Norges Bank Invests $2.31 Million in CVR Energy, Inc. (NYSE:CVI)

Norges Bank bought a new stake in shares of CVR Energy, Inc. (NYSE:CVI - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 123,294 shares of the oil and gas company's stock, valued at approximately $2,311,000. Norges Bank owned 0.12% of CVR Energy at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVI. Barclays PLC boosted its holdings in CVR Energy by 214.3% during the third quarter. Barclays PLC now owns 78,030 shares of the oil and gas company's stock worth $1,797,000 after buying an additional 53,203 shares in the last quarter. State Street Corp raised its holdings in CVR Energy by 18.1% during the 3rd quarter. State Street Corp now owns 2,075,058 shares of the oil and gas company's stock worth $47,789,000 after buying an additional 317,475 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in CVR Energy by 22.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 783,079 shares of the oil and gas company's stock valued at $14,675,000 after buying an additional 143,941 shares in the last quarter. D.A. Davidson & CO. acquired a new position in shares of CVR Energy in the fourth quarter worth about $736,000. Finally, Groesbeck Investment Management Corp NJ purchased a new position in shares of CVR Energy in the fourth quarter worth approximately $637,000. 98.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Carl C. Icahn acquired 244,200 shares of the company's stock in a transaction dated Monday, April 7th. The shares were bought at an average price of $16.11 per share, for a total transaction of $3,934,062.00. Following the acquisition, the insider now owns 69,107,178 shares in the company, valued at $1,113,316,637.58. This trade represents a 0.35 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have purchased 1,393,545 shares of company stock valued at $24,172,861. 0.01% of the stock is owned by company insiders.

CVR Energy Stock Performance

CVI stock traded up $0.49 during mid-day trading on Thursday, reaching $18.45. 153,892 shares of the stock traded hands, compared to its average volume of 1,231,840. The firm has a market capitalization of $1.85 billion, a PE ratio of 307.05 and a beta of 1.26. The business has a 50-day moving average of $18.88 and a two-hundred day moving average of $19.64. CVR Energy, Inc. has a 52 week low of $15.10 and a 52 week high of $34.18. The company has a quick ratio of 0.86, a current ratio of 1.66 and a debt-to-equity ratio of 2.15.

CVR Energy (NYSE:CVI - Get Free Report) last announced its earnings results on Tuesday, February 18th. The oil and gas company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.12). The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.85 billion. CVR Energy had a net margin of 0.09% and a negative return on equity of 5.12%. As a group, equities analysts predict that CVR Energy, Inc. will post -0.12 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on CVI. Mizuho raised their price objective on shares of CVR Energy from $20.00 to $21.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 1st. Scotiabank reduced their price target on shares of CVR Energy from $22.00 to $16.00 and set a "sector underperform" rating for the company in a research report on Friday, April 11th. The Goldman Sachs Group dropped their price objective on shares of CVR Energy from $19.00 to $16.00 and set a "sell" rating on the stock in a research note on Thursday, March 27th. Finally, StockNews.com raised CVR Energy from a "sell" rating to a "hold" rating in a research note on Wednesday, February 19th. Five investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $21.20.

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.