CVR Energy (NYSE:CVI) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of CVR Energy (NYSE:CVI) from a hold rating to a buy rating in a research report report published on Friday morning.

Separately, Scotiabank lifted their price target on CVR Energy from $25.00 to $29.00 and gave the company a sector underperform rating in a research note on Thursday, April 11th.

CVR Energy Stock Up 0.4 %

CVR Energy stock opened at $29.61 on Friday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.49 and a quick ratio of 0.91. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 4.54 and a beta of 1.59. CVR Energy has a 1-year low of $22.60 and a 1-year high of $39.36. The business has a fifty day moving average price of $34.13 and a 200-day moving average price of $32.73.

CVR Energy (NYSE:CVI) last issued its quarterly earnings results on Monday, April 29th. The oil and gas company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.09). The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.96 billion. CVR Energy had a return on equity of 40.14% and a net margin of 7.44%. The business’s revenue was down 18.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.44 EPS. Equities research analysts forecast that CVR Energy will post 2.4 EPS for the current fiscal year.

CVR Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 6.75%. The ex-dividend date is Friday, May 10th. CVR Energy’s dividend payout ratio is currently 30.67%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CVI. Jones Financial Companies Lllp purchased a new stake in CVR Energy in the fourth quarter valued at approximately $33,000. Future Financial Wealth Managment LLC acquired a new stake in shares of CVR Energy during the first quarter worth about $71,000. Scarborough Advisors LLC acquired a new stake in shares of CVR Energy during the fourth quarter worth about $89,000. TFO Wealth Partners LLC boosted its stake in shares of CVR Energy by 246,550.0% during the fourth quarter. TFO Wealth Partners LLC now owns 4,933 shares of the oil and gas company’s stock worth $149,000 after buying an additional 4,931 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in CVR Energy by 54.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,704 shares of the oil and gas company’s stock valued at $194,000 after purchasing an additional 2,008 shares during the period. 98.88% of the stock is currently owned by institutional investors and hedge funds.

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.