Kennondale Capital Management LLC Makes New Investment in CVR Energy, Inc. (NYSE:CVI)

Kennondale Capital Management LLC bought a new position in CVR Energy, Inc. (NYSE:CVI) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 32,887 shares of the oil and gas company’s stock, valued at approximately $616,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp lifted its stake in CVR Energy by 18.1% in 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 purchasing an additional 317,475 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in CVR Energy by 22.5% in 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. Advisors Asset Management Inc. lifted its stake in CVR Energy by 37.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 352,075 shares of the oil and gas company’s stock worth $8,108,000 after purchasing an additional 95,371 shares in the last quarter. Victory Capital Management Inc. lifted its stake in CVR Energy by 7.4% in the 3rd quarter. Victory Capital Management Inc. now owns 347,969 shares of the oil and gas company’s stock worth $8,014,000 after purchasing an additional 23,952 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC bought a new position in shares of CVR Energy in the 3rd quarter worth $5,335,000. 98.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CVI has been the topic of a number of research analyst reports. Mizuho increased their price target on shares of CVR Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. The Goldman Sachs Group decreased their price target on shares of CVR Energy from $24.00 to $21.00 and set a “sell” rating on the stock in a report on Friday, December 6th. Finally, StockNews.com raised shares of CVR Energy from a “sell” rating to a “hold” rating in a report on Wednesday, February 19th. Five equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat, CVR Energy currently has an average rating of “Reduce” and an average target price of $23.00.

CVR Energy Price Performance

CVI stock opened at $20.68 on Tuesday. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.86 and a current ratio of 1.66. CVR Energy, Inc. has a 52 week low of $15.60 and a 52 week high of $38.07. The firm’s fifty day moving average is $19.38 and its 200 day moving average is $20.36. The firm has a market cap of $2.08 billion, a P/E ratio of 344.66 and a beta of 1.55.

CVR Energy (NYSE:CVI) last released its earnings results on Tuesday, February 18th. The oil and gas company reported ($0.13) EPS 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%. Research analysts predict that CVR Energy, Inc. will post -0.12 earnings per share for the current year.

Insider Buying and Selling at CVR Energy

In other news, major shareholder Carl C. Icahn purchased 3,610 shares of the company’s stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $18.24 per share, with a total value of $65,846.40. Following the transaction, the insider now directly owns 67,574,203 shares of the company’s stock, valued at approximately $1,232,553,462.72. This represents a 0.01 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought 1,492,540 shares of company stock valued at $27,049,928 in the last quarter. Company insiders own 0.01% of the company’s stock.

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.