Connor Clark & Lunn Investment Management Ltd. Takes $858,000 Position in CVR Energy Inc. $CVI
Connor Clark & Lunn Investment Management Ltd. acquired a new position in CVR Energy Inc. during the second quarter, purchasing 31,943 shares valued at approximately $858,000. Other institutional investors also adjusted their stakes in the company. Analysts have mixed ratings on CVR Energy, with some upgrading to 'hold' and others maintaining 'sell' ratings. CVR Energy's stock opened at $36.84, with a market cap of $3.70 billion. The company operates in petroleum refining and nitrogen fertilizer manufacturing.
Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of CVR Energy Inc. (NYSE:CVI - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 31,943 shares of the oil and gas company's stock, valued at approximately $858,000.
Several other institutional investors have also added to or reduced their stakes in the company. Matrix Trust Co bought a new position in CVR Energy during the 2nd quarter worth $26,000. Caitong International Asset Management Co. Ltd boosted its position in shares of CVR Energy by 1,030.2% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,944 shares of the oil and gas company's stock valued at $38,000 after acquiring an additional 1,772 shares during the period. CWM LLC grew its stake in shares of CVR Energy by 304.2% in the first quarter. CWM LLC now owns 2,676 shares of the oil and gas company's stock valued at $52,000 after acquiring an additional 2,014 shares in the last quarter. AlphaQuest LLC increased its position in CVR Energy by 600.3% during the second quarter. AlphaQuest LLC now owns 5,287 shares of the oil and gas company's stock worth $142,000 after acquiring an additional 4,532 shares during the period. Finally, State of Wyoming acquired a new stake in CVR Energy in the 1st quarter worth about $233,000. 98.88% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on CVI. Mizuho restated an "underperform" rating and set a $29.00 target price (up previously from $27.00) on shares of CVR Energy in a research report on Monday, September 15th. Wall Street Zen upgraded CVR Energy from a "sell" rating to a "hold" rating in a research note on Saturday, November 8th. Weiss Ratings restated a "hold (c)" rating on shares of CVR Energy in a research note on Thursday, November 13th. Zacks Research upgraded CVR Energy from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 16th. Finally, The Goldman Sachs Group increased their target price on CVR Energy from $19.00 to $25.00 and gave the stock a "sell" rating in a report on Wednesday, October 22nd. Two analysts have rated the stock with a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Strong Sell" and an average target price of $29.25.
View Our Latest Analysis on CVI
CVR Energy Trading Up 1.5%
Shares of CVI stock opened at $36.84 on Wednesday. CVR Energy Inc. has a fifty-two week low of $15.10 and a fifty-two week high of $41.67. The stock's fifty day moving average price is $35.77 and its two-hundred day moving average price is $29.94. The company has a debt-to-equity ratio of 2.78, a quick ratio of 0.75 and a current ratio of 1.17. The company has a market cap of $3.70 billion, a PE ratio of 22.46 and a beta of 1.21.
CVR Energy (NYSE:CVI - Get Free Report) last posted its quarterly earnings results on Tuesday, September 2nd. The oil and gas company reported ($0.23) EPS for the quarter. The business had revenue of $1.76 billion for the quarter. CVR Energy had a negative return on equity of 6.98% and a net margin of 2.26%. Equities analysts predict that CVR Energy Inc. will post -0.12 EPS for the current fiscal year.
CVR Energy Profile
(Free Report)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.
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