CVR Energy, Inc. (NYSE:CVI) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its stake in CVR Energy, Inc. (NYSE:CVI) by 11.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 249,235 shares of the oil and gas company’s stock after selling 30,838 shares during the quarter. JPMorgan Chase & Co.’s holdings in CVR Energy were worth $4,671,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the company. R Squared Ltd purchased a new stake in CVR Energy during the 4th quarter worth approximately $36,000. PNC Financial Services Group Inc. increased its stake in shares of CVR Energy by 55.3% in the fourth 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 during the period. Wilmington Savings Fund Society FSB bought a new position in shares of CVR Energy in the third quarter worth $43,000. FMR LLC raised its position in shares of CVR Energy by 103.4% during the 3rd 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. Finally, New York State Teachers Retirement System boosted its stake in CVR Energy by 11.3% during the 4th quarter. New York State Teachers Retirement System now owns 13,812 shares of the oil and gas company’s stock valued at $259,000 after purchasing an additional 1,400 shares in the last quarter. 98.88% of the stock is owned by institutional investors and hedge funds.

CVR Energy Trading Up 2.1 %

CVR Energy stock opened at $18.34 on Friday. CVR Energy, Inc. has a 12 month low of $15.10 and a 12 month high of $34.08. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 305.70 and a beta of 1.26. The business has a 50 day moving average price of $18.84 and a two-hundred day moving average price of $19.57. The company has a quick ratio of 0.86, a current ratio of 1.66 and a debt-to-equity ratio of 2.15.

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

Analysts Set New Price Targets

CVI has been the topic of several research reports. StockNews.com raised CVR Energy from a “sell” rating to a “hold” rating in a report on Wednesday, February 19th. Mizuho lifted their price objective on CVR Energy from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, April 1st. The Goldman Sachs Group reduced their price objective on shares of CVR Energy from $19.00 to $16.00 and set a “sell” rating for the company in a research note on Thursday, March 27th. Finally, Scotiabank dropped their price target on shares of CVR Energy from $22.00 to $16.00 and set a “sector underperform” rating on the stock in a research report on Friday, April 11th. Five research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $21.20.

Insider Transactions at CVR Energy

In other news, major shareholder Carl C. Icahn acquired 244,200 shares of CVR Energy stock in a transaction on Monday, April 7th. The shares were purchased at an average price of $16.11 per share, with a total value of $3,934,062.00. Following the acquisition, the insider now owns 69,107,178 shares in the company, valued at $1,113,316,637.58. This represents a 0.35 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders bought 1,463,876 shares of company stock valued at $25,440,929. Corporate insiders own 0.01% of the company’s stock.

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.