BlackRock Fund Advisors recently announced the acquisition of new stake in CVR Energy Inc (NYSE:CVI). The institutional investor has increased its shareholding in the Energy company by 6.27% to 4.87 million shares with purchase of 0.29 million shares. This fresh investment now brings its stake to 4.84% valued currently at $147.42 million. In addition, Pacer Advisors, Inc. raised its holdings by 0.17 million to 1.92 million shares. And Dimensional Fund Advisors LP has lifted its position by 5.02% or 83207.0 shares – to 1.74 million shares.
With over 0.44 million CVR Energy Inc (CVI) shares trading Friday and a closing price of $30.84 on the day, the dollar volume was approximately $13.68 million. The shares have shown a positive half year performance of 8.28% and its price on 01/12/24 gained nearly 1.75%. Currently, there are 100.53M common shares owned by the public and among those 100.53M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for CVI have a consensus price objective of $31.40. The analysts have set the share’s price value over the next 12 months at a high of $37.00 and a low of $28.00. The average price target is 1.78% above its recent price level and a downside to the estimated low will see the stock lose -10.14% over that period. But an upside of 16.65% will see the stock hit the forecast high price target while median target price for the stock is $30.00.
Insiders at the company have transacted a total of 11 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 3 of these insider trades were purchases, accounting for 10,778 shares. Insider sales of the common stock occurred on 8 occasions, with total insider shares sold totaling 4,517,115 shares.
The top 3 mutual fund holders in CVR Energy Inc are Pacer Fds. Tr. – US Small Cap Cas, iShares Core S&P Small Cap ETF, and SPDR S&P Oil & Gas Exploration &. Pacer Fds. Tr. – US Small Cap Cas owns 4.17 million shares of the company’s stock, all valued at over $126.38 million. The company bought an additional 17568.0 shares recently to bring their total holdings to about 4.15% of the shares outstanding. iShares Core S&P Small Cap ETF sold 9364.0 shares to see its total holdings shrink to 1.95 million shares valued at over $59.12 million and representing 1.94% of the shares outstanding. SPDR S&P Oil & Gas Exploration & bought 35486.0 shares to bring its total holdings to over 1.73 million shares at a value of $52.45 million. SPDR S&P Oil & Gas Exploration & now owns shares totaling to 1.72% of the shares outstanding.
Shares of CVR Energy Inc (NYSE: CVI) opened at $30.89, up $0.58 from a prior closing price of $30.31. The company’s stock has a 5-day price change of -1.12% and 2.91% over the past three months. CVI shares are trading 1.78% year to date (YTD), with the 12-month market performance up to 6.41% higher. It has a 12-month low price of $20.94 and touched a high of $36.47 over the same period. CVI has an average intraday trading volume of 918.29K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.07%, -1.11%, and 4.78% respectively.
Institutional ownership of CVR Energy Inc (NYSE: CVI) shares accounts for 102.23% of the company’s 100.53M shares outstanding. Mutual fund holders own 77.66%, while other institutional holders and individual stakeholders account for 79.66% and 24.93% respectively.
It has a market capitalization of $3.10B and a beta (3y monthly) value of 1.61. The stock’s trailing 12-month PE ratio is 3.92, while the earnings-per-share (ttm) stands at $7.86. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.16% over the week and 2.72% over the month.
Analysts forecast that CVR Energy Inc (CVI) will achieve an EPS of $CVS Health Corporation for the current quarter, $76.56 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $The Cigna Group while analysts give the company a high EPS estimate of $Cenovus Energy Inc. Comparatively, EPS for the current quarter was $Crown Castle Inc. a year ago. Earnings per share for the fiscal year are expected to decrease by -9.16%, and -50.17% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate CVR Energy Inc (CVI) as a “Hold” at a consensus score of 3.57. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 5 of the 7 advise that investors “hold,” and 2 rated it as a “Sell.”
Looking at the support for the CVI, a number of firms have released research notes about the stock. UBS stated their Neutral rating for the stock in a research note on March 09, 2023, with the firm’s price target at $36.
