Louisiana State Employees Retirement System Raises Position in CVR Energy, Inc. (NYSE:CVI)

Louisiana State Employees Retirement System raised its holdings in shares of CVR Energy, Inc. (NYSE:CVI) by 12.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,500 shares of the oil and gas company’s stock after buying an additional 1,800 shares during the period. Louisiana State Employees Retirement System’s holdings in CVR Energy were worth $380,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in CVR Energy by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 4,020,717 shares of the oil and gas company’s stock valued at $143,379,000 after buying an additional 85,773 shares during the last quarter. Kingsview Wealth Management LLC bought a new stake in shares of CVR Energy in the first quarter worth about $754,000. Neo Ivy Capital Management purchased a new position in CVR Energy during the 2nd quarter valued at about $2,484,000. Millennium Management LLC purchased a new stake in CVR Energy in the 2nd quarter worth approximately $2,889,000. Finally, Caxton Associates LP bought a new stake in shares of CVR Energy in the 1st quarter worth approximately $1,145,000. 98.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on CVI. UBS Group decreased their target price on CVR Energy from $33.75 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. StockNews.com cut shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. reduced their price target on shares of CVR Energy from $26.00 to $23.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 2nd. Mizuho lowered their price objective on shares of CVR Energy from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Finally, Tudor, Pickering, Holt & Co. cut CVR Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Five investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $24.75.

CVR Energy Trading Up 5.7 %

NYSE:CVI opened at $17.32 on Thursday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.33 and a quick ratio of 0.86. The company’s 50-day simple moving average is $22.90 and its 200 day simple moving average is $25.77. CVR Energy, Inc. has a one year low of $15.60 and a one year high of $38.07. The firm has a market capitalization of $1.74 billion, a P/E ratio of 25.10 and a beta of 1.52.

CVR Energy (NYSE:CVI) last posted its quarterly earnings data on Monday, October 28th. The oil and gas company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.41). CVR Energy had a net margin of 0.89% and a return on equity of 2.88%. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the business earned $1.89 EPS. The firm’s quarterly revenue was down 27.3% on a year-over-year basis. As a group, analysts forecast that CVR Energy, Inc. will post 0.12 EPS for the current fiscal year.

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.