Federated Hermes Inc. Has $2.31 Million Stake in CVR Energy, Inc. (NYSE:CVI)

Posted by Defense World Staff on Mar 11th, 2023

Federated Hermes Inc. lowered its holdings in shares of CVR Energy, Inc. (NYSE:CVI – Get Rating) by 22.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,705 shares of the oil and gas company’s stock after selling 22,944 shares during the quarter. Federated Hermes Inc. owned 0.08% of CVR Energy worth $2,310,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. First Trust Advisors LP raised its position in shares of CVR Energy by 102.0% during the third quarter. First Trust Advisors LP now owns 62,908 shares of the oil and gas company’s stock worth $1,823,000 after purchasing an additional 31,759 shares during the period. Capital Fund Management S.A. acquired a new stake in shares of CVR Energy during the third quarter worth about $1,078,000. AlphaCrest Capital Management LLC raised its position in shares of CVR Energy by 140.9% during the third quarter. AlphaCrest Capital Management LLC now owns 40,565 shares of the oil and gas company’s stock worth $1,176,000 after purchasing an additional 23,728 shares during the period. Tudor Investment Corp Et Al raised its position in shares of CVR Energy by 64.2% during the third quarter. Tudor Investment Corp Et Al now owns 147,214 shares of the oil and gas company’s stock worth $4,266,000 after purchasing an additional 57,572 shares during the period. Finally, Cubist Systematic Strategies LLC raised its position in shares of CVR Energy by 10.7% during the third quarter. Cubist Systematic Strategies LLC now owns 313,856 shares of the oil and gas company’s stock worth $9,096,000 after purchasing an additional 30,346 shares during the period. Institutional investors and hedge funds own 95.51% of the company’s stock.

CVR Energy Stock Down 1.5 %

NYSE:CVI opened at $30.65 on Friday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.67 and a current ratio of 1.11. The company has a market cap of $3.08 billion, a PE ratio of 6.66 and a beta of 1.49. CVR Energy, Inc. has a 52-week low of $20.36 and a 52-week high of $43.61. The stock has a 50-day simple moving average of $32.45 and a 200 day simple moving average of $33.63.

CVR Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 13th. Investors of record on Monday, March 6th will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, March 3rd. This is an increase from CVR Energy’s previous quarterly dividend of $0.40. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.53%. CVR Energy’s dividend payout ratio (DPR) is presently 43.48%.

Analysts Set New Price Targets

Separately, UBS Group started coverage on CVR Energy in a research report on Wednesday. They set a “neutral” rating and a $36.00 price target on the stock. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $36.00.

CVR Energy Profile

(Get Rating)

CVR Energy, Inc is a holding company. The firm engages in the provision of petroleum refining and marketing business. It operates through the following segments: Petroleum and Nitrogen Fertilizer. The company was founded in September 1906 and is headquartered in Sugar Land, TX.