Entropy Technologies LP Invests $634,000 in CVR Energy Inc. $CVI

Entropy Technologies LP purchased a new stake in CVR Energy Inc. (NYSE:CVI) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 18,853 shares of the oil and gas company’s stock, valued at approximately $634,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. raised its position in CVR Energy by 51.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,142 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 388 shares during the last quarter. Quarry LP bought a new position in shares of CVR Energy during the third quarter worth about $50,000. Aster Capital Management DIFC Ltd acquired a new position in shares of CVR Energy in the 4th quarter worth approximately $40,000. Exchange Traded Concepts LLC acquired a new position in CVR Energy in the fourth quarter valued at $47,000. Finally, Horizon Investments LLC bought a new stake in shares of CVR Energy during the 4th quarter valued at about $47,000. Institutional investors own 98.88% of the company’s stock.

CVR Energy Trading Up 3.1%

NYSE CVI opened at $34.80 on Thursday. The business’s fifty day moving average is $31.36 and its 200-day moving average is $29.32. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.44 and a quick ratio of 0.89. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of -80.92 and a beta of 0.83. CVR Energy Inc. has a one year low of $19.62 and a one year high of $41.67.

CVR Energy (NYSE:CVI) last posted its quarterly earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.08. CVR Energy had a negative net margin of 0.56% and a negative return on equity of 22.36%. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the prior year, the business earned ($0.23) earnings per share. The firm’s revenue for the quarter was up 55.5% on a year-over-year basis. Equities research analysts predict that CVR Energy Inc. will post -0.21 EPS for the current year.

CVR Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 10th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, August 10th. CVR Energy’s dividend payout ratio is currently -93.02%.

Analyst Ratings Changes

A number of analysts recently commented on CVI shares. Wall Street Zen raised CVR Energy from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. The Goldman Sachs Group assumed coverage on CVR Energy in a research note on Friday, April 10th. They issued a “sell” rating and a $30.00 price objective for the company. Tudor Pickering lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a research note on Thursday, June 4th. Weiss Ratings downgraded CVR Energy from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Friday, May 15th. Finally, Zacks Research downgraded shares of CVR Energy from a “hold” rating to a “strong sell” rating in a report on Monday, July 6th. Two analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Strong Sell” and a consensus price target of $30.25.

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.