CVR Energy Inc. (NYSE:CVI) Shares Purchased by Vestcor Inc

Key Points

• Vestcor Inc increased its stock holdings in CVR Energy Inc. by 67% during Q1, bringing their total to 32,400 shares, worth approximately $629,000.
• Multiple institutional investors have adjusted their positions in CVR Energy, with significant increases from firms such as Vanguard Group and Dimensional Fund Advisors.
• Recently, analyst ratings for CVR Energy have turned pessimistic, with several firms downgrading the stock and an average target price set at $23.80 amidst weaker quarterly earnings results.

Vestcor Inc lifted its position in CVR Energy Inc. (NYSE:CVI - Free Report) by 67.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,400 shares of the oil and gas company's stock after buying an additional 13,000 shares during the period. Vestcor Inc's holdings in CVR Energy were worth $629,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Harbor Capital Advisors Inc. grew its stake in shares of CVR Energy by 65.5% during the 1st 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 during the period. GAMMA Investing LLC raised its position in shares of CVR Energy by 106.6% during the 1st quarter. GAMMA Investing LLC now owns 2,159 shares of the oil and gas company's stock valued at $42,000 after purchasing an additional 1,114 shares during the period. CWM LLC lifted its stake in shares of CVR Energy by 304.2% during the 1st quarter. CWM LLC now owns 2,676 shares of the oil and gas company's stock valued at $52,000 after buying an additional 2,014 shares in the last quarter. IHT Wealth Management LLC lifted its stake in shares of CVR Energy by 14.3% during the 4th quarter. IHT Wealth Management LLC now owns 10,176 shares of the oil and gas company's stock valued at $191,000 after buying an additional 1,275 shares in the last quarter. Finally, ProShare Advisors LLC bought a new position in CVR Energy in the 4th quarter worth $193,000. Hedge funds and other institutional investors own 98.88% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on CVI. Raymond James Financial downgraded CVR Energy from a "market perform" rating to an "underperform" rating in a research report on Tuesday, July 15th. Wall Street Zen downgraded CVR Energy from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Mizuho lifted their price objective on shares of CVR Energy from $21.00 to $25.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Finally, Scotiabank raised their target price on shares of CVR Energy from $21.00 to $25.00 and gave the company a "sector underperform" rating in a research note on Friday, July 11th. Seven analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to data from MarketBeat, CVR Energy currently has a consensus rating of "Reduce" and a consensus target price of $23.80.

CVR Energy Trading Up 1.8%

Shares of CVI stock traded up $0.47 during trading hours on Wednesday, reaching $26.64. 1,154,869 shares of the stock were exchanged, compared to its average volume of 1,052,764. CVR Energy Inc. has a 12-month low of $15.10 and a 12-month high of $32.67. The company has a current ratio of 1.17, a quick ratio of 0.75 and a debt-to-equity ratio of 2.78. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of -8.03 and a beta of 1.20. The company's 50-day moving average price is $27.25 and its 200-day moving average price is $22.31.

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