Strs Ohio Purchases Shares of 27,400 CVR Energy Inc. $CVI

Key Points

• Strs Ohio acquired a new position in CVR Energy, purchasing 27,400 shares valued at approximately $532,000 in the first quarter of 2023.
• Other institutional investors, including Harbor Capital Advisors and Caitong International Asset Management, have significantly increased their stakes in CVR Energy, demonstrating strong institutional interest in the company.
• CVR Energy's recent quarterly earnings report revealed a missing EPS of ($0.23) against an expected consensus of ($0.08), with a 10.5% revenue decline year-over-year.

Strs Ohio bought a new stake in shares of CVR Energy Inc. (NYSE:CVI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 27,400 shares of the oil and gas company's stock, valued at approximately $532,000.

Several other large investors also recently added to or reduced their stakes in the company. Bayforest Capital Ltd acquired a new stake in CVR Energy during the 1st quarter valued at $1,046,000. Aristeia Capital L.L.C. acquired a new stake in CVR Energy during the 1st quarter valued at $246,000. Goldman Sachs Group Inc. raised its stake in CVR Energy by 14.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 496,650 shares of the oil and gas company's stock valued at $9,635,000 after purchasing an additional 63,909 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in CVR Energy during the 1st quarter valued at $378,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in CVR Energy by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,301 shares of the oil and gas company's stock valued at $394,000 after purchasing an additional 858 shares during the period. 98.88% of the stock is owned by institutional investors and hedge funds.

CVR Energy Stock Up 3.4%

NYSE:CVI traded up $1.16 during trading hours on Monday, reaching $35.42. The company's stock had a trading volume of 2,745,829 shares, compared to its average volume of 2,313,078. The company has a market cap of $3.56 billion, a price-to-earnings ratio of -10.67 and a beta of 1.32. CVR Energy Inc. has a one year low of $15.10 and a one year high of $35.65. The business's 50-day moving average is $29.03 and its 200-day moving average is $24.67. The company has a debt-to-equity ratio of 2.78, a current ratio of 1.17 and a quick ratio of 0.75.

CVR Energy (NYSE:CVI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The oil and gas company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 return on equity of 18.11% and a negative net margin of 4.63%.The company's revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.09 earnings per share. Equities research analysts predict that CVR Energy Inc. will post -0.12 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CVI shares. Mizuho restated an "underperform" rating and set a $29.00 price target (up from $27.00) on shares of CVR Energy in a report on Monday, September 15th. Raymond James Financial cut shares of CVR Energy from a "market perform" rating to an "underperform" rating in a report on Tuesday, July 15th. Scotiabank boosted their price target on shares of CVR Energy from $21.00 to $25.00 and gave the company a "sector underperform" rating in a report on Friday, July 11th. Finally, Zacks Research upgraded shares of CVR Energy from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 16th. One analyst has rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, CVR Energy has an average rating of "Strong Sell" and a consensus price target of $23.25.

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.