Corebridge Financial Inc. Cuts Stake in CVR Energy, Inc. (NYSE:CVI)

Corebridge Financial Inc. trimmed its stake in CVR Energy, Inc. (NYSE:CVI) by 7.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,191 shares of the oil and gas company’s stock after selling 1,420 shares during the quarter. Corebridge Financial Inc.’s holdings in CVR Energy were worth $341,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVI. R Squared Ltd acquired a new position in CVR Energy in the fourth quarter valued at $36,000. PNC Financial Services Group Inc. raised its holdings in shares of CVR Energy by 55.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,052 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 731 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of CVR Energy in the 3rd quarter valued at about $43,000. FMR LLC grew its holdings in shares of CVR Energy by 103.4% during the 3rd quarter. FMR LLC now owns 4,031 shares of the oil and gas company’s stock worth $93,000 after purchasing an additional 2,049 shares during the period. Finally, New York State Teachers Retirement System increased its position in CVR Energy by 11.3% during the 4th quarter. New York State Teachers Retirement System now owns 13,812 shares of the oil and gas company’s stock worth $259,000 after purchasing an additional 1,400 shares in the last quarter. Institutional investors and hedge funds own 98.88% of the company’s stock.

Analyst Upgrades and Downgrades

CVI has been the topic of a number of recent research reports. Mizuho lifted their price target on shares of CVR Energy from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, April 1st. The Goldman Sachs Group decreased their price target on shares of CVR Energy from $19.00 to $16.00 and set a “sell” rating for the company in a research report on Thursday, March 27th. Finally, StockNews.com raised CVR Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, February 19th. Five research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $22.20.

Insider Buying and Selling at CVR Energy

In related news, major shareholder Carl C. Icahn purchased 244,200 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The shares were purchased at an average cost of $16.11 per share, with a total value of $3,934,062.00. Following the completion of the acquisition, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have acquired a total of 1,123,018 shares of company stock valued at $19,444,107 in the last three months. Corporate insiders own 0.01% of the company’s stock.

CVR Energy Stock Performance

CVR Energy stock opened at $16.74 on Friday. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.66 and a quick ratio of 0.86. The firm’s fifty day moving average price is $18.96 and its 200 day moving average price is $19.78. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 279.03 and a beta of 1.26. CVR Energy, Inc. has a 12-month low of $15.10 and a 12-month high of $36.06.

CVR Energy (NYSE:CVI) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.12). CVR Energy had a negative return on equity of 5.12% and a net margin of 0.09%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.85 billion. On average, research analysts forecast that CVR Energy, Inc. will post -0.12 EPS for the current fiscal 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.