Norges Bank Takes Position in CVR Energy, Inc. (NYSE:CVI)

Norges Bank bought a new stake in CVR Energy, Inc. (NYSE:CVI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 123,294 shares of the oil and gas company's stock, valued at approximately $2,311,000. Norges Bank owned 0.12% of CVR Energy as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. R Squared Ltd acquired a new position in CVR Energy in the fourth quarter valued at approximately $36,000. PNC Financial Services Group Inc. increased its stake in CVR Energy by 55.3% in the fourth 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 in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of CVR Energy during the third quarter valued at about $43,000. FMR LLC grew its stake in shares of 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. Finally, New York State Teachers Retirement System increased its position 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 in the last quarter. 98.88% of the stock is owned by institutional investors.

Insider Activity

In other CVR Energy news, major shareholder Carl C. Icahn purchased 244,200 shares of CVR Energy stock in a transaction on Monday, April 7th. The shares were acquired at an average cost of $16.11 per share, for a total transaction of $3,934,062.00. Following the completion of the transaction, the insider now directly owns 69,107,178 shares of the company's stock, valued at approximately $1,113,316,637.58. The trade was a 0.35 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In the last quarter, insiders have purchased 1,393,545 shares of company stock worth $24,172,861. 0.01% of the stock is currently owned by corporate insiders.

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Wall Street Analyst Weigh In

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

CVR Energy Price Performance

NYSE CVI traded up $0.18 on Wednesday, hitting $17.91. The stock had a trading volume of 482,484 shares, compared to its average volume of 1,231,539. The firm has a 50-day moving average of $18.89 and a 200-day moving average of $19.65. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 298.55 and a beta of 1.26. 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 52-week low of $15.10 and a 52-week high of $34.51.

CVR Energy (NYSE:CVI - Get Free Report) last released its quarterly earnings results 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 business had revenue of $1.95 billion during 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%. Equities analysts expect 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.