State of Wyoming Acquires New Shares in CVR Energy Inc. $CVI

Key Points

• The State of Wyoming has made a new investment of approximately $233,000 in CVR Energy Inc. by acquiring 11,999 shares.
• Multiple institutional investors have recently increased their stakes in CVR Energy, with Ameriprise Financial Inc. boosting its holdings by 38.6% in the fourth quarter.
• CVR Energy's recent earnings report showed a loss of $0.23 per share, missing analysts' expectations, and a 10.5% year-over-year decline in revenue.

State of Wyoming bought a new stake in shares of CVR Energy Inc. (NYSE:CVI - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,999 shares of the oil and gas company's stock, valued at approximately $233,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVI. Two Sigma Investments LP raised its holdings in shares of CVR Energy by 56.2% during the fourth quarter. Two Sigma Investments LP now owns 750,195 shares of the oil and gas company's stock valued at $14,059,000 after acquiring an additional 269,763 shares in the last quarter. Millennium Management LLC raised its holdings in shares of CVR Energy by 1,203.0% during the fourth quarter. Millennium Management LLC now owns 286,100 shares of the oil and gas company's stock valued at $5,362,000 after acquiring an additional 264,143 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of CVR Energy by 36.6% during the fourth 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 acquiring an additional 207,872 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of CVR Energy by 38.6% during the fourth quarter. Ameriprise Financial Inc. now owns 732,452 shares of the oil and gas company's stock valued at $13,726,000 after acquiring an additional 204,101 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in shares of CVR Energy by 26.6% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 587,300 shares of the oil and gas company's stock valued at $11,394,000 after acquiring an additional 123,510 shares in the last quarter. Institutional investors own 98.88% of the company's stock.

CVR Energy Stock Up 3.5%

Shares of NYSE:CVI traded up $1.07 on Tuesday, hitting $31.90. 969,624 shares of the company traded hands, compared to its average volume of 1,184,194. CVR Energy Inc. has a 52 week low of $15.10 and a 52 week high of $32.82. 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 stock has a 50 day simple moving average of $28.62 and a 200-day simple moving average of $23.82. The company has a market cap of $3.21 billion, a PE ratio of -9.62 and a beta of 1.32.

CVR Energy (NYSE:CVI - Get Free Report) last issued its quarterly 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 net margin of 4.63% and a negative return on equity of 18.11%. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the business earned $0.09 earnings per share. CVR Energy's revenue was down 10.5% compared to the same quarter last year. As a group, research analysts expect that CVR Energy Inc. will post -0.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Scotiabank upped their target price on CVR Energy from $21.00 to $25.00 and gave the company a "sector underperform" rating in a report on Friday, July 11th. Raymond James Financial downgraded CVR Energy from a "market perform" rating to an "underperform" rating in a report on Tuesday, July 15th. Finally, Mizuho increased their price objective on CVR Energy from $21.00 to $25.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. One research analyst has rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Strong Sell" and a consensus target price of $22.25.

CVR Energy Company 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.