Rafferty Asset Management LLC Sells 9,199 Shares of CVR Energy Inc. $CVI

Key Points

• Rafferty Asset Management LLC reduced its stake in CVR Energy by 15.8% during the first quarter, owning 48,903 shares valued at $949,000.
• Institutional investors control 98.88% of CVR Energy's stock, with notable increases in holdings by firms like GAMMA Investing and Millennium Management.
• CVR Energy reported a quarterly loss of ($0.23) earnings per share, falling short of analysts' estimates, amidst a 10.5% decline in year-over-year revenue.

Rafferty Asset Management LLC cut its stake in shares of CVR Energy Inc. (NYSE:CVI - Free Report) by 15.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 48,903 shares of the oil and gas company's stock after selling 9,199 shares during the period. Rafferty Asset Management LLC's holdings in CVR Energy were worth $949,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CVI. Harbor Capital Advisors Inc. raised its stake in 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 valued at $32,000 after buying an additional 646 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in 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 valued at $38,000 after buying an additional 1,772 shares during the last quarter. GAMMA Investing LLC raised its stake in 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 valued at $42,000 after buying an additional 1,114 shares during the last quarter. CWM LLC raised its stake in CVR Energy by 304.2% during the 1st quarter. CWM LLC now owns 2,676 shares of the oil and gas company's stock valued at $52,000 after buying an additional 2,014 shares during the last quarter. Finally, ProShare Advisors LLC purchased a new stake in shares of CVR Energy in the 4th quarter worth $193,000. 98.88% of the stock is currently owned by hedge funds and other institutional investors.

CVR Energy Price Performance

CVI stock traded up $0.41 during trading on Friday, reaching $31.38. The company's stock had a trading volume of 2,094,450 shares, compared to its average volume of 1,939,249. CVR Energy Inc. has a 1 year low of $15.10 and a 1 year high of $32.67. The company has a quick ratio of 0.75, a current ratio of 1.17 and a debt-to-equity ratio of 2.78. The company has a market capitalization of $3.15 billion, a P/E ratio of -9.45 and a beta of 1.32. The company's fifty day moving average is $28.54 and its 200-day moving average is $23.72.

CVR Energy (NYSE:CVI - Get Free Report) last released its quarterly earnings data 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 net margin of 4.63% and a negative return on equity of 18.11%. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the company earned $0.09 EPS. The firm's revenue for the quarter was down 10.5% on a year-over-year basis. On average, research analysts expect that CVR Energy Inc. will post -0.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Mizuho upped their price objective on CVR Energy from $21.00 to $25.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Raymond James Financial lowered CVR Energy from a "market perform" rating to an "underperform" rating in a research note on Tuesday, July 15th. Finally, Scotiabank upped their price objective on CVR Energy from $21.00 to $25.00 and gave the stock a "sector underperform" rating in a research note on Friday, July 11th. One research analyst has rated the stock with a Hold rating and six have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Strong Sell" and a consensus target price of $22.25.

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.