Massachusetts Financial Services Co. MA Sells 42,362 Shares of CVR Energy, Inc. (NYSE:CVI)

Massachusetts Financial Services Co. MA lowered its position in CVR Energy, Inc. (NYSE:CVI) by 64.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 23,745 shares of the oil and gas company’s stock after selling 42,362 shares during the period. Massachusetts Financial Services Co. MA’s holdings in CVR Energy were worth $547,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Intech Investment Management LLC purchased a new stake in CVR Energy in the 3rd quarter valued at about $231,000. Advisors Asset Management Inc. increased its position in shares of CVR Energy by 37.2% during 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 acquiring an additional 95,371 shares during the last quarter. Quest Partners LLC lifted its holdings in CVR Energy by 1,034.9% during the third quarter. Quest Partners LLC now owns 39,550 shares of the oil and gas company’s stock worth $911,000 after acquiring an additional 36,065 shares during the period. Thrivent Financial for Lutherans boosted its position in CVR Energy by 10.9% in the third quarter. Thrivent Financial for Lutherans now owns 26,841 shares of the oil and gas company’s stock worth $618,000 after purchasing an additional 2,639 shares during the last quarter. Finally, Royce & Associates LP grew its stake in CVR Energy by 58.1% in the 3rd quarter. Royce & Associates LP now owns 101,043 shares of the oil and gas company’s stock valued at $2,327,000 after purchasing an additional 37,130 shares during the period. 98.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Tudor, Pickering, Holt & Co. downgraded shares of CVR Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. JPMorgan Chase & Co. reduced their target price on shares of CVR Energy from $26.00 to $23.00 and set an “underweight” rating for the company in a research report on Wednesday, October 2nd. UBS Group lowered their price target on shares of CVR Energy from $33.75 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Tudor Pickering raised CVR Energy to a “strong sell” rating in a report on Monday, September 9th. Finally, Mizuho lowered their target price on CVR Energy from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Five research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $24.75.

CVR Energy Stock Up 0.6 %

CVI opened at $19.26 on Thursday. CVR Energy, Inc. has a 12 month low of $15.60 and a 12 month high of $38.07. The company has a market cap of $1.94 billion, a PE ratio of 27.91 and a beta of 1.52. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 1.84. The company has a 50 day moving average of $21.46 and a 200 day moving average of $24.45.

CVR Energy (NYSE:CVI) last announced its quarterly earnings results on Monday, October 28th. The oil and gas company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.41). The company had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.91 billion. CVR Energy had a net margin of 0.89% and a return on equity of 2.88%. CVR Energy’s revenue for the quarter was down 27.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.89 earnings per share. On average, sell-side analysts expect 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.