Advisors Asset Management Inc. Has $5.27 Million Stake in CVR Energy Inc. $CVI

Key Points

• Advisors Asset Management Inc. reduced its stake in CVR Energy Inc. by 21.2%, selling 72,927 shares and holding a total of 271,755 shares valued at approximately $5.27 million.
• Several hedge funds, including GAMMA Investing LLC and Millennium Management LLC, significantly increased their positions in CVR Energy, with Millennium Management boosting holdings by 1,203.0%.
• CVR Energy reported a loss of ($0.23) earnings per share for the last quarter, missing analysts' expectations, and has a consensus rating of "Strong Sell" with an average price target of $22.25.

Advisors Asset Management Inc. decreased its holdings in shares of CVR Energy Inc. (NYSE:CVI - Free Report) by 21.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 271,755 shares of the oil and gas company's stock after selling 72,927 shares during the period. Advisors Asset Management Inc. owned about 0.27% of CVR Energy worth $5,272,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CVI. Harbor Capital Advisors Inc. lifted its holdings in 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 worth $32,000 after purchasing an additional 646 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in CVR Energy by 1,030.2% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,944 shares of the oil and gas company's stock worth $38,000 after purchasing an additional 1,772 shares during the period. GAMMA Investing LLC lifted its holdings in 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 worth $42,000 after purchasing an additional 1,114 shares during the period. CWM LLC lifted its holdings in CVR Energy by 304.2% in the first quarter. CWM LLC now owns 2,676 shares of the oil and gas company's stock worth $52,000 after purchasing an additional 2,014 shares during the period. Finally, ProShare Advisors LLC acquired a new stake in CVR Energy in the fourth quarter worth about $193,000. Institutional investors and hedge funds own 98.88% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CVI shares. Raymond James Financial downgraded shares of CVR Energy from a "market perform" rating to an "underperform" rating in a report on Tuesday, July 15th. Mizuho boosted their price target on shares of CVR Energy from $21.00 to $25.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Finally, Scotiabank boosted their price target on shares of CVR Energy from $21.00 to $25.00 and gave the stock a "sector underperform" rating in a research report on Friday, July 11th. One analyst has rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Strong Sell" and an average target price of $22.25.

CVR Energy Trading Up 7.3%

NYSE CVI traded up $2.25 on Tuesday, hitting $33.08. 3,498,153 shares of the company were exchanged, compared to its average volume of 1,200,831. The company's 50 day moving average price is $28.62 and its 200-day moving average price is $23.82. The company has a debt-to-equity ratio of 2.78, a current ratio of 1.17 and a quick ratio of 0.75. The firm has a market capitalization of $3.33 billion, a P/E ratio of -9.96 and a beta of 1.32. CVR Energy Inc. has a twelve month low of $15.10 and a twelve month high of $33.24.

CVR Energy (NYSE:CVI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The oil and gas company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.15). The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.73 billion. CVR Energy had a negative return on equity of 18.11% and a negative net margin of 4.63%.CVR Energy's quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 EPS. 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.