CVR Energy, Inc. (NYSE:CVI) Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. cut its stake in shares of CVR Energy, Inc. (NYSE:CVI) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,389 shares of the oil and gas company’s stock after selling 724 shares during the quarter. Congress Asset Management Co. owned 0.08% of CVR Energy worth $1,805,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Headlands Technologies LLC boosted its position in shares of CVR Energy by 820.5% in the 2nd quarter. Headlands Technologies LLC now owns 1,482 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 1,321 shares during the period. Future Financial Wealth Managment LLC acquired a new position in shares of CVR Energy in the third quarter worth about $46,000. Covestor Ltd increased its position in shares of CVR Energy by 45,560.0% in the first quarter. Covestor Ltd now owns 2,283 shares of the oil and gas company’s stock worth $81,000 after acquiring an additional 2,278 shares in the last quarter. Quest Partners LLC raised its holdings in shares of CVR Energy by 47.3% during the second quarter. Quest Partners LLC now owns 3,485 shares of the oil and gas company’s stock valued at $93,000 after acquiring an additional 1,119 shares during the period. Finally, ProShare Advisors LLC purchased a new stake in shares of CVR Energy in the 1st quarter valued at approximately $213,000. 98.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on CVI. Tudor Pickering upgraded shares of CVR Energy to a “strong sell” rating in a research report on Monday, September 9th. Tudor, Pickering, Holt & Co. downgraded CVR Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. UBS Group reduced their price objective on CVR Energy from $33.75 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. StockNews.com cut CVR Energy from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Mizuho dropped their target price on CVR Energy from $27.00 to $25.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Five research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat, CVR Energy has an average rating of “Reduce” and a consensus target price of $24.75.

CVR Energy Stock Performance

Shares of NYSE CVI opened at $15.98 on Friday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.33 and a quick ratio of 0.93. CVR Energy, Inc. has a one year low of $15.60 and a one year high of $38.07. The business’s 50-day moving average price is $23.23 and its two-hundred day moving average price is $26.11. The company has a market capitalization of $1.61 billion, a P/E ratio of 23.15 and a beta of 1.48.

CVR Energy (NYSE:CVI) last announced its quarterly earnings results on Monday, October 28th. The oil and gas company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.41). The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.91 billion. CVR Energy had a net margin of 0.89% and a return on equity of 2.88%. The company’s quarterly revenue was down 27.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.89 EPS. Analysts anticipate that CVR Energy, Inc. will post 0.3 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.