Virtus Investment Advisers LLC Reduces Stock Position in CVR Energy Inc. $CVI

Virtus Investment Advisers LLC trimmed its holdings in CVR Energy Inc. (NYSE:CVI) by 25.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,236 shares of the oil and gas company’s stock after selling 2,087 shares during the period. Virtus Investment Advisers LLC’s holdings in CVR Energy were worth $167,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Matrix Trust Co bought a new position in shares of CVR Energy in the second quarter worth $26,000. Caitong International Asset Management Co. Ltd grew its holdings in CVR Energy by 1,030.2% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,944 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 1,772 shares in the last quarter. CWM LLC increased its position in shares of CVR Energy by 304.2% during the first quarter. CWM LLC now owns 2,676 shares of the oil and gas company’s stock valued at $52,000 after buying an additional 2,014 shares during the period. AlphaQuest LLC increased its position in shares of CVR Energy by 600.3% during the second quarter. AlphaQuest LLC now owns 5,287 shares of the oil and gas company’s stock valued at $142,000 after buying an additional 4,532 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of CVR Energy in the second quarter worth about $236,000. Hedge funds and other institutional investors own 98.88% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on CVI shares. Zacks Research upgraded shares of CVR Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 16th. Wall Street Zen raised CVR Energy from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “hold (c)” rating on shares of CVR Energy in a research note on Tuesday. Mizuho reiterated an “underperform” rating and set a $29.00 target price (up from $27.00) on shares of CVR Energy in a research report on Monday, September 15th. Finally, UBS Group set a $37.00 price target on shares of CVR Energy in a report on Sunday, September 28th. Two research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Strong Sell” and an average price target of $29.25.

CVR Energy Stock Up 0.3%

Shares of CVR Energy stock opened at $34.53 on Friday. The company has a debt-to-equity ratio of 2.78, a quick ratio of 0.75 and a current ratio of 1.17. CVR Energy Inc. has a 52-week low of $15.10 and a 52-week high of $41.67. The company’s 50 day moving average price is $36.11 and its 200-day moving average price is $30.62. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 21.06 and a beta of 1.21.

CVR Energy (NYSE:CVI) last announced its quarterly earnings results on Tuesday, September 2nd. The oil and gas company reported ($0.23) earnings per share for the quarter. CVR Energy had a net margin of 2.26% and a negative return on equity of 6.98%. The firm had revenue of $1.76 billion for the quarter. Equities research analysts forecast 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.