Royce & Associates LP Lowers Stock Holdings in CVR Energy, Inc. (NYSE:CVI)

Royce & Associates LP lowered its stake in CVR Energy, Inc. (NYSE:CVI) by 6.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 94,508 shares of the oil and gas company’s stock after selling 6,535 shares during the period. Royce & Associates LP owned 0.09% of CVR Energy worth $1,771,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of CVR Energy in the third quarter worth $43,000. R Squared Ltd purchased a new stake in CVR Energy during the 4th quarter valued at about $36,000. PNC Financial Services Group Inc. increased its stake in CVR Energy by 55.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,052 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 731 shares in the last quarter. Larson Financial Group LLC raised its holdings in CVR Energy by 640.9% in the third quarter. Larson Financial Group LLC now owns 3,119 shares of the oil and gas company’s stock worth $72,000 after buying an additional 2,698 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of CVR Energy by 103.4% in the third quarter. FMR LLC now owns 4,031 shares of the oil and gas company’s stock worth $93,000 after buying an additional 2,049 shares in the last quarter. Institutional investors own 98.88% of the company’s stock.

CVR Energy Stock Performance

Shares of NYSE CVI opened at $21.83 on Friday. CVR Energy, Inc. has a 12-month low of $15.60 and a 12-month high of $38.07. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 363.86 and a beta of 1.55. The company has a current ratio of 1.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.15. The firm has a 50 day moving average of $19.57 and a 200 day moving average of $20.32.

CVR Energy (NYSE:CVI) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.12). The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.85 billion. CVR Energy had a net margin of 0.09% and a negative return on equity of 5.12%. On average, research analysts anticipate that CVR Energy, Inc. will post -0.12 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Carl C. Icahn acquired 138,853 shares of CVR Energy stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average cost of $18.01 per share, with a total value of $2,500,742.53. Following the completion of the purchase, the insider now directly owns 68,446,293 shares in the company, valued at approximately $1,232,717,736.93. This trade represents a 0.20 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have bought 1,492,540 shares of company stock worth $27,049,928. Company insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CVI. The Goldman Sachs Group reduced their price target on shares of CVR Energy from $24.00 to $21.00 and set a “sell” rating for the company in a research report on Friday, December 6th. StockNews.com raised CVR Energy from a “sell” rating to a “hold” rating in a report on Wednesday, February 19th. Finally, Mizuho upped their price target on CVR Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Five research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat, CVR Energy has an average rating of “Reduce” and a consensus target price of $23.00.

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.