Highland Capital Management LLC Purchases Shares of 14,312 CVR Energy Inc. $CVI

Highland Capital Management LLC acquired a new position in CVR Energy Inc. (NYSE:CVI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,312 shares of the oil and gas company’s stock, valued at approximately $384,000.

Several other institutional investors have also recently made changes to their positions in the company. Matrix Trust Co acquired a new position in shares of CVR Energy in the 2nd quarter valued at $26,000. Harbor Capital Advisors Inc. increased its holdings in CVR Energy by 65.5% in the first quarter. Harbor Capital Advisors Inc. now owns 1,633 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 646 shares in the last quarter. Caitong International Asset Management Co. Ltd raised 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 worth $38,000 after acquiring an additional 1,772 shares during the period. GAMMA Investing LLC raised its position in shares of CVR Energy by 106.6% in the first quarter. GAMMA Investing LLC now owns 2,159 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 1,114 shares during the period. Finally, CWM LLC boosted 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 worth $52,000 after acquiring an additional 2,014 shares in the last quarter. 98.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on CVI. UBS Group set a $37.00 price target on CVR Energy in a research note on Sunday, September 28th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CVR Energy in a research note on Saturday, September 27th. Zacks Research upgraded CVR Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 16th. Raymond James Financial cut shares of CVR Energy from a “market perform” rating to an “underperform” rating in a research report on Tuesday, July 15th. Finally, Scotiabank lifted 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 report on Friday, July 11th. One investment analyst has rated the stock with a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, CVR Energy presently has an average rating of “Strong Sell” and an average target price of $26.75.

CVR Energy Trading Down 0.5%

Shares of CVI stock opened at $37.00 on Monday. CVR Energy Inc. has a fifty-two week low of $15.10 and a fifty-two week high of $38.30. 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 stock’s fifty day moving average is $30.51 and its two-hundred day moving average is $25.84. The firm has a market capitalization of $3.72 billion, a P/E ratio of -11.15 and a beta of 1.25.

CVR Energy (NYSE:CVI) last issued its earnings results on Wednesday, July 30th. The oil and gas company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.15). The business had revenue of $1.76 billion during the quarter, compared to analyst estimates 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 quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the company earned $0.09 earnings per share. Research analysts expect that CVR Energy Inc. will post -0.12 earnings per share 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.