Charles Schwab Investment Management Inc. Purchases 111,114 Shares of CVR Energy Inc. $CVI

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in CVR Energy by 14.2%, acquiring an additional 111,114 shares, bringing its total to approximately 894,193 shares valued at $17.3 million.
• CVR Energy reported a loss of $0.23 EPS for the last quarter, falling short of analyst expectations, despite generating revenue of $1.76 billion.
• Analyst ratings for CVR Energy have turned negative, with the consensus rating being a "Strong Sell" and an average price target of $22.25.

Charles Schwab Investment Management Inc. boosted its stake in shares of CVR Energy Inc. (NYSE:CVI - Free Report) by 14.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 894,193 shares of the oil and gas company's stock after buying an additional 111,114 shares during the period. Charles Schwab Investment Management Inc. owned about 0.89% of CVR Energy worth $17,347,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVI. Harbor Capital Advisors Inc. raised its holdings in 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 worth $32,000 after buying an additional 646 shares during the period. GAMMA Investing LLC increased its holdings in shares of CVR Energy by 106.6% in the 1st quarter. GAMMA Investing LLC now owns 2,159 shares of the oil and gas company's stock valued at $42,000 after purchasing an additional 1,114 shares during the period. CWM LLC increased its holdings in shares of CVR Energy by 304.2% in the 1st quarter. CWM LLC now owns 2,676 shares of the oil and gas company's stock valued at $52,000 after purchasing an additional 2,014 shares during the period. IHT Wealth Management LLC increased its holdings in shares of CVR Energy by 14.3% in 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 purchasing an additional 1,275 shares during the period. Finally, ProShare Advisors LLC acquired a new position in shares of CVR Energy in the 4th quarter valued at about $193,000. Institutional investors and hedge funds own 98.88% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CVI shares. Mizuho upped their target price on CVR Energy from $21.00 to $25.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Raymond James Financial cut CVR Energy from a "market perform" rating to an "underperform" rating in a research note on Tuesday, July 15th. Scotiabank boosted their price target on CVR Energy from $21.00 to $25.00 and gave the company a "sector underperform" rating in a research note on Friday, July 11th. Finally, Wall Street Zen cut CVR Energy from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Strong Sell" and a consensus target price of $22.25.

CVR Energy Stock Performance

CVR Energy stock traded up $0.11 during trading hours on Thursday, reaching $29.69. 2,286,006 shares of the company were exchanged, compared to its average volume of 2,010,872. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of -8.94 and a beta of 1.20. The company has a current ratio of 1.17, a quick ratio of 0.75 and a debt-to-equity ratio of 2.78. The stock has a 50-day moving average of $28.06 and a 200 day moving average of $23.19. CVR Energy Inc. has a 12 month low of $15.10 and a 12 month high of $32.67.

CVR Energy (NYSE:CVI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The oil and gas company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.15). The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.73 billion. CVR Energy had a negative net margin of 4.63% and a negative return on equity of 18.11%. The firm's revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.09 earnings per share. As a group, research analysts anticipate that CVR Energy Inc. will post -0.12 earnings per share 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.