CVR Energy (NYSE:CVI) Raised to “Buy” at Wall Street Zen

CVR Energy (NYSE:CVI) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Several other equities research analysts have also weighed in on the company. The Goldman Sachs Group began coverage on CVR Energy in a research report on Friday, April 10th. They issued a “sell” rating and a $30.00 target price on the stock. Scotiabank boosted their price target 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. Mizuho lowered their price target on shares of CVR Energy from $35.00 to $28.00 and set an “underperform” rating for the company in a research report on Tuesday, July 7th. Tudor Pickering cut shares of CVR Energy from a “hold” rating to a “sell” rating in a report on Thursday, June 4th. Finally, Weiss Ratings downgraded shares of CVR Energy from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Friday, May 15th. Two investment analysts have rated the stock with a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Strong Sell” and an average target price of $30.25.

CVR Energy Stock Performance

Shares of NYSE CVI opened at $35.51 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 2.38. The firm’s 50-day moving average price is $31.55 and its two-hundred day moving average price is $29.52. 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 $3.57 billion, a P/E ratio of 52.22 and a beta of 0.83.

CVR Energy (NYSE:CVI) last announced its quarterly earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.08. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.22 billion. CVR Energy had a negative return on equity of 15.21% and a net margin of 0.81%.The business’s quarterly revenue was up 55.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.23) EPS. As a group, sell-side analysts forecast that CVR Energy will post -0.21 earnings per share for the current year.

Institutional Investors Weigh In On CVR Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada grew its position in CVR Energy by 67.2% in the 1st quarter. Royal Bank of Canada now owns 14,904 shares of the oil and gas company’s stock valued at $289,000 after buying an additional 5,992 shares in the last quarter. AQR Capital Management LLC bought a new stake in shares of CVR Energy during the 1st quarter worth about $611,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of CVR Energy by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,301 shares of the oil and gas company’s stock worth $394,000 after buying an additional 858 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of CVR Energy by 14.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 496,650 shares of the oil and gas company’s stock worth $9,635,000 after acquiring an additional 63,909 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of CVR Energy by 34.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 273,777 shares of the oil and gas company’s stock worth $7,351,000 after acquiring an additional 69,726 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.