Engineers Gate Manager LP reduced its holdings in CVR Energy, Inc. (NYSE:CVI – Get Rating) by 86.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,138 shares of the oil and gas company’s stock after selling 102,108 shares during the period. Engineers Gate Manager LP’s holdings in CVR Energy were worth $468,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Money Concepts Capital Corp grew its holdings in CVR Energy by 174.8% in the third quarter. Money Concepts Capital Corp now owns 907 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 577 shares during the period. Nisa Investment Advisors LLC acquired a new stake in shares of CVR Energy in the third quarter worth approximately $71,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of CVR Energy in the first quarter worth approximately $79,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of CVR Energy in the third quarter worth approximately $84,000. Finally, Great West Life Assurance Co. Can acquired a new stake in shares of CVR Energy in the third quarter worth approximately $92,000. 95.51% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Separately, UBS Group initiated coverage on CVR Energy in a research note on Wednesday. They issued a “neutral” rating and a $36.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, CVR Energy currently has an average rating of “Hold” and a consensus price target of $36.00.
CVR Energy Stock Performance
CVR Energy Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 13th. Shareholders of record on Monday, March 6th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, March 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 6.53%. This is a positive change from CVR Energy’s previous quarterly dividend of $0.40. CVR Energy’s payout ratio is 43.48%.
CVR Energy Company Profile
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.
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