Principal Financial Group Inc. Decreases Stake in CVR Energy, Inc. (NYSE:CVI)

Principal Financial Group Inc. cut its stake in CVR Energy, Inc. (NYSE:CVI) by 5.3% in the third quarter, Holdings Channel reports. The fund owned 161,844 shares of the oil and gas company’s stock after selling 8,997 shares during the period. Principal Financial Group Inc.’s holdings in CVR Energy were worth $3,727,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVI. Vanguard Group Inc. boosted its stake in shares of CVR Energy by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 4,020,717 shares of the oil and gas company’s stock valued at $143,379,000 after buying an additional 85,773 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of CVR Energy by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,072,334 shares of the oil and gas company’s stock valued at $55,476,000 after buying an additional 44,636 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of CVR Energy by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 975,323 shares of the oil and gas company’s stock valued at $26,109,000 after buying an additional 3,134 shares during the period. SIR Capital Management L.P. purchased a new position in shares of CVR Energy in the 2nd quarter valued at about $17,907,000. Finally, American Century Companies Inc. boosted its stake in shares of CVR Energy by 60.3% in the 2nd quarter. American Century Companies Inc. now owns 407,819 shares of the oil and gas company’s stock valued at $10,917,000 after buying an additional 153,396 shares during the period. 98.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Tudor Pickering upgraded CVR Energy to a “strong sell” rating in a research note on Monday, September 9th. UBS Group decreased their target price on CVR Energy from $33.75 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Scotiabank decreased their target price on CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating for the company in a research note on Thursday, October 10th. StockNews.com cut CVR Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, October 30th. Finally, Mizuho decreased their target price on CVR Energy from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Five equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to MarketBeat.com, CVR Energy presently has a consensus rating of “Reduce” and a consensus target price of $24.75.

CVR Energy Trading Up 0.7 %

CVI opened at $18.83 on Friday. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 27.28 and a beta of 1.52. CVR Energy, Inc. has a 52 week low of $15.60 and a 52 week high of $38.07. The business’s 50 day moving average is $21.69 and its two-hundred day moving average is $24.74. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 1.84.

CVR Energy (NYSE:CVI) last released its earnings results on Monday, October 28th. The oil and gas company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.41). The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.91 billion. CVR Energy had a net margin of 0.89% and a return on equity of 2.88%. The company’s revenue for the quarter was down 27.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.89 EPS. On average, research analysts predict that CVR Energy, Inc. will post 0.12 EPS 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.