Royce & Associates LP Decreases Holdings in CVR Energy Inc. (NYSE:CVI)

Key Points

• Royce & Associates LP has reduced its stake in CVR Energy by 13.1%, holding 82,172 shares valued at approximately $1.59 million.
• Wall Street analysts have shown bearish sentiment towards CVR Energy, with several firms downgrading its rating to "sell" or "underperform".
• The company's most recent earnings report revealed a loss per share of ($0.58), which was better than analysts' expectations of ($0.90), despite a year-over-year revenue decline of 11.6%.

Royce & Associates LP cut its holdings in CVR Energy Inc. (NYSE:CVI - Free Report) by 13.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,172 shares of the oil and gas company's stock after selling 12,336 shares during the period. Royce & Associates LP owned about 0.08% of CVR Energy worth $1,594,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. American Century Companies Inc. grew its holdings in shares of CVR Energy by 13.4% during the fourth quarter. American Century Companies Inc. now owns 693,234 shares of the oil and gas company's stock worth $12,991,000 after buying an additional 81,647 shares during the last quarter. Sei Investments Co. grew its holdings in shares of CVR Energy by 59.5% during the fourth quarter. Sei Investments Co. now owns 15,822 shares of the oil and gas company's stock worth $296,000 after buying an additional 5,900 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of CVR Energy during the fourth quarter worth about $542,000. Vanguard Group Inc. grew its holdings in shares of CVR Energy by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 4,135,315 shares of the oil and gas company's stock worth $77,496,000 after buying an additional 154,125 shares during the last quarter. Finally, Norges Bank purchased a new stake in CVR Energy in the 4th quarter valued at approximately $2,311,000. Hedge funds and other institutional investors own 98.88% of the company's stock.

CVR Energy Trading Down 6.2%

CVI traded down $1.66 during trading on Friday, hitting $25.13. The company's stock had a trading volume of 837,454 shares, compared to its average volume of 1,035,322. The firm's 50 day moving average price is $27.15 and its 200-day moving average price is $22.20. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.32 and a quick ratio of 0.85. The stock has a market cap of $2.53 billion, a PE ratio of -7.55 and a beta of 1.17. CVR Energy Inc. has a twelve month low of $15.10 and a twelve month high of $32.67.

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 analysts' consensus estimates 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 return on equity of 17.18% and a negative net margin of 4.63%. The company's quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.09 earnings per share. On average, analysts expect that CVR Energy Inc. will post -0.12 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CVI shares. Raymond James Financial lowered CVR Energy from a "market perform" rating to an "underperform" rating in a research note on Tuesday, July 15th. Wall Street Zen lowered CVR Energy from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Scotiabank boosted their price target 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. Finally, Mizuho boosted their price target on CVR Energy from $21.00 to $25.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Seven investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to data from MarketBeat.com, CVR Energy presently has a consensus rating of "Reduce" and a consensus price target 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.