Rafferty Asset Management LLC Decreases Stock Position in CVR Energy, Inc. (NYSE:CVI)

Rafferty Asset Management LLC lessened its position in CVR Energy, Inc. (NYSE:CVI) by 11.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,102 shares of the oil and gas company’s stock after selling 7,668 shares during the quarter. Rafferty Asset Management LLC owned about 0.06% of CVR Energy worth $1,089,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CVI. Barclays PLC lifted its position in shares of CVR Energy by 214.3% in the third quarter. Barclays PLC now owns 78,030 shares of the oil and gas company’s stock valued at $1,797,000 after acquiring an additional 53,203 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of CVR Energy by 14.3% in the fourth quarter. SG Americas Securities LLC now owns 24,319 shares of the oil and gas company’s stock valued at $456,000 after acquiring an additional 3,050 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in shares of CVR Energy by 25.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 93,766 shares of the oil and gas company’s stock valued at $1,757,000 after acquiring an additional 19,265 shares in the last quarter. R Squared Ltd purchased a new position in shares of CVR Energy in the fourth quarter valued at approximately $36,000. Finally, Groesbeck Investment Management Corp NJ purchased a new position in shares of CVR Energy in the fourth quarter valued at approximately $637,000. Hedge funds and other institutional investors own 98.88% of the company’s stock.

Insider Activity at CVR Energy

In related news, major shareholder Carl C. Icahn bought 244,200 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was purchased at an average cost of $16.11 per share, with a total value of $3,934,062.00. Following the purchase, the insider now directly owns 69,107,178 shares of the company’s stock, valued at $1,113,316,637.58. This trade represents a 0.35% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In the last 90 days, insiders have bought 1,641,760 shares of company stock worth $28,641,557. 0.01% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. StockNews.com downgraded CVR Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, April 30th. Mizuho lifted their price objective on CVR Energy from $21.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 13th. The Goldman Sachs Group reduced their price objective on CVR Energy from $19.00 to $16.00 and set a “sell” rating on the stock in a research report on Thursday, March 27th. Finally, Scotiabank reiterated an “underperform” rating on shares of CVR Energy in a research report on Monday, May 5th. Six research analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $23.00.

CVR Energy Price Performance

NYSE:CVI opened at $22.24 on Thursday. CVR Energy, Inc. has a 52 week low of $15.10 and a 52 week high of $30.44. The company has a quick ratio of 0.86, a current ratio of 1.66 and a debt-to-equity ratio of 2.15. The company has a market capitalization of $2.24 billion, a P/E ratio of 370.75 and a beta of 1.02. The stock’s fifty day moving average is $19.72 and its two-hundred day moving average is $19.23.

CVR Energy (NYSE:CVI) last posted its quarterly earnings data on Monday, April 28th. The oil and gas company reported ($0.58) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.32. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.61 billion. CVR Energy had a negative return on equity of 5.12% and a net margin of 0.09%. The company’s quarterly 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 EPS. Equities analysts expect that CVR Energy, Inc. will post -0.12 EPS for the current 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.