JPMorgan Chase & Co. Sells 27,611 Shares of CVR Energy, Inc. (NYSE:CVI)

JPMorgan Chase & Co. trimmed its position in shares of CVR Energy, Inc. (NYSE:CVI - Free Report) by 9.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 280,073 shares of the oil and gas company's stock after selling 27,611 shares during the period. JPMorgan Chase & Co. owned 0.28% of CVR Energy worth $6,450,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of CVR Energy in the third quarter worth approximately $43,000. Barclays PLC increased its stake in CVR Energy by 214.3% in the 3rd quarter. Barclays PLC now owns 78,030 shares of the oil and gas company's stock valued at $1,797,000 after buying an additional 53,203 shares during the period. Vestcor Inc lifted its position in CVR Energy by 401.4% in the 3rd quarter. Vestcor Inc now owns 24,233 shares of the oil and gas company's stock worth $558,000 after buying an additional 19,400 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of CVR Energy during the 3rd quarter valued at $1,302,000. Finally, State Street Corp grew its holdings in shares of CVR Energy by 18.1% during the 3rd quarter. State Street Corp now owns 2,075,058 shares of the oil and gas company's stock valued at $47,789,000 after acquiring an additional 317,475 shares in the last quarter. 98.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on CVI shares. The Goldman Sachs Group reduced their price objective on CVR Energy from $24.00 to $21.00 and set a "sell" rating for the company in a research report on Friday, December 6th. JPMorgan Chase & Co. reduced their price target on CVR Energy from $26.00 to $23.00 and set an "underweight" rating for the company in a report on Wednesday, October 2nd. StockNews.com downgraded CVR Energy from a "hold" rating to a "sell" rating in a report on Saturday, December 14th. Mizuho boosted their target price on shares of CVR Energy from $18.00 to $20.00 and gave the stock a "neutral" rating in a research report on Monday, December 16th. Finally, Scotiabank dropped their price target on shares of CVR Energy from $25.00 to $21.00 and set a "sector underperform" rating on the stock in a research note on Thursday, October 10th. Six equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $23.00.

CVR Energy Stock Performance

Shares of CVR Energy stock traded up $0.36 on Thursday, reaching $21.61. The stock had a trading volume of 813,306 shares, compared to its average volume of 994,471. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.86 and a current ratio of 1.33. The business's 50-day moving average price is $18.81 and its two-hundred day moving average price is $22.21. The stock has a market cap of $2.17 billion, a P/E ratio of 31.32 and a beta of 1.58. CVR Energy, Inc. has a fifty-two week low of $15.60 and a fifty-two week high of $38.07.

CVR Energy (NYSE:CVI - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The oil and gas company reported ($0.50) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.41). The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.91 billion. CVR Energy had a return on equity of 2.88% and a net margin of 0.89%. The company's revenue for the quarter was down 27.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.89 earnings per share. On average, sell-side analysts forecast that CVR Energy, Inc. will post -0.79 EPS for the current year.

Insider Activity

In other CVR Energy news, major shareholder Carl C. Icahn acquired 878,212 shares of CVR Energy stock in a transaction dated Wednesday, January 8th. The stock was bought at an average cost of $18.25 per share, with a total value of $16,027,369.00. Following the acquisition, the insider now 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.01% of the stock is currently owned by company insiders.

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.