Atria Investments LLC reduced its holdings in shares of CVR Energy, Inc. (NYSE:CVI) by 48.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,720 shares of the oil and gas company’s stock after selling 2,531 shares during the period. Atria Investments LLC’s holdings in CVR Energy were worth $400,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of CVI. Panagora Asset Management Inc. grew its stake in shares of CVR Energy by 3,026.0% in the second quarter. Panagora Asset Management Inc. now owns 20,350 shares of the oil and gas company’s stock worth $1,017,000 after acquiring an additional 19,699 shares during the period. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of CVR Energy in the second quarter worth approximately $50,000. Prudential Financial Inc. grew its stake in shares of CVR Energy by 14.5% in the second quarter. Prudential Financial Inc. now owns 105,990 shares of the oil and gas company’s stock worth $5,299,000 after acquiring an additional 13,402 shares during the period. Smith Asset Management Group LP grew its stake in shares of CVR Energy by 23.6% in the second quarter. Smith Asset Management Group LP now owns 10,380 shares of the oil and gas company’s stock worth $519,000 after acquiring an additional 1,980 shares during the period. Finally, Delta Investment Management LLC bought a new stake in shares of CVR Energy in the second quarter worth approximately $276,000. 93.92% of the stock is owned by institutional investors.
NYSE:CVI traded up $0.41 during trading hours on Friday, hitting $41.43. 136,612 shares of the stock traded hands, compared to its average volume of 610,446. The company has a quick ratio of 1.59, a current ratio of 2.40 and a debt-to-equity ratio of 0.70. CVR Energy, Inc. has a 1 year low of $30.46 and a 1 year high of $55.52. The company has a market cap of $4.27 billion, a price-to-earnings ratio of 10.81 and a beta of 1.40. The stock has a 50 day moving average price of $44.82 and a 200 day moving average price of $44.99.
CVR Energy (NYSE:CVI) last issued its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.02. CVR Energy had a net margin of 5.68% and a return on equity of 21.99%. The business had revenue of $1.69 billion for the quarter.
CVI has been the subject of a number of research analyst reports. Tudor Pickering upgraded shares of CVR Energy from a “sell” rating to a “hold” rating in a research note on Friday, August 30th. Scotiabank started coverage on shares of CVR Energy in a research report on Thursday, August 15th. They set an “underperform” rating for the company. Goldman Sachs Group lowered shares of CVR Energy from a “neutral” rating to a “sell” rating and set a $48.00 target price for the company. in a research report on Monday, July 29th. Finally, Citigroup lowered shares of CVR Energy from a “buy” rating to a “neutral” rating and set a $48.00 target price for the company. in a research report on Friday, June 21st. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company. CVR Energy has a consensus rating of “Hold” and an average price target of $44.20.
About CVR Energy
CVR Energy, Inc, through its subsidiaries, engages in petroleum refining and nitrogen fertilizer manufacturing activities in the United States. The company operates in Petroleum and Nitrogen Fertilizer segments. The Petroleum segment refines and markets transportation fuels, such as gasoline, diesel fuel, and other refined products.
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