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

Kennondale Capital Management LLC bought a new position in CVR Energy, Inc. (NYSE:CVI) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 32,887 shares of the oil and gas company’s stock, valued at approximately $616,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp lifted its position in shares of CVR Energy by 18.1% in the 3rd quarter. State Street Corp now owns 2,075,058 shares of the oil and gas company’s stock worth $47,789,000 after purchasing an additional 317,475 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of CVR Energy by 22.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 783,079 shares of the oil and gas company’s stock worth $14,675,000 after purchasing an additional 143,941 shares during the period. Advisors Asset Management Inc. lifted its position in shares of CVR Energy by 37.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 352,075 shares of the oil and gas company’s stock worth $8,108,000 after purchasing an additional 95,371 shares during the period. Victory Capital Management Inc. lifted its position in shares of CVR Energy by 7.4% in the 3rd quarter. Victory Capital Management Inc. now owns 347,969 shares of the oil and gas company’s stock worth $8,014,000 after purchasing an additional 23,952 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of CVR Energy in the 3rd quarter worth about $5,335,000. 98.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CVR Energy

In other news, major shareholder Carl C. Icahn acquired 878,212 shares of CVR Energy stock in a transaction on Wednesday, January 8th. The stock was acquired at an average cost of $18.25 per share, for a total transaction of $16,027,369.00. Following the purchase, the insider now owns 67,570,593 shares in the company, valued at $1,233,163,322.25. This trade represents a 1.32 % 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 the SEC website. In the last ninety days, insiders bought 1,492,540 shares of company stock worth $27,049,928. 0.01% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on CVI. Mizuho raised 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. 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 lowered their price target on shares of CVR Energy from $24.00 to $21.00 and set a “sell” rating for the company in a research report on Friday, December 6th. Five analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $23.00.

CVR Energy Trading Up 7.5 %

Shares of NYSE CVI opened at $20.68 on Tuesday. The stock has a market cap of $2.08 billion, a P/E ratio of 344.66 and a beta of 1.55. 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, Inc. has a 1 year low of $15.60 and a 1 year high of $38.07. The firm has a 50-day moving average of $19.38 and a 200 day moving average of $20.36.

CVR Energy (NYSE:CVI) last released its quarterly earnings data on Tuesday, February 18th. The oil and gas company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.12). The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate 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, sell-side analysts expect that CVR Energy, Inc. will post -0.12 EPS for the current fiscal 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.