Public Sector Pension Investment Board Buys 22,798 Shares of 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 increased its stake in CVR Energy Inc. (NYSE:CVI - Free Report) by 26.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 108,357 shares of the oil and gas company's stock after buying an additional 22,798 shares during the quarter. Public Sector Pension Investment Board owned about 0.11% of CVR Energy worth $2,102,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. lifted its position in CVR Energy by 65.5% in the first 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 worth $364,000 after purchasing an additional 683 shares during the period. SummerHaven Investment Management LLC increased its stake 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 worth $615,000 after purchasing an additional 759 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake 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 worth $1,130,000 after purchasing an additional 1,035 shares during the period. Finally, GAMMA Investing LLC increased its stake 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 worth $42,000 after purchasing an additional 1,114 shares during the period. 98.88% of the stock is currently owned by institutional investors.

CVR Energy Stock Performance

Shares of CVR Energy stock opened at $28.8880 on Thursday. The firm has a market cap of $2.90 billion, a P/E ratio of -8.70 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. CVR Energy Inc. has a 12 month low of $15.10 and a 12 month high of $32.67. The stock's fifty day moving average price is $27.92 and its 200-day moving average price is $22.80.

CVR Energy (NYSE:CVI - Get Free Report) last posted its earnings results on Wednesday, July 30th. The oil and gas company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.15). CVR Energy had a negative net margin of 4.63% and a negative return on equity of 18.11%. The company had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.73 billion. During the same quarter last year, the firm earned $0.09 EPS. CVR Energy's revenue for the quarter was down 10.5% on a year-over-year basis. On average, equities research analysts expect that CVR Energy Inc. will post -0.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wall Street Zen lowered CVR Energy from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Mizuho increased 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. Raymond James Financial lowered CVR Energy from a "market perform" rating to an "underperform" rating in a research note on Tuesday, July 15th. Finally, Scotiabank raised 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. One investment analyst has rated the stock with a Hold rating and six have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Strong Sell" and a consensus price target of $22.25.

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.

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