Federated Hermes Inc. Acquires 4,144 Shares of CVR Energy, Inc. (NYSE:CVI)

Federated Hermes Inc. increased its holdings in shares of CVR Energy, Inc. (NYSE:CVI) by 120.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,586 shares of the oil and gas company’s stock after purchasing an additional 4,144 shares during the quarter. Federated Hermes Inc.’s holdings in CVR Energy were worth $230,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of CVR Energy by 19.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,810 shares of the oil and gas company’s stock worth $206,000 after buying an additional 1,106 shares during the last quarter. Everence Capital Management Inc. boosted its position in CVR Energy by 69.7% during the fourth quarter. Everence Capital Management Inc. now owns 31,360 shares of the oil and gas company’s stock valued at $950,000 after purchasing an additional 12,880 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in CVR Energy in the fourth quarter valued at approximately $442,000. Allspring Global Investments Holdings LLC increased its position in shares of CVR Energy by 6.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 7,806 shares of the oil and gas company’s stock worth $237,000 after purchasing an additional 449 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of CVR Energy by 61.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 16,220 shares of the oil and gas company’s stock worth $491,000 after purchasing an additional 6,195 shares in the last quarter. Institutional investors own 98.88% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CVI shares. StockNews.com raised shares of CVR Energy from a “hold” rating to a “buy” rating in a research note on Friday. Scotiabank lifted their price objective on shares of CVR Energy from $25.00 to $29.00 and gave the company a “sector underperform” rating in a research report on Thursday, April 11th.

CVR Energy Stock Performance

Shares of NYSE CVI opened at $29.49 on Monday. The company has a current ratio of 1.49, a quick ratio of 0.94 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $2.96 billion, a P/E ratio of 4.52 and a beta of 1.59. CVR Energy, Inc. has a 12 month low of $22.60 and a 12 month high of $39.36. The stock has a 50 day moving average of $34.13 and a 200-day moving average of $32.74.

CVR Energy (NYSE:CVI) last released its quarterly earnings data on Monday, April 29th. The oil and gas company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.09). The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.96 billion. CVR Energy had a return on equity of 40.14% and a net margin of 7.44%. The company’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same period last year, the firm earned $1.44 earnings per share. As a group, equities research analysts predict that CVR Energy, Inc. will post 2.4 EPS for the current year.

CVR Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be issued a $0.50 dividend. The ex-dividend date is Friday, May 10th. This represents a $2.00 annualized dividend and a yield of 6.78%. CVR Energy’s dividend payout ratio is currently 30.67%.

CVR Energy Company Profile

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.