Bank of Nova Scotia bought a new stake in shares of CVR Energy, Inc. (NYSE:CVI – Get Rating) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,445 shares of the oil and gas company’s stock, valued at approximately $265,000.
Several other institutional investors and hedge funds also recently bought and sold shares of CVI. Premier Fund Managers Ltd purchased a new position in CVR Energy during the fourth quarter valued at $58,431,000. Millennium Management LLC lifted its position in CVR Energy by 898.3% during the second quarter. Millennium Management LLC now owns 543,041 shares of the oil and gas company’s stock valued at $18,192,000 after purchasing an additional 488,647 shares in the last quarter. State Street Corp lifted its position in CVR Energy by 25.4% during the third quarter. State Street Corp now owns 2,338,969 shares of the oil and gas company’s stock valued at $67,783,000 after purchasing an additional 474,471 shares in the last quarter. Hennessy Advisors Inc. purchased a new position in CVR Energy during the third quarter valued at $10,355,000. Finally, Renaissance Technologies LLC lifted its position in CVR Energy by 52.2% during the first quarter. Renaissance Technologies LLC now owns 935,984 shares of the oil and gas company’s stock valued at $23,905,000 after purchasing an additional 321,100 shares in the last quarter. 95.51% of the stock is currently owned by hedge funds and other institutional investors.
CVR Energy Price Performance
Shares of CVR Energy stock opened at $23.57 on Friday. The stock’s 50-day simple moving average is $27.96 and its 200-day simple moving average is $31.47. CVR Energy, Inc. has a 52 week low of $22.60 and a 52 week high of $43.61. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 4.20 and a beta of 1.50. The company has a quick ratio of 0.76, a current ratio of 1.22 and a debt-to-equity ratio of 1.71.
CVR Energy Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, May 22nd. Investors of record on Monday, May 15th were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, May 12th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.49%. CVR Energy’s dividend payout ratio is currently 35.65%.
Analyst Ratings Changes
CVI has been the topic of several research analyst reports. UBS Group initiated coverage on CVR Energy in a research report on Wednesday, March 8th. They issued a “neutral” rating and a $36.00 price objective on the stock. StockNews.com initiated coverage on CVR Energy in a research report on Thursday, May 18th. They issued a “buy” rating on the stock.
About CVR Energy
CVR Energy, Inc is a holding company. The firm engages in the petroleum refining and marketing business. It operates through the Petroleum and Nitrogen Fertilizer segments. The Petroleum segment refines and markets high value transportation fuels. The Nitrogen Fertilizer segment markets nitrogen fertilizers primarily in the form of UAN and ammonia.
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