Principal Financial Group Inc. Reduces Holdings in CVR Energy, Inc. (NYSE:CVI)

Principal Financial Group Inc. trimmed its stake in CVR Energy, Inc. (NYSE:CVI) by 5.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 161,844 shares of the oil and gas company’s stock after selling 8,997 shares during the period. Principal Financial Group Inc. owned 0.16% of CVR Energy worth $3,727,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Amalgamated Bank increased its stake in shares of CVR Energy by 9.6% in the 3rd quarter. Amalgamated Bank now owns 9,716 shares of the oil and gas company’s stock worth $224,000 after acquiring an additional 849 shares in the last quarter. State of Alaska Department of Revenue increased its stake in CVR Energy by 14.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 19,505 shares of the oil and gas company’s stock valued at $449,000 after purchasing an additional 2,388 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in CVR Energy by 12.2% during the 3rd quarter. Louisiana State Employees Retirement System now owns 16,500 shares of the oil and gas company’s stock valued at $380,000 after purchasing an additional 1,800 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of CVR Energy in the third quarter worth approximately $382,000. Finally, Everence Capital Management Inc. grew its stake in shares of CVR Energy by 34.4% in the third quarter. Everence Capital Management Inc. now owns 42,150 shares of the oil and gas company’s stock worth $971,000 after acquiring an additional 10,790 shares during the period. 98.88% of the stock is currently owned by institutional investors.

CVR Energy Stock Up 0.7 %

NYSE:CVI opened at $18.83 on Friday. CVR Energy, Inc. has a 1-year low of $15.60 and a 1-year high of $38.07. The company has a 50-day moving average of $21.69 and a 200 day moving average of $24.74. The firm has a market cap of $1.89 billion, a PE ratio of 27.28 and a beta of 1.52. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.33 and a quick ratio of 0.86.

CVR Energy (NYSE:CVI) last released its quarterly earnings results on Monday, October 28th. The oil and gas company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.41). CVR Energy had a net margin of 0.89% and a return on equity of 2.88%. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the company posted $1.89 earnings per share. The business’s quarterly revenue was down 27.3% compared to the same quarter last year. As a group, research analysts anticipate that CVR Energy, Inc. will post 0.12 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on CVI. UBS Group dropped their price objective on shares of CVR Energy from $33.75 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Scotiabank lowered their price target on shares of CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating on the stock in a report on Thursday, October 10th. Tudor Pickering raised shares of CVR Energy to a “strong sell” rating in a report on Monday, September 9th. StockNews.com cut shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, October 30th. Finally, Tudor, Pickering, Holt & Co. cut shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Five equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. Based on data from MarketBeat, CVR Energy presently has an average rating of “Reduce” and a consensus price target of $24.75.

CVR Energy Profile

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.