Bayforest Capital Ltd Purchases New Stake in CVR Energy Inc. (NYSE:CVI)

Key Points

• Bayforest Capital Ltd has invested $1.05 million in CVR Energy Inc., acquiring 53,937 shares, which represent approximately 0.5% of its holdings.
• Several institutional investors have significantly increased their stakes in CVR Energy, with CWM LLC raising its holdings by 304.2% during the first quarter.
• CVR Energy has seen analyst ratings decline, with seven analysts giving it a "sell" rating and a consensus target price set at $23.80, despite the stock recently opening at $29.20.

Bayforest Capital Ltd purchased a new stake in CVR Energy Inc. (NYSE:CVI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 53,937 shares of the oil and gas company's stock, valued at approximately $1,046,000. CVR Energy accounts for approximately 0.5% of Bayforest Capital Ltd's portfolio, making the stock its 24th biggest position. Bayforest Capital Ltd owned approximately 0.05% of CVR Energy as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. lifted its position in shares of CVR Energy by 65.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 1,633 shares of the oil and gas company's stock valued at $32,000 after acquiring an additional 646 shares during the period. GAMMA Investing LLC lifted its position in shares of CVR Energy by 106.6% during the 1st quarter. GAMMA Investing LLC now owns 2,159 shares of the oil and gas company's stock valued at $42,000 after acquiring an additional 1,114 shares during the period. CWM LLC lifted its position in shares of CVR Energy by 304.2% during the 1st quarter. CWM LLC now owns 2,676 shares of the oil and gas company's stock valued at $52,000 after acquiring an additional 2,014 shares during the period. IHT Wealth Management LLC lifted its position in shares of CVR Energy by 14.3% during the 4th quarter. IHT Wealth Management LLC now owns 10,176 shares of the oil and gas company's stock valued at $191,000 after acquiring an additional 1,275 shares during the period. Finally, ProShare Advisors LLC acquired a new position in shares of CVR Energy during the 4th quarter valued at $193,000. 98.88% of the stock is currently owned by institutional investors and hedge funds.

CVR Energy Stock Performance

CVR Energy stock traded down $1.71 during midday trading on Friday, reaching $25.07. The stock had a trading volume of 1,741,863 shares, compared to its average volume of 998,199. CVR Energy Inc. has a 12 month low of $15.10 and a 12 month high of $32.67. The firm's 50-day moving average price is $27.18 and its 200 day moving average price is $22.23. The firm has a market capitalization of $2.52 billion, a PE ratio of -7.55 and a beta of 1.20. The company has a quick ratio of 0.85, a current ratio of 1.32 and a debt-to-equity ratio of 2.47.

CVR Energy (NYSE:CVI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The oil and gas company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.15). CVR Energy had a negative net margin of 4.63% and a negative return on equity of 17.18%. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the firm posted $0.09 earnings per share. The company's revenue was down 10.5% on a year-over-year basis. As a group, research analysts predict that CVR Energy Inc. will post -0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CVI has been the subject of a number of recent research reports. Raymond James Financial lowered shares of CVR Energy from a "market perform" rating to an "underperform" rating in a research note on Tuesday, July 15th. Mizuho lifted their target price on CVR Energy from $21.00 to $25.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Wall Street Zen downgraded shares of CVR Energy from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. Finally, Scotiabank boosted their price target on shares of CVR Energy from $21.00 to $25.00 and gave the stock a "sector underperform" rating in a report on Friday, July 11th. Seven analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average target price of $23.80.

CVR Energy Company Profile

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.