Allianz Asset Management GmbH Purchases 187,620 Shares of CVR Energy Inc. $CVI

Allianz Asset Management GmbH increased its position in CVR Energy Inc. (NYSE:CVI) by 69.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 458,214 shares of the oil and gas company’s stock after purchasing an additional 187,620 shares during the period. Allianz Asset Management GmbH’s holdings in CVR Energy were worth $16,716,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in CVR Energy by 67.2% during the first quarter. Royal Bank of Canada now owns 14,904 shares of the oil and gas company’s stock worth $289,000 after purchasing an additional 5,992 shares during the period. AQR Capital Management LLC bought a new stake in shares of CVR Energy in the first quarter valued at approximately $611,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of CVR Energy by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,301 shares of the oil and gas company’s stock valued at $394,000 after buying an additional 858 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in CVR Energy by 14.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 496,650 shares of the oil and gas company’s stock worth $9,635,000 after buying an additional 63,909 shares during the period. Finally, KLP Kapitalforvaltning AS boosted its holdings in CVR Energy by 14.5% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 22,900 shares of the oil and gas company’s stock worth $615,000 after buying an additional 2,900 shares during the period. 98.88% of the stock is currently owned by institutional investors.

CVR Energy Stock Up 4.2%

CVI opened at $24.58 on Friday. The business’s fifty day simple moving average is $26.44 and its 200 day simple moving average is $30.59. CVR Energy Inc. has a 52 week low of $15.10 and a 52 week high of $41.67. The company has a quick ratio of 1.28, a current ratio of 1.96 and a debt-to-equity ratio of 1.76. The stock has a market cap of $2.47 billion, a PE ratio of 14.99 and a beta of 1.16.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CVI shares. Wall Street Zen upgraded CVR Energy from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. The Goldman Sachs Group boosted their price objective on CVR Energy from $19.00 to $25.00 and gave the company a “sell” rating in a research note on Wednesday, October 22nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of CVR Energy in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Strong Sell” and an average price target of $29.25.

CVR Energy Company Profile

CVR Energy, Inc is an independent downstream energy company engaged primarily in petroleum refining and nitrogen fertilizer production in the United States. Headquartered in Sugar Land, Texas, CVR Energy operates through two reportable segments—Petroleum Products and Nitrogen Fertilizers—leveraging its refining expertise and distribution network to serve both wholesale and retail markets across key regions in the U.S.

In its Petroleum Products segment, the company owns and operates the Coffeyville, Kansas refinery, which has the capability to process various grades of crude oil into gasoline, diesel, jet fuel and other refined products.