Congress Asset Management Co. Sells 724 Shares of CVR Energy, Inc. (NYSE:CVI)

Congress Asset Management Co. lessened its position in CVR Energy, Inc. (NYSE:CVI) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,389 shares of the oil and gas company’s stock after selling 724 shares during the quarter. Congress Asset Management Co.’s holdings in CVR Energy were worth $1,805,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of CVR Energy by 2.2% in the first quarter. Vanguard Group Inc. now owns 4,020,717 shares of the oil and gas company’s stock valued at $143,379,000 after purchasing an additional 85,773 shares during the last quarter. Dimensional Fund Advisors LP increased its position in CVR Energy by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,072,334 shares of the oil and gas company’s stock worth $55,476,000 after buying an additional 44,636 shares during the period. Bank of New York Mellon Corp increased its position in CVR Energy by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 975,323 shares of the oil and gas company’s stock worth $26,109,000 after buying an additional 3,134 shares during the period. SIR Capital Management L.P. acquired a new position in shares of CVR Energy during the second quarter worth approximately $17,907,000. Finally, American Century Companies Inc. boosted its position in shares of CVR Energy by 60.3% in the second quarter. American Century Companies Inc. now owns 407,819 shares of the oil and gas company’s stock valued at $10,917,000 after acquiring an additional 153,396 shares during the period. Institutional investors and hedge funds own 98.88% of the company’s stock.

Analyst Ratings Changes

CVI has been the topic of a number of research reports. StockNews.com lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Wednesday. Tudor Pickering raised shares of CVR Energy to a “strong sell” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. reduced their target price on shares of CVR Energy from $26.00 to $23.00 and set an “underweight” rating for the company in a research note on Wednesday, October 2nd. Tudor, Pickering, Holt & Co. lowered CVR Energy from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. Finally, Scotiabank reduced their price objective on CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating for the company in a research report on Thursday, October 10th. Five analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $24.75.

CVR Energy Price Performance

Shares of CVR Energy stock opened at $15.98 on Friday. The firm has a market cap of $1.61 billion, a P/E ratio of 23.15 and a beta of 1.48. The firm’s 50-day simple moving average is $23.23 and its 200-day simple moving average is $26.11. CVR Energy, Inc. has a twelve month low of $15.60 and a twelve month high of $38.07. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.93 and a current ratio of 1.33.

CVR Energy (NYSE:CVI) last released its quarterly earnings data on Monday, October 28th. The oil and gas company reported ($0.50) earnings per share 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 company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period in the previous year, the firm posted $1.89 earnings per share. The firm’s revenue for the quarter was down 27.3% compared to the same quarter last year. As a group, research analysts expect that CVR Energy, Inc. will post 0.3 EPS for the current fiscal year.

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.