CVR Energy, Inc. (NYSE:CVI) Stake Lifted by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC lifted its stake in shares of CVR Energy, Inc. (NYSE:CVI) by 2.5% during the first quarter, Holdings Channel.com reports. The fund owned 31,707 shares of the oil and gas company’s stock after purchasing an additional 759 shares during the period. SummerHaven Investment Management LLC’s holdings in CVR Energy were worth $615,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. boosted its stake in CVR Energy by 65.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 1,633 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 646 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of CVR Energy by 55.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,052 shares of the oil and gas company’s stock worth $38,000 after buying an additional 731 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of CVR Energy by 106.6% in the first quarter. GAMMA Investing LLC now owns 2,159 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 1,114 shares during the period. IHT Wealth Management LLC boosted its stake in CVR Energy by 14.3% during the fourth quarter. IHT Wealth Management LLC now owns 10,176 shares of the oil and gas company’s stock valued at $191,000 after buying an additional 1,275 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new position in CVR Energy during the fourth quarter worth about $193,000. Institutional investors own 98.88% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CVI. The Goldman Sachs Group cut their price target on shares of CVR Energy from $19.00 to $16.00 and set a “sell” rating for the company in a report on Thursday, March 27th. Mizuho increased their target price on shares of CVR Energy from $21.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, May 13th. Scotiabank restated an “underperform” rating on shares of CVR Energy in a report on Monday, May 5th. Finally, Wall Street Zen lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, April 30th. Six research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. Based on data from MarketBeat, CVR Energy currently has an average rating of “Reduce” and a consensus price target of $23.00.

CVR Energy Price Performance

NYSE CVI opened at $25.68 on Friday. The company has a current ratio of 1.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.15. CVR Energy, Inc. has a 1 year low of $15.10 and a 1 year high of $29.84. The company has a market cap of $2.58 billion, a PE ratio of 428.07 and a beta of 1.13. The stock’s 50-day moving average price is $21.05 and its two-hundred day moving average price is $19.84.

CVR Energy (NYSE:CVI) last released its quarterly earnings results on Monday, April 28th. The oil and gas company reported ($0.58) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.32. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.61 billion. CVR Energy had a net margin of 0.09% and a negative return on equity of 5.12%. The firm’s revenue was down 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.04 earnings per share. On average, analysts predict that CVR Energy, Inc. will post -0.12 EPS for the current year.

Insider Buying and Selling at CVR Energy

In other CVR Energy news, major shareholder Carl C. Icahn bought 61,108 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average price of $18.12 per share, with a total value of $1,107,276.96. Following the completion of the transaction, the insider now directly owns 68,595,378 shares in the company, valued at approximately $1,242,948,249.36. This represents a 0.09% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have bought a total of 1,027,432 shares of company stock valued at $17,618,998 in the last three months. 0.01% of the stock is currently owned by company insiders.

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.