Vestcor Inc Acquires 19,400 Shares of CVR Energy, Inc. (NYSE:CVI)

Vestcor Inc boosted its stake in shares of CVR Energy, Inc. (NYSE:CVI) by 401.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 24,233 shares of the oil and gas company’s stock after purchasing an additional 19,400 shares during the period. Vestcor Inc’s holdings in CVR Energy were worth $558,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its position in shares of CVR Energy by 18.1% during the 3rd quarter. State Street Corp now owns 2,075,058 shares of the oil and gas company’s stock valued at $47,789,000 after purchasing an additional 317,475 shares during the last quarter. Dimensional Fund Advisors LP increased its position in CVR Energy by 2.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,072,334 shares of the oil and gas company’s stock valued at $55,476,000 after acquiring an additional 44,636 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of CVR Energy by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 975,323 shares of the oil and gas company’s stock valued at $26,109,000 after acquiring an additional 3,134 shares during the period. SIR Capital Management L.P. bought a new stake in shares of CVR Energy in the 2nd quarter worth about $17,907,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of CVR Energy by 14.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 639,138 shares of the oil and gas company’s stock worth $14,719,000 after purchasing an additional 81,590 shares during the period. 98.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CVI. JPMorgan Chase & Co. decreased their price objective on shares of CVR Energy from $26.00 to $23.00 and set an “underweight” rating for the company in a research note on Wednesday, October 2nd. Mizuho decreased their price target 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. Tudor, Pickering, Holt & Co. downgraded CVR Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Scotiabank decreased their target price on CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating for the company in a research report on Thursday, October 10th. Finally, StockNews.com cut shares of CVR Energy from a “hold” rating to a “sell” rating in a report on Saturday. Six investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $24.00.

CVR Energy Stock Performance

CVI stock opened at $18.91 on Friday. CVR Energy, Inc. has a 1-year low of $15.60 and a 1-year high of $38.07. The business has a 50-day moving average price of $20.30 and a 200 day moving average price of $23.60. The company has a market capitalization of $1.90 billion, a P/E ratio of 27.41 and a beta of 1.57. 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 (NYSE:CVI) last announced its quarterly 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). The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.91 billion. CVR Energy had a return on equity of 2.88% and a net margin of 0.89%. CVR Energy’s revenue for the quarter was down 27.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.89 EPS. As a group, equities research analysts forecast that CVR Energy, Inc. will post -0.12 EPS for the current fiscal 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.