVI

Citigroup Inc. boosted its stake in CVR Energy Inc. (NYSE:CVI) by 95.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 391,985 shares of the oil and gas company’s stock after acquiring an additional 191,584 shares during the period. Citigroup Inc.’s holdings in CVR Energy were worth $14,300,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVI. Raymond James Financial Inc. purchased a new stake in shares of CVR Energy during the 2nd quarter worth approximately $53,000. BNP Paribas Financial Markets lifted its stake in CVR Energy by 48.0% in the second quarter. BNP Paribas Financial Markets now owns 3,633 shares of the oil and gas company’s stock valued at $98,000 after purchasing an additional 1,178 shares during the last quarter. Quantbot Technologies LP bought a new position in CVR Energy during the second quarter valued at $114,000. AlphaQuest LLC increased its position in CVR Energy by 600.3% in the second quarter. AlphaQuest LLC now owns 5,287 shares of the oil and gas company’s stock worth $142,000 after buying an additional 4,532 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of CVR Energy by 432.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,846 shares of the oil and gas company’s stock valued at $184,000 after buying an additional 5,560 shares during the period. 98.88% of the stock is owned by institutional investors.

Insider Transactions at CVR Energy

In other CVR Energy news, major shareholder Carl C. Icahn bought 275,012 shares of CVR Energy stock in a transaction that occurred on Tuesday, February 24th. The stock was acquired at an average cost of $21.41 per share, for a total transaction of $5,888,006.92. Following the completion of the transaction, the insider directly owned 71,201,875 shares in the company, valued at $1,524,432,143.75. This represents a 0.39% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders acquired a total of 783,404 shares of company stock worth $16,445,044 over the last three months. 0.01% of the stock is currently owned by company insiders.

CVR Energy Price Performance

CVI stock opened at $24.10 on Friday. The firm has a 50 day moving average of $23.76 and a 200-day moving average of $30.14. The firm has a market capitalization of $2.42 billion, a P/E ratio of 92.70 and a beta of 1.16. CVR Energy Inc. has a 12 month low of $15.10 and a 12 month high of $41.67. The company has a current ratio of 1.79, a quick ratio of 1.13 and a debt-to-equity ratio of 1.95.

CVR Energy (NYSE:CVI) last posted its earnings results on Wednesday, February 18th. The oil and gas company reported ($0.80) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.84) by $0.04. CVR Energy had a net margin of 0.38% and a negative return on equity of 14.31%. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the prior year, the company posted ($0.13) EPS. The business’s revenue for the quarter was down 7.0% compared to the same quarter last year. As a group, sell-side analysts predict that CVR Energy Inc. will post -0.12 earnings per share for the current fiscal year.

CVR Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 9th. Investors of record on Monday, March 2nd will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.48 annualized dividend and a yield of 6.1%. CVR Energy’s dividend payout ratio (DPR) is currently 569.23%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CVI. Wall Street Zen downgraded CVR Energy from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Weiss Ratings downgraded shares of CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a report on Friday, February 20th. One analyst has rated the stock with a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, CVR Energy presently has an average rating of “Strong Sell” and a consensus target price of $29.25.

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.