CVR Energy, Inc. (NYSE:CVI) Sees Significant Increase in Short Interest

CVR Energy, Inc. (NYSE:CVI) was the target of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 6,250,000 shares, a growth of 12.6% from the November 30th total of 5,550,000 shares. Approximately 18.5% of the shares of the company are short sold. Based on an average trading volume of 1,610,000 shares, the days-to-cover ratio is presently 3.9 days.

Hedge Funds Weigh In On CVR Energy

A number of institutional investors and hedge funds have recently modified their holdings of CVI. Headlands Technologies LLC lifted its stake in shares of CVR Energy by 820.5% in the second quarter. Headlands Technologies LLC now owns 1,482 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 1,321 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of CVR Energy in the 3rd quarter worth about $43,000. Future Financial Wealth Managment LLC bought a new position in CVR Energy in the 3rd quarter valued at about $46,000. Larson Financial Group LLC boosted its stake in CVR Energy by 640.9% during the 3rd quarter. Larson Financial Group LLC now owns 3,119 shares of the oil and gas company’s stock valued at $72,000 after purchasing an additional 2,698 shares during the last quarter. Finally, Quest Partners LLC increased its holdings in CVR Energy by 47.3% during the 2nd quarter. Quest Partners LLC now owns 3,485 shares of the oil and gas company’s stock worth $93,000 after purchasing an additional 1,119 shares in the last quarter. 98.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CVI has been the subject of several research analyst reports. Mizuho lifted their target price on shares of CVR Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Scotiabank reduced their price objective on CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating for the company in a report on Thursday, October 10th. Tudor Pickering upgraded CVR Energy to a “strong sell” rating in a research note on Monday, September 9th. StockNews.com downgraded CVR Energy from a “hold” rating to a “sell” rating in a research note on Saturday, December 14th. Finally, JPMorgan Chase & Co. lowered their price objective on CVR Energy from $26.00 to $23.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 2nd. Six equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to MarketBeat.com, CVR Energy presently has a consensus rating of “Reduce” and a consensus target price of $23.00.

CVR Energy Trading Up 1.0 %

Shares of CVI stock traded up $0.18 on Wednesday, hitting $18.74. The company had a trading volume of 1,063,680 shares, compared to its average volume of 1,194,356. CVR Energy has a twelve month low of $15.60 and a twelve month high of $38.07. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.86 and a current ratio of 1.33. The firm has a market cap of $1.88 billion, a P/E ratio of 27.16 and a beta of 1.57. The stock’s 50-day moving average is $18.84 and its two-hundred day moving average is $22.77.

CVR Energy (NYSE:CVI) last issued its quarterly earnings results on Monday, October 28th. The oil and gas company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.41). CVR Energy had a return on equity of 2.88% and a net margin of 0.89%. The firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the firm posted $1.89 EPS. The firm’s revenue for the quarter was down 27.3% on a year-over-year basis. On average, equities research analysts anticipate that CVR Energy will post -0.12 earnings per share for the current fiscal year.

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.