CVR Energy Inc. $CVI Stock Holdings Lowered by Ion Asset Management Ltd.

Ion Asset Management Ltd. cut its holdings in shares of CVR Energy Inc. (NYSE:CVI) by 83.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,385 shares of the oil and gas company’s stock after selling 173,915 shares during the period. Ion Asset Management Ltd.’s holdings in CVR Energy were worth $1,218,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of CVR Energy in the second quarter valued at $53,000. BNP Paribas Financial Markets grew its holdings in shares of CVR Energy by 48.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,633 shares of the oil and gas company’s stock worth $98,000 after acquiring an additional 1,178 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of CVR Energy during the second quarter worth $114,000. Tower Research Capital LLC TRC lifted its holdings in shares of CVR Energy by 432.3% during the second quarter. Tower Research Capital LLC TRC now owns 6,846 shares of the oil and gas company’s stock valued at $184,000 after purchasing an additional 5,560 shares during the last quarter. Finally, ProShare Advisors LLC acquired a new position in shares of CVR Energy in the 3rd quarter valued at $212,000. 98.88% of the stock is currently owned by institutional investors.

CVR Energy Stock Down 0.8%

Shares of CVR Energy stock opened at $28.54 on Monday. The stock has a 50-day moving average price of $23.92 and a 200 day moving average price of $30.12. The company has a market cap of $2.87 billion, a P/E ratio of 109.76 and a beta of 1.12. The company has a current ratio of 1.79, a quick ratio of 1.13 and a debt-to-equity ratio of 1.95. CVR Energy Inc. has a 1 year low of $15.10 and a 1 year high of $41.67.

CVR Energy (NYSE:CVI) last released its earnings results on Wednesday, February 18th. The oil and gas company reported ($0.80) earnings per share for the quarter, beating the consensus estimate of ($0.84) by $0.04. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.70 billion. CVR Energy had a negative return on equity of 14.31% and a net margin of 0.38%.The business’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.13) EPS. As a group, analysts expect that CVR Energy Inc. will post -0.12 EPS for the current fiscal year.

CVR Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Monday, March 2nd were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 5.2%. The ex-dividend date was Monday, March 2nd.

Insider Buying and Selling

In related news, major shareholder Carl C. Icahn acquired 275,012 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were purchased at an average price of $21.41 per share, for a total transaction of $5,888,006.92. Following the purchase, the insider owned 71,201,875 shares in the company, valued at $1,524,432,143.75. This represents a 0.39% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased 783,404 shares of company stock worth $16,445,044 over the last quarter. Insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on CVI shares. Wall Street Zen lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. The Goldman Sachs Group boosted their price target on shares of CVR Energy from $22.00 to $25.00 and gave the company a “sell” rating in a report on Thursday. Finally, Weiss Ratings downgraded shares of CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research report on Friday, February 20th. One analyst has rated the stock with a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Strong Sell” and a consensus target price of $29.25.

CVR Energy Company Profile

CVR Energy, Inc is an independent downstream energy company engaged primarily in petroleum refining and nitrogen fertilizer production in the United States. Headquartered in Sugar Land, Texas, CVR Energy operates through two reportable segments—Petroleum Products and Nitrogen Fertilizers—leveraging its refining expertise and distribution network to serve both wholesale and retail markets across key regions in the U.S.

In its Petroleum Products segment, the company owns and operates the Coffeyville, Kansas refinery, which has the capability to process various grades of crude oil into gasoline, diesel, jet fuel and other refined products.