CF Industries (CF)

• Market cap: $14.2B
• 1 day: -2.94%
• 5 days: -4.76%
• 1 month: -16.83%
• 3 months: -14.06%
• 6 months: -2.78%
• Year to date: -9.24%
• 1 year: 0.17%
• 5 years: 97.97%
• 10 years: 24.56%
• Sector: Materials
• Industry: Agricultural Chemicals

About: CF Industries is a leading producer and distributor of nitrogen, which is primarily used in fertilizers. The company operates nitrogen manufacturing plants primarily in North America. CF also produces nitrogen in the United Kingdom and holds a joint venture interest in a nitrogen production facility in Trinidad and Tobago. CF makes nitrogen primarily using low-cost US natural gas as its feedstock, making CF one of the lowest-cost nitrogen producers globally. The company is also investing in carbon-free blue and green ammonia, which can be used an alternative fuel to hydrogen or as a means to transport hydrogen.

Employees: 2,700

Fund manager confidence

Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)

117% more first-time investments, than exits

New positions opened: 126 | Existing positions closed: 58

40% more funds holding in top 10

Funds holding in top 10: 5 [Q3] → 7 (+2) [Q4]

7% more funds holding

Funds holding: 693 [Q3] → 742 (+49) [Q4]

4.26% more ownership

Funds ownership: 89.89% [Q3] → 94.16% (+4.26%) [Q4]

3% more repeat investments, than reductions

Existing positions increased: 267 | Existing positions reduced: 259

1% more capital invested

Capital invested by funds: $13.9B [Q3] → $14B (+$98.3M) [Q4]

46% less call options, than puts

Call options by funds: $277M | Put options by funds: $511M

Research analyst outlook

8 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $75 4% downside
• Avg. target: $96 24% upside
• High target: $115 48% upside

8 analyst ratings

• positive: 2 25%
• neutral: 4 50%
• negative: 2 25%

UBS John Roberts 60% 1-year accuracy 21 / 35 met price target	16% upside $90	Neutral Maintained	20 Feb 2025
UBS John Roberts 63% 1-year accuracy 22 / 35 met price target	18% upside $92	Neutral Maintained	28 Jan 2025
Oppenheimer Kristen Owen 48% 1-year accuracy 19 / 40 met price target	42% upside $111	Outperform Maintained	28 Jan 2025
Piper Sandler Charles Neivert 39% 1-year accuracy 17 / 44 met price target	48% upside $115	Overweight Maintained	27 Jan 2025
Scotiabank Ben Isaacson 23% 1-year accuracy 3 / 13 met price target	13% upside $88	Sector Underperform Downgraded	24 Jan 2025