CANADA LIFE ASSURANCE Co Decreases Stock Position in CVR Energy, Inc. (NYSE:CVI)

CANADA LIFE ASSURANCE Co decreased its stake in shares of CVR Energy, Inc. (NYSE:CVI) by 15.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 37,697 shares of the oil and gas company’s stock after selling 7,044 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in CVR Energy were worth $706,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CVI. PNC Financial Services Group Inc. grew its position in shares of CVR Energy by 55.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,052 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 731 shares during the last quarter. New York State Teachers Retirement System grew its holdings in shares of CVR Energy by 11.3% during the fourth quarter. New York State Teachers Retirement System now owns 13,812 shares of the oil and gas company’s stock worth $259,000 after purchasing an additional 1,400 shares during the last quarter. Rhumbline Advisers increased its position in shares of CVR Energy by 1.3% during the fourth quarter. Rhumbline Advisers now owns 115,064 shares of the oil and gas company’s stock worth $2,156,000 after purchasing an additional 1,479 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of CVR Energy in the 3rd quarter valued at about $43,000. Finally, R Squared Ltd acquired a new stake in shares of CVR Energy in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 98.88% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at CVR Energy

In other CVR Energy news, major shareholder Carl C. Icahn acquired 3,610 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was bought at an average cost of $18.24 per share, for a total transaction of $65,846.40. Following the completion of the purchase, the insider now directly owns 67,574,203 shares in the company, valued at $1,232,553,462.72. This represents a 0.01 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders acquired 1,633,853 shares of company stock worth $28,497,570. Insiders own 0.01% of the company’s stock.

CVR Energy Trading Up 4.0 %

Shares of CVI opened at $19.45 on Wednesday. The firm’s 50-day moving average is $18.78 and its two-hundred day moving average is $19.25. The firm has a market capitalization of $1.96 billion, a P/E ratio of 324.22 and a beta of 1.26. The company has a current ratio of 1.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.15. CVR Energy, Inc. has a twelve month low of $15.10 and a twelve month high of $33.51.

CVR Energy (NYSE:CVI) last issued its quarterly earnings data on Monday, April 28th. The oil and gas company reported ($0.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.90) by $0.32. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.61 billion. CVR Energy had a negative return on equity of 5.12% and a net margin of 0.09%. CVR Energy’s revenue was down 11.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.04 earnings per share. On average, research analysts predict that CVR Energy, Inc. will post -0.12 earnings per share 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.