CVR Energy Inc. $CVI Shares Sold by Advisors Asset Management Inc.

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 position in shares of CVR Energy Inc. (NYSE:CVI - Free Report) by 21.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 271,755 shares of the oil and gas company's stock after selling 72,927 shares during the quarter. Advisors Asset Management Inc. owned 0.27% of CVR Energy worth $5,272,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. grew its stake in shares of CVR Energy by 65.5% during the 1st 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 grew its stake in shares of CVR Energy by 1,030.2% during the 1st 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 grew its stake in shares of CVR Energy by 106.6% during the 1st 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 grew its stake in shares of CVR Energy by 304.2% during the 1st 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 shares of CVR Energy during the 4th quarter worth approximately $193,000. Institutional investors and hedge funds own 98.88% of the company's stock.

CVR Energy Trading Down 4.4%

Shares of CVI stock traded down $1.44 on Wednesday, hitting $31.69. 663,561 shares of the stock traded hands, compared to its average volume of 1,196,511. The firm's 50-day moving average price is $28.73 and its two-hundred day moving average price is $23.89. The company has a debt-to-equity ratio of 2.78, a quick ratio of 0.75 and a current ratio of 1.17. The stock has a market capitalization of $3.19 billion, a PE ratio of -9.56 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 announced its quarterly earnings results on Wednesday, July 30th. The oil and gas company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.15). The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.73 billion. CVR Energy had a negative net margin of 4.63% and a negative return on equity of 18.11%. The company's revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 EPS. As a group, analysts anticipate that CVR Energy Inc. will post -0.12 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CVI. Raymond James Financial cut shares of CVR Energy from a "market perform" rating to an "underperform" rating in a research note on Tuesday, July 15th. Mizuho lifted their price target on shares of CVR Energy from $21.00 to $25.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Finally, Scotiabank lifted their price target on shares of CVR Energy from $21.00 to $25.00 and gave the company a "sector underperform" rating in a research note on Friday, July 11th. One analyst has rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, CVR Energy currently has a consensus rating of "Strong Sell" and a consensus price target of $22.25.

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.