CVR Energy Inc. $CVI Shares Purchased by Teachers Retirement System of The State of Kentucky

Key Points

• Teachers Retirement System of the State of Kentucky increased its CVR Energy stake by 662% in the first quarter, ending with 57,582 shares worth about $1.94 million.
• CVR Energy reported a larger-than-expected loss for the latest quarter, posting EPS of -$1.24 versus an estimate of -$0.54, though revenue rose 20.3% year over year to $1.98 billion.
• Analysts remain bearish on the stock, with multiple firms issuing or maintaining sell ratings and MarketBeat showing a consensus rating of “Strong Sell” with a $30.25 price target.

Teachers Retirement System of The State of Kentucky raised its stake in CVR Energy Inc. (NYSE:CVI - Free Report) by 662.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,582 shares of the oil and gas company's stock after purchasing an additional 50,025 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.06% of CVR Energy worth $1,937,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tudor Investment Corp ET AL purchased a new stake in shares of CVR Energy during the 3rd quarter valued at about $22,217,000. UBS Group AG boosted its holdings in CVR Energy by 32.2% in the 4th quarter. UBS Group AG now owns 850,042 shares of the oil and gas company's stock worth $21,625,000 after acquiring an additional 206,861 shares during the period. GSA Capital Partners LLP grew its position in CVR Energy by 136.0% in the fourth quarter. GSA Capital Partners LLP now owns 51,991 shares of the oil and gas company's stock valued at $1,323,000 after acquiring an additional 29,963 shares in the last quarter. Vanguard Group Inc. grew its position in CVR Energy by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 3,705,809 shares of the oil and gas company's stock valued at $94,276,000 after acquiring an additional 106,906 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. purchased a new stake in shares of CVR Energy during the fourth quarter valued at approximately $1,068,000. Institutional investors and hedge funds own 98.88% of the company's stock.

CVR Energy Trading Down 3.0%

Shares of NYSE CVI opened at $32.57 on Thursday. The stock's 50 day moving average price is $31.26 and its two-hundred day moving average price is $28.67. CVR Energy Inc. has a 52-week low of $19.62 and a 52-week high of $41.67. The stock has a market capitalization of $3.27 billion, a P/E ratio of -75.74 and a beta of 0.83. The company has a quick ratio of 0.89, a current ratio of 1.44 and a debt-to-equity ratio of 2.41.

CVR Energy (NYSE:CVI - Get Free Report) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported ($1.24) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.70). CVR Energy had a negative return on equity of 22.36% and a negative net margin of 0.56%.The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the business posted ($0.58) EPS. CVR Energy's revenue was up 20.3% compared to the same quarter last year. On average, analysts anticipate that CVR Energy Inc. will post -0.21 earnings per share for the current fiscal year.

CVR Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 18th. Shareholders of record on Monday, May 11th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Monday, May 11th. CVR Energy's payout ratio is currently -93.02%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CVI. Weiss Ratings cut shares of CVR Energy from a "sell (d+)" rating to a "sell (d-)" rating in a research report on Friday, May 15th. Zacks Research downgraded shares of CVR Energy from a "hold" rating to a "strong sell" rating in a research note on Monday, July 6th. Wall Street Zen upgraded shares of CVR Energy from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. The Goldman Sachs Group initiated coverage on shares of CVR Energy in a research report on Friday, April 10th. They issued a "sell" rating and a $30.00 price objective for the company. Finally, Raymond James Financial upgraded CVR Energy from an "underperform" rating to a "market perform" rating in a research note on Wednesday, March 25th. Two analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Strong Sell" and a consensus price target of $30.25.

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.

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