CVR Energy Inc. $CVI Position Lessened by Ion Asset Management Ltd.

Ion Asset Management Ltd. cut its position in shares of CVR Energy Inc. (NYSE:CVI) by 83.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CVI. Illinois Municipal Retirement Fund increased its holdings in CVR Energy by 2.2% in the third quarter. Illinois Municipal Retirement Fund now owns 17,081 shares of the oil and gas company’s stock worth $623,000 after buying an additional 363 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of CVR Energy by 2.9% during the 3rd quarter. Victory Capital Management Inc. now owns 21,329 shares of the oil and gas company’s stock worth $778,000 after purchasing an additional 596 shares during the last quarter. Congress Asset Management Co. increased its stake in shares of CVR Energy by 0.7% during the 3rd quarter. Congress Asset Management Co. now owns 85,083 shares of the oil and gas company’s stock worth $3,104,000 after purchasing an additional 604 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of CVR Energy by 1.5% during the 3rd quarter. Alliancebernstein L.P. now owns 48,943 shares of the oil and gas company’s stock valued at $1,785,000 after purchasing an additional 700 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of CVR Energy by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,301 shares of the oil and gas company’s stock valued at $394,000 after purchasing an additional 858 shares during the last quarter. Institutional investors own 98.88% of the company’s stock.

CVR Energy Stock Down 0.8%

CVI stock opened at $28.54 on Monday. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 109.76 and a beta of 1.12. The company has a 50-day moving average of $23.92 and a two-hundred day moving average of $30.12. CVR Energy Inc. has a 52-week low of $15.10 and a 52-week high of $41.67. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.79 and a quick ratio of 1.13.

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

CVR Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Monday, March 2nd were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend was Monday, March 2nd.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CVI shares. 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. The Goldman Sachs Group upped their price target on CVR Energy from $22.00 to $25.00 and gave the stock a “sell” rating in a research note on Thursday. Finally, Wall Street Zen lowered CVR Energy from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. One research analyst has rated the stock with a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Strong Sell” and an average target price of $29.25.

Insider Activity at CVR Energy

In other CVR Energy news, major shareholder Carl C. Icahn purchased 275,012 shares of the business’s stock in a transaction dated Tuesday, February 24th. The stock was bought at an average cost of $21.41 per share, for a total transaction of $5,888,006.92. Following the completion of the acquisition, the insider directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased 783,404 shares of company stock worth $16,445,044 in the last three months. 0.01% of the stock is owned by insiders.

CVR Energy 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.