Verition Fund Management LLC Buys Shares of 23,665 CVR Energy, Inc. (NYSE:CVI)

Verition Fund Management LLC acquired a new position in shares of CVR Energy, Inc. (NYSE:CVI) in the 3rd quarter, HoldingsChannel reports. The fund acquired 23,665 shares of the oil and gas company’s stock, valued at approximately $545,000.

A number of other hedge funds also recently bought and sold shares of CVI. Charles Schwab Investment Management Inc. increased its holdings in CVR Energy by 14.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 639,138 shares of the oil and gas company’s stock valued at $14,719,000 after buying an additional 81,590 shares during the period. Royce & Associates LP increased its position in CVR Energy by 58.1% in the 3rd quarter. Royce & Associates LP now owns 101,043 shares of the oil and gas company’s stock valued at $2,327,000 after acquiring an additional 37,130 shares in the last quarter. Neo Ivy Capital Management bought a new position in CVR Energy in the 2nd quarter worth approximately $2,484,000. Advisors Asset Management Inc. lifted its stake in shares of CVR Energy by 37.2% during the third quarter. Advisors Asset Management Inc. now owns 352,075 shares of the oil and gas company’s stock valued at $8,108,000 after acquiring an additional 95,371 shares during the period. Finally, Millennium Management LLC acquired a new stake in shares of CVR Energy during the 2nd quarter worth approximately $2,889,000. 98.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CVI shares. Scotiabank dropped their price objective on CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating for the company in a report on Thursday, October 10th. StockNews.com upgraded shares of CVR Energy from a “sell” rating to a “hold” rating in a research note on Friday, December 6th. The Goldman Sachs Group lowered their price objective on CVR Energy from $24.00 to $21.00 and set a “sell” rating on the stock in a research note on Friday, December 6th. JPMorgan Chase & Co. lowered their price objective on CVR Energy from $26.00 to $23.00 and set an “underweight” rating for the company in a research note on Wednesday, October 2nd. Finally, Tudor, Pickering, Holt & Co. downgraded CVR Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Five equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat.com, CVR Energy currently has an average rating of “Reduce” and a consensus target price of $24.00.

CVR Energy Price Performance

CVR Energy stock opened at $19.88 on Thursday. The business has a fifty day moving average price of $20.53 and a 200-day moving average price of $23.70. CVR Energy, Inc. has a one year low of $15.60 and a one year high of $38.07. The firm has a market capitalization of $2.00 billion, a P/E ratio of 28.81 and a beta of 1.57. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.33 and a quick ratio of 0.86.

CVR Energy (NYSE:CVI) last released its earnings results on Monday, October 28th. The oil and gas company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.41). CVR Energy had a net margin of 0.89% and a return on equity of 2.88%. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the company earned $1.89 EPS. The firm’s revenue was down 27.3% compared to the same quarter last year. As a group, equities research analysts forecast that CVR Energy, Inc. will post -0.12 EPS for the current 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.