Wealth Enhancement Advisory Services LLC Makes New $248,000 Investment in CVR Energy Inc. $CVI

Key Points

• Wealth Enhancement Advisory Services LLC has made a new investment of approximately $248,000 in CVR Energy Inc., acquiring 9,243 shares during the second quarter.
• Several institutional investors have significantly increased their stakes in CVR Energy, with GAMMA Investing LLC boosting its position by 3,908.1% to own 41,885 shares.
• Wall Street analysts have a generally negative outlook on CVR Energy, with the stock being rated a "Strong Sell"** by most and an average price target of $27.00.

Wealth Enhancement Advisory Services LLC acquired a new position in shares of CVR Energy Inc. (NYSE:CVI - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,243 shares of the oil and gas company's stock, valued at approximately $248,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CVI. GAMMA Investing LLC lifted its stake in shares of CVR Energy by 3,908.1% during the first quarter. GAMMA Investing LLC now owns 41,885 shares of the oil and gas company's stock worth $813,000 after purchasing an additional 40,840 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of CVR Energy by 65.5% in the first quarter. Harbor Capital Advisors Inc. now owns 1,633 shares of the oil and gas company's stock worth $32,000 after acquiring an additional 646 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of CVR Energy by 2.5% in the first quarter. SummerHaven Investment Management LLC now owns 31,707 shares of the oil and gas company's stock worth $615,000 after acquiring an additional 759 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of CVR Energy by 2.3% in the first quarter. Principal Financial Group Inc. now owns 170,584 shares of the oil and gas company's stock worth $3,309,000 after acquiring an additional 3,910 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its stake in shares of CVR Energy by 3.8% in the first quarter. D.A. Davidson & CO. now owns 40,790 shares of the oil and gas company's stock worth $791,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 98.88% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Raymond James Financial cut CVR Energy from a "market perform" rating to an "underperform" rating in a research note on Tuesday, July 15th. UBS Group set a $37.00 price target on CVR Energy in a research note on Sunday, September 28th. Zacks Research upgraded CVR Energy from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 16th. Weiss Ratings reiterated a "sell (d+)" rating on shares of CVR Energy in a research note on Wednesday. Finally, Scotiabank reiterated an "underperform" rating on shares of CVR Energy in a research note on Thursday. One investment analyst has rated the stock with a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, CVR Energy has an average rating of "Strong Sell" and a consensus target price of $27.00.

CVR Energy Trading Down 2.3%

Shares of NYSE CVI opened at $35.90 on Friday. The stock has a market capitalization of $3.61 billion, a P/E ratio of -10.81 and a beta of 1.25. The stock's 50 day moving average price is $31.17 and its two-hundred day moving average price is $26.20. CVR Energy Inc. has a 52-week low of $15.10 and a 52-week high of $38.30. The company has a quick ratio of 0.75, a current ratio of 1.17 and a debt-to-equity ratio of 2.78.

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

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