Thomist Capital Management LP Makes New Investment in CVR Energy, Inc. (NYSE:CVI)

Thomist Capital Management LP bought a new position in shares of CVR Energy, Inc. (NYSE:CVI) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 42,100 shares of the oil and gas company’s stock, valued at approximately $781,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in CVR Energy by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,443 shares of the oil and gas company’s stock worth $364,000 after acquiring an additional 683 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in CVR Energy by 55.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,052 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 731 shares during the last quarter. IHT Wealth Management LLC grew its holdings in CVR Energy by 14.3% during the 4th quarter. IHT Wealth Management LLC now owns 10,176 shares of the oil and gas company’s stock worth $191,000 after acquiring an additional 1,275 shares during the last quarter. New York State Teachers Retirement System grew its holdings in CVR Energy by 11.3% during the 4th quarter. New York State Teachers Retirement System now owns 13,812 shares of the oil and gas company’s stock worth $259,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in CVR Energy by 1.3% during the 4th quarter. Rhumbline Advisers now owns 115,064 shares of the oil and gas company’s stock worth $2,156,000 after acquiring an additional 1,479 shares during the last quarter. 98.88% of the stock is owned by institutional investors.

CVR Energy Stock Down 1.5%

Shares of NYSE CVI opened at $24.00 on Friday. The firm has a market cap of $2.41 billion, a PE ratio of 400.07 and a beta of 1.02. CVR Energy, Inc. has a 12-month low of $15.10 and a 12-month high of $30.44. The company’s fifty day simple moving average is $19.45 and its 200 day simple moving average is $19.09. The company has a quick ratio of 0.86, a current ratio of 1.66 and a debt-to-equity ratio of 2.15.

CVR Energy (NYSE:CVI) last issued its earnings results on Monday, April 28th. The oil and gas company reported ($0.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.90) by $0.32. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.61 billion. CVR Energy had a net margin of 0.09% and a negative return on equity of 5.12%. CVR Energy’s revenue was down 11.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.04 earnings per share. As a group, sell-side analysts forecast that CVR Energy, Inc. will post -0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Carl C. Icahn bought 244,200 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The shares were acquired at an average cost of $16.11 per share, with a total value of $3,934,062.00. Following the completion of the purchase, the insider now directly owns 69,107,178 shares in the company, valued at $1,113,316,637.58. The trade was a 0.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have purchased a total of 1,641,760 shares of company stock valued at $28,641,557 over the last ninety days. 0.01% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Mizuho boosted their target price on shares of CVR Energy from $21.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. StockNews.com lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, April 30th. The Goldman Sachs Group reduced their price objective on shares of CVR Energy from $19.00 to $16.00 and set a “sell” rating on the stock in a research note on Thursday, March 27th. Finally, Scotiabank reaffirmed an “underperform” rating on shares of CVR Energy in a research note on Monday, May 5th. Six investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $23.00.

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.