Geode Capital Management LLC Decreases Stake in CVR Energy, Inc. (NYSE:CVI)

Geode Capital Management LLC lessened its holdings in shares of CVR Energy, Inc. (NYSE:CVI) by 4.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 770,986 shares of the oil and gas company’s stock after selling 32,678 shares during the period. Geode Capital Management LLC owned 0.77% of CVR Energy worth $17,759,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CVI. Bank of New York Mellon Corp raised its holdings in shares of CVR Energy by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 975,323 shares of the oil and gas company’s stock worth $26,109,000 after acquiring an additional 3,134 shares during the period. Empirical Finance LLC raised its stake in CVR Energy by 16.6% during the second quarter. Empirical Finance LLC now owns 19,837 shares of the oil and gas company’s stock worth $531,000 after purchasing an additional 2,829 shares during the period. Rothschild Investment LLC acquired a new position in CVR Energy in the 2nd quarter valued at about $530,000. Commonwealth Equity Services LLC grew its stake in shares of CVR Energy by 104.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 16,704 shares of the oil and gas company’s stock valued at $447,000 after buying an additional 8,537 shares during the period. Finally, Hussman Strategic Advisors Inc. acquired a new stake in shares of CVR Energy during the 2nd quarter worth approximately $1,687,000. Hedge funds and other institutional investors own 98.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CVI. StockNews.com cut CVR Energy from a “hold” rating to a “sell” rating in a research note on Saturday, December 14th. JPMorgan Chase & Co. cut their price objective on CVR Energy from $26.00 to $23.00 and set an “underweight” rating for the company in a research report on Wednesday, October 2nd. The Goldman Sachs Group decreased their target price on shares of CVR Energy from $24.00 to $21.00 and set a “sell” rating on the stock in a research report on Friday, December 6th. 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. Finally, Scotiabank decreased their price objective 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. Six equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $23.00.

CVR Energy Stock Performance

Shares of CVI stock opened at $18.47 on Friday. CVR Energy, Inc. has a 52 week low of $15.60 and a 52 week high of $38.07. The firm has a 50 day moving average of $19.07 and a two-hundred day moving average of $22.92. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 1.84. The stock has a market capitalization of $1.86 billion, a PE ratio of 26.77 and a beta of 1.57.

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 for the quarter, missing the consensus estimate of ($0.09) by ($0.41). The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.91 billion. CVR Energy had a return on equity of 2.88% and a net margin of 0.89%. CVR Energy’s revenue for the quarter was down 27.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.89 EPS. On average, research analysts predict that CVR Energy, Inc. will post -0.12 EPS 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.