Royce & Associates LP Sells 33,372 Shares of CVR Energy Inc. $CVI

Key Points

• Royce & Associates LP reduced its CVR Energy stake by 66.8% in the fourth quarter, selling 33,372 shares and leaving it with 16,567 shares valued at about $421,000.
• Analysts remain largely bearish on CVR Energy: the stock carries a “Strong Sell” consensus rating, with two Holds and four Sells, and an average price target of $32.50.
• CVR Energy reported a wider-than-expected quarterly loss of $1.24 per share even as revenue rose 20.3% year over year to $1.98 billion; the company also paid a quarterly dividend of $0.10 per share, yielding about 1.2%.

Royce & Associates LP trimmed its stake in CVR Energy Inc. (NYSE:CVI - Free Report) by 66.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,567 shares of the oil and gas company's stock after selling 33,372 shares during the period. Royce & Associates LP's holdings in CVR Energy were worth $421,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Illinois Municipal Retirement Fund lifted its stake in shares of CVR Energy by 2.2% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 17,081 shares of the oil and gas company's stock valued at $623,000 after purchasing an additional 363 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of CVR Energy by 2.9% in the 3rd quarter. Victory Capital Management Inc. now owns 21,329 shares of the oil and gas company's stock valued at $778,000 after purchasing an additional 596 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of CVR Energy by 1.5% in the 3rd quarter. Alliancebernstein L.P. now owns 48,943 shares of the oil and gas company's stock valued at $1,785,000 after purchasing an additional 700 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of CVR Energy by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,301 shares of the oil and gas company's stock valued at $394,000 after purchasing an additional 858 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of CVR Energy by 3.1% in the 4th quarter. SG Americas Securities LLC now owns 28,848 shares of the oil and gas company's stock valued at $734,000 after purchasing an additional 873 shares during the last quarter. 98.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CVI shares. Wall Street Zen raised CVR Energy from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Mizuho raised their price objective on CVR Energy from $32.00 to $35.00 and gave the company an "underperform" rating in a research note on Wednesday, May 27th. Scotiabank raised their price objective on CVR Energy from $25.00 to $28.00 and gave the company a "sector underperform" rating in a research note on Wednesday, April 22nd. Raymond James Financial raised CVR Energy from an "underperform" rating to a "market perform" rating in a research note on Wednesday, March 25th. Finally, The Goldman Sachs Group started coverage on CVR Energy in a research note on Friday, April 10th. They issued a "sell" rating and a $30.00 price objective for the company. Two analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, CVR Energy has a consensus rating of "Strong Sell" and an average price target of $32.50.

CVR Energy Trading Down 0.1%

Shares of NYSE CVI opened at $33.19 on Monday. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.89 and a current ratio of 1.44. The business's 50 day moving average price is $32.67 and its 200-day moving average price is $29.25. CVR Energy Inc. has a fifty-two week low of $19.62 and a fifty-two week high of $41.67. The company has a market cap of $3.34 billion, a price-to-earnings ratio of -77.18 and a beta of 0.80.

CVR Energy (NYSE:CVI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.70). The business had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $1.73 billion. CVR Energy had a negative return on equity of 22.36% and a negative net margin of 0.56%.The company's quarterly revenue was up 20.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.58) earnings per share. On average, sell-side analysts expect that CVR Energy Inc. will post 1.04 earnings per share for the current year.

CVR Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 18th. Shareholders of record on Monday, May 11th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.2%. The ex-dividend date was Monday, May 11th. CVR Energy's dividend payout ratio (DPR) is presently -93.02%.

About CVR Energy

CVR Energy, Inc is an independent downstream energy company engaged primarily in petroleum refining and nitrogen fertilizer production in the United States. Headquartered in Sugar Land, Texas, CVR Energy operates through two reportable segments—Petroleum Products and Nitrogen Fertilizers—leveraging its refining expertise and distribution network to serve both wholesale and retail markets across key regions in the U.S.

In its Petroleum Products segment, the company owns and operates the Coffeyville, Kansas refinery, which has the capability to process various grades of crude oil into gasoline, diesel, jet fuel and other refined products.

Want to see what other hedge funds are holding CVI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVR Energy Inc. (NYSE:CVI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.