Groesbeck Investment Management Corp NJ Acquires New Position in CVR Energy, Inc. (NYSE:CVI)

Groesbeck Investment Management Corp NJ purchased a new position in CVR Energy, Inc. (NYSE:CVI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 34,000 shares of the oil and gas company's stock, valued at approximately $637,000.

A number of other hedge funds also recently bought and sold shares of CVI. Wilmington Savings Fund Society FSB purchased a new stake in CVR Energy during the 3rd quarter valued at $43,000. R Squared Ltd purchased a new position in CVR Energy in the 4th quarter worth about $36,000. Future Financial Wealth Managment LLC bought a new position in CVR Energy during the 3rd quarter valued at about $46,000. Larson Financial Group LLC grew its stake in shares of CVR Energy by 640.9% in the third quarter. Larson Financial Group LLC now owns 3,119 shares of the oil and gas company's stock worth $72,000 after acquiring an additional 2,698 shares during the period. Finally, FMR LLC raised its holdings in shares of CVR Energy by 103.4% during the third quarter. FMR LLC now owns 4,031 shares of the oil and gas company's stock valued at $93,000 after purchasing an additional 2,049 shares during the last quarter. Institutional investors own 98.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CVI shares. The Goldman Sachs Group cut their target price on shares of CVR Energy from $24.00 to $21.00 and set a "sell" rating for the company in a research report on Friday, December 6th. StockNews.com raised CVR Energy from a "sell" rating to a "hold" rating in a report on Thursday. Finally, Mizuho boosted their target price on shares of CVR Energy from $18.00 to $20.00 and gave the company a "neutral" rating in a research report on Monday, December 16th. Five investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $23.00.

Insiders Place Their Bets

In other news, major shareholder Carl C. Icahn acquired 878,212 shares of the firm's stock in a transaction dated Wednesday, January 8th. The shares were acquired at an average cost of $18.25 per share, with a total value of $16,027,369.00. Following the acquisition, the insider now directly owns 67,570,593 shares of the company's stock, valued at approximately $1,233,163,322.25. The trade was a 1.32 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.01% of the stock is currently owned by corporate insiders.

CVR Energy Price Performance

NYSE:CVI traded down $0.07 on Friday, reaching $18.32. 653,723 shares of the company's stock traded hands, compared to its average volume of 784,030. The firm has a market cap of $1.84 billion, a PE ratio of 26.55 and a beta of 1.57. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 1.84. The stock has a 50-day simple moving average of $19.20 and a 200-day simple moving average of $21.61. CVR Energy, Inc. has a 12 month low of $15.60 and a 12 month high of $38.07.

CVR Energy Company Profile

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.