Bayforest Capital Ltd Acquires New Holdings in CVR Energy Inc. $CVI

Key Points

• Bayforest Capital Ltd acquired 53,937 shares of CVR Energy Inc. for approximately $1,046,000, making CVR Energy 0.5% of Bayforest's portfolio.
• Analysts have mixed views on CVR Energy, with Mizuho and Scotiabank raising their target prices to $25.00, while Raymond James Financial downgraded it to "underperform."
• CVR Energy's quarterly earnings report showed a loss of ($0.23) per share, missing estimates, despite revenue of $1.76 billion which was slightly above expectations.

Bayforest Capital Ltd acquired a new stake in shares of CVR Energy Inc. (NYSE:CVI - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 53,937 shares of the oil and gas company's stock, valued at approximately $1,046,000. CVR Energy accounts for about 0.5% of Bayforest Capital Ltd's investment portfolio, making the stock its 29th largest position. Bayforest Capital Ltd owned approximately 0.05% of CVR Energy as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in shares of CVR Energy by 7.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,111 shares of the oil and gas company's stock worth $490,000 after buying an additional 1,903 shares in the last quarter. Northern Trust Corp grew its position in shares of CVR Energy by 9.6% during the fourth quarter. Northern Trust Corp now owns 400,624 shares of the oil and gas company's stock worth $7,508,000 after buying an additional 35,130 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of CVR Energy by 38.6% during the fourth quarter. Ameriprise Financial Inc. now owns 732,452 shares of the oil and gas company's stock worth $13,726,000 after buying an additional 204,101 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of CVR Energy by 672.1% during the fourth quarter. BNP Paribas Financial Markets now owns 123,258 shares of the oil and gas company's stock worth $2,310,000 after buying an additional 107,293 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its position in shares of CVR Energy by 16.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 47,762 shares of the oil and gas company's stock worth $895,000 after buying an additional 6,645 shares in the last quarter. Hedge funds and other institutional investors own 98.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CVI. Raymond James Financial downgraded shares of CVR Energy from a "market perform" rating to an "underperform" rating in a research report on Tuesday, July 15th. Scotiabank raised their price target on shares of CVR Energy from $21.00 to $25.00 and gave the stock a "sector underperform" rating in a research report on Friday, July 11th. One analyst has rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, CVR Energy currently has a consensus rating of "Strong Sell" and a consensus target price of $22.25.

CVR Energy Stock Performance

CVR Energy stock traded down $0.63 during mid-day trading on Friday, reaching $31.19. The company's stock had a trading volume of 2,404,995 shares, compared to its average volume of 2,176,453. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of -9.39 and a beta of 1.32. The business has a 50 day moving average price of $28.86 and a 200-day moving average price of $24.12. The company has a current ratio of 1.17, a quick ratio of 0.75 and a debt-to-equity ratio of 2.78. CVR Energy Inc. has a twelve month low of $15.10 and a twelve month high of $33.24.

CVR Energy (NYSE:CVI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The oil and gas company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.15). CVR Energy had a negative net margin of 4.63% and a negative return on equity of 18.11%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the firm posted $0.09 EPS. The business's revenue was down 10.5% compared to the same quarter last year. Sell-side analysts predict 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.