CVR Energy, Inc. (NYSE:CVI) Sees Large Decrease in Short Interest

CVR Energy, Inc. (NYSE:CVI) was the target of a large drop in short interest in March. As of March 31st, there was short interest totalling 6,500,000 shares, a drop of 5.1% from the March 15th total of 6,850,000 shares. Approximately 6.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 925,400 shares, the days-to-cover ratio is presently 7.0 days.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Scotiabank lifted their price objective on CVR Energy from $25.00 to $29.00 and gave the stock a “sector underperform” rating in a research note on Thursday, April 11th. StockNews.com downgraded shares of CVR Energy from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd.

CVR Energy Trading Down 1.6 %

CVI opened at $33.40 on Thursday. The stock has a 50-day moving average of $34.76 and a 200 day moving average of $32.70. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 1.52. CVR Energy has a 12 month low of $22.60 and a 12 month high of $39.36. The firm has a market cap of $3.36 billion, a P/E ratio of 4.37 and a beta of 1.57.

CVR Energy (NYSE:CVI) last announced its earnings results on Tuesday, February 20th. The oil and gas company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.40. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.26 billion. CVR Energy had a return on equity of 55.17% and a net margin of 8.32%. As a group, research analysts forecast that CVR Energy will post 2.7 EPS for the current year.

CVR Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, March 4th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 5.99%. The ex-dividend date of this dividend was Friday, March 1st. CVR Energy’s payout ratio is 26.14%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp purchased a new position in shares of CVR Energy during the 4th quarter worth about $33,000. Tower Research Capital LLC TRC boosted its position in shares of CVR Energy by 103.1% during the third quarter. Tower Research Capital LLC TRC now owns 1,862 shares of the oil and gas company’s stock valued at $63,000 after buying an additional 945 shares during the period. Money Concepts Capital Corp boosted its position in shares of CVR Energy by 145.4% during the fourth quarter. Money Concepts Capital Corp now owns 2,226 shares of the oil and gas company’s stock valued at $70,000 after buying an additional 1,319 shares during the period. Future Financial Wealth Managment LLC bought a new position in shares of CVR Energy during the first quarter valued at approximately $71,000. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of CVR Energy in the first quarter worth approximately $79,000. Institutional investors own 98.88% of the company’s stock.

About CVR Energy

CVR Energy, Inc, together with its subsidiaries, engages in the petroleum refining and marketing, and nitrogen fertilizer manufacturing activities in the United States. It operates in two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment refines and supplies gasoline, crude oil, distillate, diesel fuel, and other refined products.