Covalis Capital LLP Acquires New Position in CVR Energy, Inc. (NYSE:CVI)

Covalis Capital LLP acquired a new position in CVR Energy, Inc. (NYSE:CVI - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 88,209 shares of the oil and gas company's stock, valued at approximately $1,653,000. Covalis Capital LLP owned about 0.09% of CVR Energy as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CVI. Dimensional Fund Advisors LP grew its position in CVR Energy by 12.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,181,295 shares of the oil and gas company's stock worth $40,876,000 after acquiring an additional 238,081 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of CVR Energy by 291.8% in the fourth quarter. NewEdge Advisors LLC now owns 17,747 shares of the oil and gas company's stock worth $333,000 after purchasing an additional 13,217 shares during the last quarter. Guggenheim Capital LLC increased its stake in shares of CVR Energy by 67.5% in the fourth quarter. Guggenheim Capital LLC now owns 47,629 shares of the oil and gas company's stock worth $893,000 after buying an additional 19,186 shares during the period. DRW Securities LLC bought a new stake in CVR Energy during the 4th quarter valued at $413,000. Finally, Renaissance Technologies LLC boosted its position in CVR Energy by 25.4% during the 4th quarter. Renaissance Technologies LLC now owns 544,693 shares of the oil and gas company's stock valued at $10,208,000 after buying an additional 110,460 shares during the period. 98.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on CVI. The Goldman Sachs Group lowered their price objective on shares of CVR Energy from $19.00 to $16.00 and set a "sell" rating for the company in a research note on Thursday, March 27th. StockNews.com upgraded CVR Energy from a "sell" rating to a "hold" rating in a report on Wednesday, February 19th. Mizuho boosted their target price on CVR Energy from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Tuesday, April 1st. Finally, Scotiabank dropped their price target on CVR Energy from $22.00 to $16.00 and set a "sector underperform" rating for the company in a research note on Friday, April 11th. Five research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average target price of $21.20.

Insider Buying and Selling

In other CVR Energy news, major shareholder Carl C. Icahn bought 244,200 shares of the stock in a transaction dated Monday, April 7th. The stock was purchased at an average cost of $16.11 per share, for a total transaction of $3,934,062.00. Following the completion of the acquisition, the insider now owns 69,107,178 shares of the company's stock, valued at approximately $1,113,316,637.58. This trade represents a 0.35 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have acquired 1,463,876 shares of company stock valued at $25,440,929 over the last quarter. Corporate insiders own 0.01% of the company's stock.

CVR Energy Stock Down 3.2 %

Shares of CVI traded down $0.59 on Wednesday, reaching $17.89. The stock had a trading volume of 1,055,539 shares, compared to its average volume of 1,238,899. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.86 and a current ratio of 1.66. CVR Energy, Inc. has a 12-month low of $15.10 and a 12-month high of $34.08. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 298.13 and a beta of 1.26. The company has a 50-day simple moving average of $18.84 and a 200-day simple moving average of $19.45.

CVR Energy (NYSE:CVI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The oil and gas company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.12). The firm had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.85 billion. CVR Energy had a net margin of 0.09% and a negative return on equity of 5.12%. Sell-side analysts predict that CVR Energy, Inc. will post -0.12 EPS for the current 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.