Baird Financial Group Inc. Lowers Stock Position in CVR Energy, Inc. (NYSE:CVI)

Baird Financial Group Inc. lessened its stake in shares of CVR Energy, Inc. (NYSE:CVI) by 47.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,147 shares of the oil and gas company’s stock after selling 9,216 shares during the quarter. Baird Financial Group Inc.’s holdings in CVR Energy were worth $190,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its holdings in CVR Energy by 55.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,052 shares of the oil and gas company’s stock worth $38,000 after buying an additional 731 shares during the last quarter. IHT Wealth Management LLC increased its holdings in CVR Energy by 14.3% during the fourth quarter. IHT Wealth Management LLC now owns 10,176 shares of the oil and gas company’s stock worth $191,000 after buying an additional 1,275 shares during the last quarter. New York State Teachers Retirement System increased its holdings in 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 buying an additional 1,400 shares during the last quarter. Rhumbline Advisers increased its holdings in 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 buying an additional 1,479 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in CVR Energy during the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 98.88% of the company’s stock.

CVR Energy Price Performance

CVI opened at $24.00 on Friday. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 400.07 and a beta of 1.02. The company has a quick ratio of 0.86, a current ratio of 1.66 and a debt-to-equity ratio of 2.15. The firm has a 50-day moving average price of $19.45 and a 200-day moving average price of $19.09. CVR Energy, Inc. has a twelve month low of $15.10 and a twelve month high of $30.44.

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

Insider Activity

In other news, major shareholder Carl C. Icahn acquired 206,571 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was bought at an average cost of $17.79 per share, for a total transaction of $3,674,898.09. Following the completion of the transaction, the insider now owns 67,780,774 shares of the company’s stock, valued at $1,205,819,969.46. The trade was a 0.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders bought 1,641,760 shares of company stock worth $28,641,557. 0.01% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CVI shares. Mizuho raised their price objective on shares of CVR Energy from $21.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. The Goldman Sachs Group decreased their price objective 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. StockNews.com downgraded shares of CVR Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, April 30th. Finally, Scotiabank reiterated an “underperform” rating on shares of CVR Energy in a research note on Monday, May 5th. Six research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to MarketBeat, CVR Energy has an average rating of “Reduce” and a consensus target price of $23.00.

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.