CVR Energy Inc. (NYSE:CVI) Receives $31.75 Consensus Target Price from Brokerages

CVR Energy Inc. (NYSE:CVI) has been assigned an average recommendation of “Strong Sell” from the six analysts that are covering the company, MarketBeat reports. Four analysts have rated the stock with a sell recommendation and two have assigned a hold recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $32.50.

Several research analysts have recently weighed in on CVI shares. Scotiabank boosted their price objective on shares of CVR Energy from $25.00 to $28.00 and gave the company a “sector underperform” rating in a report on Wednesday, April 22nd. Weiss Ratings cut shares of CVR Energy from a “sell (d+)” rating to a “sell (d-)” rating in a report on Friday, May 15th. Raymond James Financial raised shares of CVR Energy from an “underperform” rating to a “market perform” rating in a report on Wednesday, March 25th. The Goldman Sachs Group assumed coverage on shares of CVR Energy in a report on Friday, April 10th. They set a “sell” rating and a $30.00 price objective for the company. Finally, Wall Street Zen upgraded shares of CVR Energy from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd.

CVR Energy Stock Up 2.1%

Shares of CVR Energy stock opened at $35.65 on Wednesday. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.89 and a current ratio of 1.44. The company has a 50-day simple moving average of $32.72 and a two-hundred day simple moving average of $29.23. CVR Energy has a 52-week low of $19.62 and a 52-week high of $41.67. The stock has a market capitalization of $3.58 billion, a PE ratio of -82.92 and a beta of 0.80.

CVR Energy (NYSE:CVI) last released its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.70). CVR Energy had a negative net margin of 0.56% and a negative return on equity of 22.36%. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the firm earned ($0.58) earnings per share. The firm’s revenue for the quarter was up 20.3% on a year-over-year basis. On average, analysts anticipate that CVR Energy will post 1.04 EPS for the current fiscal year.

CVR Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 18th. Investors of record on Monday, May 11th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.1%. The ex-dividend date was Monday, May 11th. CVR Energy’s payout ratio is -93.02%.

Institutional Trading of CVR Energy

Large investors have recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL bought a new stake in CVR Energy during the third quarter valued at approximately $22,217,000. Neo Ivy Capital Management grew its position in CVR Energy by 165.4% during the third quarter. Neo Ivy Capital Management now owns 65,340 shares of the oil and gas company’s stock valued at $2,384,000 after buying an additional 40,721 shares during the period. JPMorgan Chase & Co. grew its position in CVR Energy by 38.8% during the third quarter. JPMorgan Chase & Co. now owns 380,127 shares of the oil and gas company’s stock valued at $13,867,000 after buying an additional 106,350 shares during the period. Citigroup Inc. grew its position in CVR Energy by 95.6% during the third quarter. Citigroup Inc. now owns 391,985 shares of the oil and gas company’s stock valued at $14,300,000 after buying an additional 191,584 shares during the period. Finally, Allianz Asset Management GmbH grew its position in CVR Energy by 69.3% during the third quarter. Allianz Asset Management GmbH now owns 458,214 shares of the oil and gas company’s stock valued at $16,716,000 after buying an additional 187,620 shares during the period. 98.88% of the stock is currently owned by institutional investors.

CVR Energy Company Profile

CVR Energy, Inc is an independent downstream energy company engaged primarily in petroleum refining and nitrogen fertilizer production in the United States. Headquartered in Sugar Land, Texas, CVR Energy operates through two reportable segments—Petroleum Products and Nitrogen Fertilizers—leveraging its refining expertise and distribution network to serve both wholesale and retail markets across key regions in the U.S.

In its Petroleum Products segment, the company owns and operates the Coffeyville, Kansas refinery, which has the capability to process various grades of crude oil into gasoline, diesel, jet fuel and other refined products.