Empowered Funds LLC Has $275,000 Stake in CVR Energy, Inc. (NYSE:CVI)

Empowered Funds LLC reduced its holdings in CVR Energy, Inc. (NYSE:CVI) by 95.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 11,929 shares of the oil and gas company’s stock after selling 255,934 shares during the quarter. Empowered Funds LLC’s holdings in CVR Energy were worth $275,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Headlands Technologies LLC grew its holdings 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 acquiring an additional 1,321 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in CVR Energy during the third quarter valued at approximately $46,000. Quest Partners LLC grew its stake in CVR Energy by 47.3% in the second quarter. Quest Partners LLC now owns 3,485 shares of the oil and gas company’s stock valued at $93,000 after purchasing an additional 1,119 shares in the last quarter. ProShare Advisors LLC acquired a new position in shares of CVR Energy during the 1st quarter worth approximately $213,000. Finally, Covestor Ltd raised its stake in shares of CVR Energy by 97.2% during the 3rd quarter. Covestor Ltd now owns 7,376 shares of the oil and gas company’s stock worth $170,000 after purchasing an additional 3,635 shares in the last quarter. 98.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Tudor, Pickering, Holt & Co. cut shares of CVR Energy from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. Mizuho decreased their price objective on shares of CVR Energy from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. JPMorgan Chase & Co. dropped their target price on shares of CVR Energy from $26.00 to $23.00 and set an “underweight” rating on the stock in a report on Wednesday, October 2nd. UBS Group reduced their price target on CVR Energy from $33.75 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Finally, Scotiabank lowered their price target on CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating on the stock in a research report on Thursday, October 10th. Five research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, CVR Energy presently has a consensus rating of “Reduce” and a consensus price target of $24.75.

CVR Energy Stock Performance

NYSE CVI opened at $19.29 on Tuesday. The stock has a market cap of $1.94 billion, a PE ratio of 27.96 and a beta of 1.52. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.86 and a current ratio of 1.33. The firm has a 50-day moving average of $21.55 and a 200-day moving average of $24.52. CVR Energy, Inc. has a 52-week low of $15.60 and a 52-week high of $38.07.

CVR Energy (NYSE:CVI) last issued its quarterly earnings data on Monday, October 28th. The oil and gas company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.41). CVR Energy had a return on equity of 2.88% and a net margin of 0.89%. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the business earned $1.89 earnings per share. The company’s revenue was down 27.3% on a year-over-year basis. On average, sell-side analysts anticipate that CVR Energy, Inc. will post -0.12 EPS for the current year.

About CVR Energy

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.