CVR Energy (NYSE:CVI) Downgraded by Zacks Research to Strong Sell

Zacks Research lowered shares of CVR Energy (NYSE:CVI) from a hold rating to a strong sell rating in a research report report published on Monday morning,Zacks.com reports.

A number of other research firms also recently issued reports on CVI. Raymond James Financial raised CVR Energy from an “underperform” rating to a “market perform” rating in a research report on Wednesday, March 25th. Tudor Pickering lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a report on Thursday, June 4th. UBS Group reaffirmed a “neutral” rating and set a $35.00 target price on shares of CVR Energy in a research report on Monday, June 29th. Mizuho reduced their price target on CVR Energy from $35.00 to $28.00 and set an “underperform” rating for the company in a research report on Tuesday. Finally, Scotiabank raised their price objective on CVR Energy from $25.00 to $28.00 and gave the company a “sector underperform” rating in a research report on Wednesday, April 22nd. Two research analysts have rated the stock with a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Strong Sell” and a consensus target price of $30.25.

CVR Energy Stock Performance

Shares of CVR Energy stock opened at $28.63 on Monday. CVR Energy has a 52 week low of $19.62 and a 52 week high of $41.67. The company has a market capitalization of $2.88 billion, a PE ratio of -66.58 and a beta of 0.83. The stock’s fifty day moving average is $31.42 and its two-hundred day moving average is $28.45. The company has a quick ratio of 0.89, a current ratio of 1.44 and a debt-to-equity ratio of 2.41.

CVR Energy (NYSE:CVI) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported ($1.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.70). The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.73 billion. CVR Energy had a negative return on equity of 22.36% and a negative net margin of 0.56%.The company’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.58) earnings per share. As a group, analysts expect that CVR Energy will post -0.16 earnings per share for the current year.

CVR Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 18th. Investors of record on Monday, May 11th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, May 11th. CVR Energy’s dividend payout ratio (DPR) is presently -93.02%.

Institutional Trading of CVR Energy

Several large investors have recently bought and sold shares of the stock. Tudor Investment Corp ET AL acquired a new position in shares of CVR Energy in the 3rd quarter valued at $22,217,000. UBS Group AG lifted its position in CVR Energy by 32.2% during the 4th quarter. UBS Group AG now owns 850,042 shares of the oil and gas company’s stock worth $21,625,000 after acquiring an additional 206,861 shares during the period. GSA Capital Partners LLP grew its stake in CVR Energy by 136.0% during the 4th quarter. GSA Capital Partners LLP now owns 51,991 shares of the oil and gas company’s stock valued at $1,323,000 after purchasing an additional 29,963 shares during the last quarter. Vanguard Group Inc. grew its stake in CVR Energy by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 3,705,809 shares of the oil and gas company’s stock valued at $94,276,000 after purchasing an additional 106,906 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. acquired a new position in shares of CVR Energy in the fourth quarter valued at about $1,068,000. Hedge funds and other institutional investors own 98.88% of the company’s stock.

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.