Exchange Traded Concepts LLC Raises Stock Holdings in CVR Energy, Inc. (NYSE:CVI)

Exchange Traded Concepts LLC raised its position in shares of CVR Energy, Inc. (NYSE:CVI) by 25.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 93,766 shares of the oil and gas company’s stock after buying an additional 19,265 shares during the period. Exchange Traded Concepts LLC’s holdings in CVR Energy were worth $1,757,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC boosted its holdings in shares of CVR Energy by 14.3% during the fourth quarter. SG Americas Securities LLC now owns 24,319 shares of the oil and gas company’s stock worth $456,000 after purchasing an additional 3,050 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in CVR Energy in the 3rd quarter worth approximately $43,000. Barclays PLC grew its position in shares of CVR Energy by 214.3% in the 3rd quarter. Barclays PLC now owns 78,030 shares of the oil and gas company’s stock worth $1,797,000 after buying an additional 53,203 shares during the last quarter. Vestcor Inc increased its stake in shares of CVR Energy by 401.4% during the third quarter. Vestcor Inc now owns 24,233 shares of the oil and gas company’s stock valued at $558,000 after buying an additional 19,400 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of CVR Energy during the third quarter valued at approximately $1,302,000. Institutional investors own 98.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CVI shares. JPMorgan Chase & Co. reduced their price objective on shares of CVR Energy from $26.00 to $23.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 2nd. StockNews.com cut shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Saturday, December 14th. Mizuho raised their price objective on shares of CVR Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. The Goldman Sachs Group decreased their target price on CVR Energy from $24.00 to $21.00 and set a “sell” rating for the company in a research report on Friday, December 6th. Finally, Scotiabank lowered their target price on CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating for the company in a research note 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. According to data from MarketBeat.com, CVR Energy currently has a consensus rating of “Reduce” and a consensus target price of $23.00.

Insider Activity

In other news, major shareholder Carl C. Icahn acquired 878,212 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were bought at an average cost of $18.25 per share, with a total value of $16,027,369.00. Following the transaction, the insider now owns 67,570,593 shares of the company’s stock, valued at $1,233,163,322.25. This trade represents a 1.32 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.01% of the company’s stock.

CVR Energy Price Performance

CVI stock opened at $20.69 on Monday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.86 and a current ratio of 1.33. The firm has a 50 day moving average price of $19.18 and a 200-day moving average price of $21.96. CVR Energy, Inc. has a 52-week low of $15.60 and a 52-week high of $38.07. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 29.98 and a beta of 1.58.

CVR Energy (NYSE:CVI) last announced its quarterly earnings data on Monday, October 28th. The oil and gas company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.41). CVR Energy had a net margin of 0.89% and a return on equity of 2.88%. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the previous year, the firm posted $1.89 EPS. The firm’s quarterly revenue was down 27.3% compared to the same quarter last year. Equities research analysts forecast that CVR Energy, Inc. will post -0.86 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.