State of Alaska Department of Revenue Grows Position in CVR Energy, Inc. (NYSE:CVI)

State of Alaska Department of Revenue grew its position in shares of CVR Energy, Inc. (NYSE:CVI) by 14.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,505 shares of the oil and gas company’s stock after purchasing an additional 2,388 shares during the quarter. State of Alaska Department of Revenue’s holdings in CVR Energy were worth $449,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CVI. Vanguard Group Inc. grew its position in shares of CVR Energy by 2.2% in the first quarter. Vanguard Group Inc. now owns 4,020,717 shares of the oil and gas company’s stock valued at $143,379,000 after purchasing an additional 85,773 shares during the period. Kingsview Wealth Management LLC purchased a new stake in shares of CVR Energy during the first quarter worth approximately $754,000. Neo Ivy Capital Management acquired a new position in CVR Energy in the 2nd quarter valued at $2,484,000. Millennium Management LLC purchased a new position in CVR Energy in the 2nd quarter valued at $2,889,000. Finally, Caxton Associates LP purchased a new stake in shares of CVR Energy during the first quarter worth $1,145,000. 98.88% of the stock is currently owned by institutional investors and hedge funds.

CVR Energy Price Performance

Shares of CVI opened at $18.46 on Friday. The firm has a 50-day simple moving average of $22.46 and a two-hundred day simple moving average of $25.55. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.33 and a quick ratio of 0.86. CVR Energy, Inc. has a 1-year low of $15.60 and a 1-year high of $38.07. The stock has a market cap of $1.86 billion, a PE ratio of 26.75 and a beta of 1.52.

CVR Energy (NYSE:CVI) last posted its earnings results on Monday, October 28th. The oil and gas company reported ($0.50) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the business posted $1.89 EPS. The firm’s revenue for the quarter 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 year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CVI shares. Scotiabank decreased their price target on shares of CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating on the stock in a research note on Thursday, October 10th. Tudor Pickering upgraded CVR Energy to a “strong sell” rating in a report on Monday, September 9th. UBS Group cut their price target on CVR Energy from $33.75 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. JPMorgan Chase & Co. lowered their price objective on CVR Energy from $26.00 to $23.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 2nd. Finally, Mizuho cut their target price on CVR Energy from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Five investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat, CVR Energy has an average rating of “Reduce” and a consensus target price of $24.75.

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.