Cambria Investment Management L.P. Sells 11,624 Shares of CVR Energy, Inc. (NYSE:CVI)

Cambria Investment Management L.P. reduced its position in CVR Energy, Inc. (NYSE:CVI) by 3.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 360,344 shares of the oil and gas company’s stock after selling 11,624 shares during the quarter. Cambria Investment Management L.P. owned about 0.36% of CVR Energy worth $10,796,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CVI. Janney Montgomery Scott LLC boosted its stake in shares of CVR Energy by 2.4% in the 2nd quarter. Janney Montgomery Scott LLC now owns 12,063 shares of the oil and gas company’s stock valued at $361,000 after purchasing an additional 284 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of CVR Energy by 6.9% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 9,120 shares of the oil and gas company’s stock valued at $273,000 after purchasing an additional 586 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of CVR Energy by 4.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 13,991 shares of the oil and gas company’s stock valued at $438,000 after purchasing an additional 587 shares in the last quarter. Swiss National Bank boosted its stake in shares of CVR Energy by 0.9% in the 2nd quarter. Swiss National Bank now owns 65,700 shares of the oil and gas company’s stock valued at $1,968,000 after purchasing an additional 600 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of CVR Energy by 7.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,506 shares of the oil and gas company’s stock valued at $285,000 after purchasing an additional 686 shares in the last quarter. 98.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CVI shares. StockNews.com started coverage on shares of CVR Energy in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. The Goldman Sachs Group raised their price target on shares of CVR Energy from $28.00 to $31.00 and gave the company a “sell” rating in a research note on Friday, September 1st.

CVR Energy Trading Up 0.1 %

NYSE:CVI traded up $0.03 during mid-day trading on Wednesday, hitting $32.07. 48,729 shares of the company’s stock were exchanged, compared to its average volume of 1,024,562. The company has a 50 day simple moving average of $32.91 and a 200-day simple moving average of $31.01. The company has a current ratio of 1.44, a quick ratio of 0.97 and a debt-to-equity ratio of 1.37. CVR Energy, Inc. has a fifty-two week low of $22.60 and a fifty-two week high of $41.18. The firm has a market capitalization of $3.22 billion, a P/E ratio of 4.08 and a beta of 1.63.

CVR Energy Increases Dividend

The firm also recently announced a None dividend, which will be paid on Monday, November 20th. Investors of record on Monday, November 13th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, November 10th. This is an increase from CVR Energy’s previous None dividend of $1.00. This represents a yield of 6%. CVR Energy’s dividend payout ratio (DPR) is currently 25.48%.

Insider Transactions at CVR Energy

In other news, major shareholder Carl C. Icahn sold 149,261 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $35.15, for a total value of $5,246,524.15. Following the transaction, the insider now owns 71,049,457 shares in the company, valued at approximately $2,497,388,413.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Carl C. Icahn sold 149,261 shares of CVR Energy stock in a transaction on Friday, August 18th. The shares were sold at an average price of $35.15, for a total value of $5,246,524.15. Following the completion of the sale, the insider now owns 71,049,457 shares in the company, valued at approximately $2,497,388,413.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Carl C. Icahn sold 9,529 shares of CVR Energy stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $33.26, for a total transaction of $316,934.54. Following the completion of the sale, the insider now owns 70,792,381 shares of the company’s stock, valued at approximately $2,354,554,592.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,379,033 shares of company stock worth $154,031,842. Company insiders own 0.01% of the company’s stock.

About CVR Energy

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