CVR Energy, Inc. (NYSE:CVI) Sees Large Growth in Short Interest

CVR Energy, Inc. (NYSE:CVI) saw a large growth in short interest in January. As of January 31st, there was short interest totalling 1,780,000 shares, a growth of 7.2% from the January 15th total of 1,660,000 shares. Based on an average daily volume of 518,100 shares, the short-interest ratio is currently 3.4 days. Currently, 1.8% of the shares of the stock are short sold.

Shares of CVI traded down $0.32 during midday trading on Friday, reaching $33.83. The company had a trading volume of 329,200 shares, compared to its average volume of 548,971. CVR Energy has a 1-year low of $33.17 and a 1-year high of $55.52. The stock has a market cap of $3.43 billion, a PE ratio of 8.13 and a beta of 1.33. The firm has a 50 day simple moving average of $37.35 and a 200-day simple moving average of $42.35. The company has a quick ratio of 1.59, a current ratio of 2.25 and a debt-to-equity ratio of 0.69.

Several institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC increased its stake in shares of CVR Energy by 14.0% in the 4th quarter. Renaissance Technologies LLC now owns 2,399,379 shares of the oil and gas company’s stock worth $97,007,000 after acquiring an additional 294,610 shares during the last quarter. State Street Corp increased its stake in shares of CVR Energy by 11.1% in the 4th quarter. State Street Corp now owns 1,338,848 shares of the oil and gas company’s stock worth $54,130,000 after acquiring an additional 134,083 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of CVR Energy by 7.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,063,701 shares of the oil and gas company’s stock worth $43,006,000 after acquiring an additional 72,289 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of CVR Energy by 147.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 476,220 shares of the oil and gas company’s stock worth $20,970,000 after acquiring an additional 283,490 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in shares of CVR Energy by 1.5% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 217,729 shares of the oil and gas company’s stock worth $9,587,000 after acquiring an additional 3,241 shares during the last quarter. 93.91% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have weighed in on CVI. Credit Suisse Group began coverage on CVR Energy in a report on Friday, January 3rd. They issued a “neutral” rating and a $43.00 price objective on the stock. Citigroup decreased their price objective on CVR Energy from $44.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Finally, Goldman Sachs Group upgraded CVR Energy from a “sell” rating to a “neutral” rating and set a $38.00 price objective on the stock in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. CVR Energy has a consensus rating of “Hold” and an average price target of $40.33.

CVR Energy Company Profile

CVR Energy, Inc, through its subsidiaries, engages in petroleum refining and nitrogen fertilizer manufacturing activities in the United States. The company operates in Petroleum and Nitrogen Fertilizer segments. The Petroleum segment refines and markets transportation fuels, such as gasoline, diesel fuel, and other refined products.

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