Bayforest Capital Ltd Buys Shares of 53,937 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 position in shares of CVR Energy Inc. (NYSE:CVI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 53,937 shares of the oil and gas company's stock, valued at approximately $1,046,000. CVR Energy comprises approximately 0.5% of Bayforest Capital Ltd's investment portfolio, making the stock its 24th largest holding. Bayforest Capital Ltd owned about 0.05% of CVR Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of CVR Energy by 3.9% during the 4th quarter. Vanguard Group Inc. now owns 4,135,315 shares of the oil and gas company's stock valued at $77,496,000 after acquiring an additional 154,125 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of CVR Energy by 12.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,181,295 shares of the oil and gas company's stock valued at $40,876,000 after buying an additional 238,081 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of CVR Energy by 36.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 776,313 shares of the oil and gas company's stock valued at $14,548,000 after buying an additional 207,872 shares during the last quarter. Geode Capital Management LLC raised its stake in CVR Energy by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 774,247 shares of the oil and gas company's stock worth $14,513,000 after acquiring an additional 3,261 shares during the period. Finally, Two Sigma Investments LP lifted its holdings in CVR Energy by 56.2% in the fourth quarter. Two Sigma Investments LP now owns 750,195 shares of the oil and gas company's stock worth $14,059,000 after acquiring an additional 269,763 shares during the last quarter. 98.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVI has been the topic of a number of research reports. Scotiabank increased their price target on CVR Energy from $21.00 to $25.00 and gave the stock a "sector underperform" rating in a research report on Friday, July 11th. Wall Street Zen lowered shares of CVR Energy from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. Mizuho lifted their price objective on shares of CVR Energy from $21.00 to $25.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Finally, Raymond James Financial cut shares of CVR Energy from a "market perform" rating to an "underperform" rating in a research report on Tuesday, July 15th. Seven research analysts have rated the stock with a sell rating and two have given a hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and an average price target of $23.80.

CVR Energy Price Performance

Shares of NYSE CVI traded down $1.71 during midday trading on Friday, reaching $25.07. The company's stock had a trading volume of 1,741,824 shares, compared to its average volume of 1,042,480. The company has a current ratio of 1.32, a quick ratio of 0.85 and a debt-to-equity ratio of 2.47. The company has a market cap of $2.52 billion, a price-to-earnings ratio of -7.55 and a beta of 1.17. CVR Energy Inc. has a one year low of $15.10 and a one year high of $32.67. The company has a 50 day moving average price of $27.15 and a 200 day moving average price of $22.20.

CVR Energy (NYSE:CVI - Get Free Report) last announced its earnings results 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). The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.73 billion. CVR Energy had a negative return on equity of 17.18% and a negative net margin of 4.63%. The firm's revenue for the quarter was down 10.5% on a year-over-year basis. During the same period last year, the firm earned $0.09 earnings per share. On average, equities research analysts expect that CVR Energy Inc. will post -0.12 EPS for the current year.

CVR Energy 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.