Groesbeck Investment Management Corp NJ Takes Position in CVR Energy, Inc. (NYSE:CVI)

Groesbeck Investment Management Corp NJ bought a new stake in CVR Energy, Inc. (NYSE:CVI) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 34,000 shares of the oil and gas company’s stock, valued at approximately $637,000.

A number of other hedge funds have also modified their holdings of the business. State Street Corp grew its holdings in shares of CVR Energy by 18.1% in the third quarter. State Street Corp now owns 2,075,058 shares of the oil and gas company’s stock valued at $47,789,000 after purchasing an additional 317,475 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of CVR Energy in the third quarter valued at about $5,335,000. Millennium Management LLC purchased a new stake in shares of CVR Energy in the second quarter valued at about $2,889,000. Holocene Advisors LP grew its holdings in shares of CVR Energy by 134.1% in the third quarter. Holocene Advisors LP now owns 179,702 shares of the oil and gas company’s stock valued at $4,139,000 after purchasing an additional 102,935 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in shares of CVR Energy by 37.2% in the third quarter. Advisors Asset Management Inc. now owns 352,075 shares of the oil and gas company’s stock valued at $8,108,000 after purchasing an additional 95,371 shares during the period. 98.88% of the stock is currently owned by institutional investors and hedge funds.

CVR Energy Stock Up 3.8 %

Shares of NYSE:CVI opened at $19.64 on Wednesday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.33 and a quick ratio of 0.86. The firm has a market capitalization of $1.97 billion, a PE ratio of 28.46 and a beta of 1.57. The firm’s 50-day moving average is $19.25 and its two-hundred day moving average is $21.70. CVR Energy, Inc. has a 1 year low of $15.60 and a 1 year high of $38.07.

Insiders Place Their Bets

In related news, major shareholder Carl C. Icahn acquired 878,212 shares of the stock in a transaction dated Wednesday, January 8th. The stock was acquired at an average cost of $18.25 per share, with a total value of $16,027,369.00. Following the completion of the transaction, the insider now owns 67,570,593 shares in the company, valued at $1,233,163,322.25. This represents a 1.32 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

CVI has been the subject of a number of analyst reports. 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 report on Friday, December 6th. Scotiabank dropped their price objective on shares of CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating for the company in a report on Thursday, October 10th. StockNews.com cut shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Saturday, December 14th. Finally, Mizuho upped their target price on shares of CVR Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Six research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $23.00.

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.