Invesco Ltd. Sells 109,978 Shares of CVR Energy Inc. $CVI

Key Points

• Invesco Ltd. reduced its stake in CVR Energy by 10% in Q1, now holding 989,151 shares, valued at approximately $19.19 million.
• CVR Energy reported a loss of ($0.23) EPS for the last quarter, missing estimates, while its revenue was $1.76 billion, slightly exceeding expectations.
• Analysts have downgraded CVR Energy with an average rating of "Strong Sell" and a target price of $22.25 following recent underperformance.

Invesco Ltd. reduced its holdings in shares of CVR Energy Inc. (NYSE:CVI - Free Report) by 10.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 989,151 shares of the oil and gas company's stock after selling 109,978 shares during the period. Invesco Ltd. owned 0.98% of CVR Energy worth $19,190,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in CVR Energy by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 4,159,992 shares of the oil and gas company's stock worth $80,704,000 after acquiring an additional 24,677 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of CVR Energy by 12.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,181,295 shares of the oil and gas company's stock worth $40,876,000 after purchasing an additional 238,081 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of CVR Energy by 14.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 894,193 shares of the oil and gas company's stock worth $17,347,000 after purchasing an additional 111,114 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of CVR Energy by 36.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 776,313 shares of the oil and gas company's stock worth $14,548,000 after purchasing an additional 207,872 shares in the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of CVR Energy by 56.2% during the 4th quarter. Two Sigma Investments LP now owns 750,195 shares of the oil and gas company's stock worth $14,059,000 after purchasing an additional 269,763 shares in the last quarter. 98.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CVI shares. Wall Street Zen cut shares of CVR Energy from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. Mizuho increased their price objective 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. Scotiabank increased their price objective 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. Finally, Raymond James Financial cut shares of CVR Energy from a "market perform" rating to an "underperform" rating in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a Hold rating and six have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Strong Sell" and a consensus price target of $22.25.

CVR Energy Stock Up 4.8%

NYSE CVI traded up $1.35 during trading hours on Wednesday, hitting $29.61. The company's stock had a trading volume of 2,258,244 shares, compared to its average volume of 1,964,974. CVR Energy Inc. has a 52 week low of $15.10 and a 52 week high of $32.67. The company has a market capitalization of $2.98 billion, a PE ratio of -8.92 and a beta of 1.20. The company has a current ratio of 1.17, a quick ratio of 0.75 and a debt-to-equity ratio of 2.78. The company's 50-day simple moving average is $28.01 and its two-hundred day simple moving average is $23.12.

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). CVR Energy had a negative net margin of 4.63% and a negative return on equity of 18.11%. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the business posted $0.09 EPS. CVR Energy's revenue was down 10.5% compared to the same quarter last year. Research analysts anticipate that CVR Energy Inc. will post -0.12 EPS for the current fiscal year.

CVR Energy 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.