Public Sector Pension Investment Board Increases Stock Holdings in CVR Energy Inc. $CVI

Key Points

• The Public Sector Pension Investment Board increased its stake in CVR Energy Inc. by 26.6%, acquiring an additional 22,798 shares during the first quarter.
• CVR Energy reported a quarterly revenue of $1.76 billion, missing earnings estimates and experiencing a 10.5% year-over-year revenue decline.
• The company's stock has been rated as a "Strong Sell" by analysts, with a consensus price target of $22.25.

Public Sector Pension Investment Board boosted its position in CVR Energy Inc. (NYSE:CVI - Free Report) by 26.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 108,357 shares of the oil and gas company's stock after purchasing an additional 22,798 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.11% of CVR Energy worth $2,102,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CVI. Harbor Capital Advisors Inc. increased its holdings in shares of CVR Energy by 65.5% during the first 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in CVR Energy by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,443 shares of the oil and gas company's stock valued at $364,000 after buying an additional 683 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in CVR Energy by 2.5% in the first quarter. SummerHaven Investment Management LLC now owns 31,707 shares of the oil and gas company's stock valued at $615,000 after buying an additional 759 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in CVR Energy by 1.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,282 shares of the oil and gas company's stock valued at $1,130,000 after buying an additional 1,035 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in CVR Energy by 106.6% in the first quarter. GAMMA Investing LLC now owns 2,159 shares of the oil and gas company's stock valued at $42,000 after buying an additional 1,114 shares during the last quarter. 98.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

CVR Energy Price Performance

Shares of CVI stock traded down $0.13 during trading hours on Tuesday, hitting $28.29. 2,317,311 shares of the company's stock were exchanged, compared to its average volume of 1,894,667. The company has a quick ratio of 0.75, a current ratio of 1.17 and a debt-to-equity ratio of 2.78. The firm has a market cap of $2.84 billion, a P/E ratio of -8.52 and a beta of 1.20. The firm has a 50 day moving average of $27.97 and a two-hundred day moving average of $23.07. CVR Energy Inc. has a fifty-two week low of $15.10 and a fifty-two week high of $32.67.

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 for the quarter, missing the consensus estimate of ($0.08) by ($0.15). CVR Energy had a negative return on equity of 18.11% and a negative net margin of 4.63%.The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the company earned $0.09 earnings per share. The company's quarterly revenue was down 10.5% compared to the same quarter last year. Sell-side analysts forecast that CVR Energy Inc. will post -0.12 EPS for the current 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.