Bank of New York Mellon Corp Cuts Position in CVR Energy, Inc. (NYSE:CVI)

Bank of New York Mellon Corp decreased its position in shares of CVR Energy, Inc. (NYSE:CVI - Free Report) by 76.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 230,277 shares of the oil and gas company's stock after selling 740,948 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.23% of CVR Energy worth $4,315,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CVI. New York State Teachers Retirement System raised its holdings in CVR Energy by 11.3% in the 4th quarter. New York State Teachers Retirement System now owns 13,812 shares of the oil and gas company's stock valued at $259,000 after buying an additional 1,400 shares during the period. Rhumbline Advisers raised its holdings in CVR Energy by 1.3% in the 4th quarter. Rhumbline Advisers now owns 115,064 shares of the oil and gas company's stock valued at $2,156,000 after buying an additional 1,479 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in CVR Energy in the 3rd quarter valued at about $43,000. R Squared Ltd purchased a new stake in CVR Energy in the 4th quarter valued at about $36,000. Finally, FMR LLC raised its holdings in CVR Energy by 103.4% in the 3rd quarter. FMR LLC now owns 4,031 shares of the oil and gas company's stock valued at $93,000 after buying an additional 2,049 shares during the period. Institutional investors and hedge funds own 98.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CVI shares. Mizuho boosted their price target on shares of CVR Energy from $18.00 to $20.00 and gave the stock a "neutral" rating in a research note on Monday, December 16th. The Goldman Sachs Group cut their price target on shares of CVR Energy from $24.00 to $21.00 and set a "sell" rating on the stock in a research note on Friday, December 6th. Finally, StockNews.com upgraded shares of CVR Energy from a "sell" rating to a "hold" rating in a research note on Wednesday, February 19th. Five research analysts have rated the stock with a sell rating and three have given a hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $23.00.

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CVR Energy Stock Performance

Shares of CVI stock traded down $0.61 during trading hours on Friday, hitting $21.21. The stock had a trading volume of 1,596,764 shares, compared to its average volume of 1,185,818. The firm has a market capitalization of $2.13 billion, a PE ratio of 353.48 and a beta of 1.55. CVR Energy, Inc. has a twelve month low of $15.60 and a twelve month high of $38.07. The stock's 50 day moving average is $19.61 and its 200 day moving average is $20.32. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.66 and a quick ratio of 0.86.

CVR Energy (NYSE:CVI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The oil and gas company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.12). The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.85 billion. CVR Energy had a net margin of 0.09% and a negative return on equity of 5.12%. As a group, research analysts forecast that CVR Energy, Inc. will post -0.12 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Carl C. Icahn purchased 878,212 shares of the business's stock in a transaction dated Wednesday, January 8th. The stock was acquired at an average price of $18.25 per share, for a total transaction of $16,027,369.00. Following the completion of the purchase, the insider now directly owns 67,570,593 shares of the company's stock, valued at $1,233,163,322.25. This trade represents a 1.32 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders bought 1,492,540 shares of company stock valued at $27,049,928. 0.01% of the stock is currently owned by company insiders.

CVR Energy 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.