Victory Capital Management Inc. Decreases Stock Holdings in CVR Energy Inc. (NYSE:CVI)

Victory Capital Management Inc. lowered its position in shares of CVR Energy Inc. (NYSE:CVI - Free Report) by 55.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 72,891 shares of the oil and gas company's stock after selling 89,916 shares during the period. Victory Capital Management Inc. owned about 0.07% of CVR Energy worth $1,414,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Scotiabank raised their price target on CVR Energy from $21.00 to $25.00 and gave the stock a "sector underperform" rating in a report on Friday, July 11th. Raymond James Financial cut CVR Energy from a "market perform" rating to an "underperform" rating in a research report on Tuesday, July 15th. Wall Street Zen downgraded CVR Energy from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Finally, Mizuho upped 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 equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $23.80.

CVR Energy Stock Performance

NYSE CVI traded down $1.71 during trading hours on Friday, hitting $25.07. 1,741,863 shares of the stock were exchanged, compared to its average volume of 998,199. The company has a quick ratio of 0.85, a current ratio of 1.32 and a debt-to-equity ratio of 2.47. The company has a market cap of $2.52 billion, a price-to-earnings ratio of -7.55 and a beta of 1.20. CVR Energy Inc. has a 12-month low of $15.10 and a 12-month high of $32.67. The stock has a 50-day moving average of $27.18 and a 200 day moving average of $22.25.

CVR Energy (NYSE:CVI - Get Free Report) last issued its earnings results on Wednesday, July 30th. The oil and gas company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.15). The business had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.73 billion. CVR Energy had a negative return on equity of 17.18% and a negative net margin of 4.63%. The business's quarterly revenue was down 10.5% on a year-over-year basis. During the same period last year, the company posted $0.09 earnings per share. As a group, equities research analysts forecast that CVR Energy Inc. will post -0.12 earnings per share for the current year.

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.