KLP Kapitalforvaltning AS Decreases Stock Holdings in CVR Energy Inc. (NYSE:CVI)

KLP Kapitalforvaltning AS lowered its stake in shares of CVR Energy Inc. (NYSE:CVI) by 30.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,000 shares of the oil and gas company’s stock after selling 8,900 shares during the period. KLP Kapitalforvaltning AS’s holdings in CVR Energy were worth $388,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. lifted its holdings in shares of CVR Energy by 65.5% in the first quarter. Harbor Capital Advisors Inc. now owns 1,633 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 646 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of CVR Energy by 106.6% in the first quarter. GAMMA Investing LLC now owns 2,159 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 1,114 shares in the last quarter. CWM LLC lifted its holdings in shares of CVR Energy by 304.2% in the first quarter. CWM LLC now owns 2,676 shares of the oil and gas company’s stock valued at $52,000 after purchasing an additional 2,014 shares in the last quarter. IHT Wealth Management LLC lifted its holdings in shares of CVR Energy by 14.3% in the fourth quarter. IHT Wealth Management LLC now owns 10,176 shares of the oil and gas company’s stock valued at $191,000 after purchasing an additional 1,275 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new stake in shares of CVR Energy in the fourth quarter valued at about $193,000. Hedge funds and other institutional investors own 98.88% of the company’s stock.

CVR Energy Stock Performance

Shares of CVI stock opened at $28.19 on Thursday. CVR Energy Inc. has a one year low of $15.10 and a one year high of $32.67. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.85 and a current ratio of 1.32. The company has a 50 day moving average price of $27.09 and a 200 day moving average price of $22.17. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of -14.31 and a beta of 1.17.

CVR Energy (NYSE:CVI) last issued its quarterly earnings results on Wednesday, July 30th. The oil and gas company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.15). CVR Energy had a negative return on equity of 12.66% and a negative net margin of 2.68%. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the company posted $0.09 EPS. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. Sell-side analysts anticipate that CVR Energy Inc. will post -0.12 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on CVI. Mizuho upped their price target on shares of CVR Energy from $21.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. Raymond James Financial downgraded shares of CVR Energy from a “market perform” rating to an “underperform” rating in a report on Tuesday, July 15th. Wall Street Zen lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, April 30th. Finally, Scotiabank boosted their price objective on shares of CVR Energy from $21.00 to $25.00 and gave the company a “sector underperform” rating in a research report on Friday, July 11th. Seven investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $23.80.

CVR Energy Company Profile

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.