Kennondale Capital Management LLC Takes $616,000 Position in CVR Energy, Inc. (NYSE:CVI)

Kennondale Capital Management LLC bought a new stake in CVR Energy, Inc. (NYSE:CVI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 32,887 shares of the oil and gas company's stock, valued at approximately $616,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in CVR Energy in the 3rd quarter valued at about $43,000. R Squared Ltd acquired a new position in CVR Energy in the 4th quarter valued at about $36,000. PNC Financial Services Group Inc. raised its stake in CVR Energy by 55.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,052 shares of the oil and gas company's stock valued at $38,000 after purchasing an additional 731 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of CVR Energy by 640.9% during the 3rd quarter. Larson Financial Group LLC now owns 3,119 shares of the oil and gas company's stock valued at $72,000 after acquiring an additional 2,698 shares during the last quarter. Finally, FMR LLC increased its stake in shares of CVR Energy by 103.4% during the 3rd quarter. FMR LLC now owns 4,031 shares of the oil and gas company's stock valued at $93,000 after acquiring an additional 2,049 shares during the last quarter. Institutional investors and hedge funds own 98.88% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on CVI. Mizuho upped their price objective on shares of CVR Energy from $18.00 to $20.00 and gave the company a "neutral" rating in a research note on Monday, December 16th. The Goldman Sachs Group dropped their price objective on shares of CVR Energy from $24.00 to $21.00 and set a "sell" rating for the company in a research note on Friday, December 6th. Finally, StockNews.com raised shares of CVR Energy from a "sell" rating to a "hold" rating in a research note on Wednesday, February 19th. Five equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus price target of $23.00.

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Insiders Place Their Bets

In related news, major shareholder Carl C. Icahn purchased 138,853 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was purchased at an average price of $18.01 per share, for a total transaction of $2,500,742.53. Following the acquisition, the insider now directly owns 68,446,293 shares in the company, valued at $1,232,717,736.93. The trade was a 0.20 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased a total of 1,492,540 shares of company stock worth $27,049,928 in the last 90 days. 0.01% of the stock is owned by company insiders.

CVR Energy Trading Down 2.8 %

CVI traded down $0.61 on Friday, reaching $21.21. 1,596,764 shares of the company's stock were exchanged, compared to its average volume of 1,185,818. The company's 50 day moving average is $19.61 and its 200-day moving average is $20.32. The company has a market cap of $2.13 billion, a price-to-earnings 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 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 (NYSE:CVI - Get Free Report) last posted its earnings results on Tuesday, February 18th. The oil and gas company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.12). The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.85 billion. CVR Energy had a negative return on equity of 5.12% and a net margin of 0.09%. Equities analysts predict that CVR Energy, Inc. will post -0.12 earnings per share for the current year.

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.