Wells Fargo & Company MN Buys 144,311 Shares of CVR Energy, Inc. (NYSE:CVI)

Wells Fargo & Company MN raised its stake in shares of CVR Energy, Inc. (NYSE:CVI - Free Report) by 625.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 167,401 shares of the oil and gas company's stock after buying an additional 144,311 shares during the quarter. Wells Fargo & Company MN owned about 0.17% of CVR Energy worth $3,137,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. ExodusPoint Capital Management LP grew its position in shares of CVR Energy by 744.9% in the 4th quarter. ExodusPoint Capital Management LP now owns 293,129 shares of the oil and gas company's stock valued at $5,493,000 after purchasing an additional 258,436 shares during the period. Vanguard Group Inc. raised its stake in shares of CVR Energy by 3.9% during the 4th quarter. Vanguard Group Inc. now owns 4,135,315 shares of the oil and gas company's stock worth $77,496,000 after purchasing an additional 154,125 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of CVR Energy by 22.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 783,079 shares of the oil and gas company's stock worth $14,675,000 after purchasing an additional 143,941 shares in the last quarter. Norges Bank bought a new stake in shares of CVR Energy during the 4th quarter worth approximately $2,311,000. Finally, American Century Companies Inc. boosted its position in 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 purchasing an additional 81,647 shares during the period. 98.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Carl C. Icahn acquired 244,200 shares of CVR Energy stock in a transaction dated Monday, April 7th. The shares were bought at an average cost of $16.11 per share, with a total value of $3,934,062.00. Following the purchase, 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 purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders have bought 1,633,853 shares of company stock valued at $28,497,570. 0.01% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

CVR Energy Price Performance

CVI stock traded up $0.74 during trading on Tuesday, reaching $19.45. 1,908,387 shares of the company were exchanged, compared to its average volume of 1,247,907. The company has a 50-day moving average of $18.78 and a two-hundred day moving average of $19.25. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 324.22 and a beta of 1.26. CVR Energy, Inc. has a twelve month low of $15.10 and a twelve month high of $33.51. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.66 and a quick ratio of 0.86.

CVR Energy (NYSE:CVI - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The oil and gas company reported ($0.58) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.32. CVR Energy had a net margin of 0.09% and a negative return on equity of 5.12%. The firm had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.61 billion. During the same period in the prior year, the company posted $0.04 EPS. The company's revenue was down 11.6% on a year-over-year basis. As a group, equities analysts predict that CVR Energy, Inc. will post -0.12 earnings per share for the current fiscal 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.