CVR Energy (NYSE:CVI) Price Target Raised to $52.00

CVR Energy (NYSE:CVI) had its target price boosted by Mizuho from $29.00 to $52.00 in a report released on Thursday morning, Marketbeat Ratings reports. Mizuho currently has an underperform rating on the oil and gas company’s stock.

CVI has been the topic of several other reports. Weiss Ratings upgraded CVR Energy from a “sell (d-)” rating to a “hold (c)” rating in a research report on Tuesday, September 22nd. Wall Street Zen upgraded CVR Energy from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Zacks Research raised CVR Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, UBS Group increased their price target on shares of CVR Energy from $35.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, October 2nd. Four analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $45.75.

CVR Energy Stock Performance

NYSE CVI opened at $58.01 on Thursday. CVR Energy has a 52-week low of $19.62 and a 52-week high of $61.09. The company has a fifty day moving average of $44.79 and a 200-day moving average of $36.51. The company has a market capitalization of $5.83 billion, a P/E ratio of 85.30 and a beta of 0.90. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.92 and a current ratio of 1.42.

CVR Energy (NYSE:CVI) last released its earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. CVR Energy had a negative return on equity of 15.21% and a net margin of 0.81%. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter in the prior year, the firm earned ($0.23) earnings per share. The firm’s revenue was up 55.5% on a year-over-year basis. As a group, equities research analysts predict that CVR Energy will post 1.56 EPS for the current fiscal year.

CVR Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 10th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, August 10th. CVR Energy’s payout ratio is 58.82%.

Hedge Funds Weigh In On CVR Energy

Several institutional investors and hedge funds have recently bought and sold shares of CVI. Farther Finance Advisors LLC lifted its position in CVR Energy by 197.2% in the third quarter. Farther Finance Advisors LLC now owns 1,153 shares of the oil and gas company’s stock valued at $59,000 after purchasing an additional 765 shares during the last quarter. Congress Asset Management Co. increased its stake in shares of CVR Energy by 20.7% in the third quarter. Congress Asset Management Co. now owns 110,723 shares of the oil and gas company’s stock worth $5,646,000 after buying an additional 18,966 shares during the period. CX Institutional increased its stake in shares of CVR Energy by 5,362.5% in the third quarter. CX Institutional now owns 1,311 shares of the oil and gas company’s stock worth $67,000 after buying an additional 1,287 shares during the period. State Street Corp raised its holdings in CVR Energy by 11.0% during the 2nd quarter. State Street Corp now owns 2,153,498 shares of the oil and gas company’s stock valued at $59,315,000 after buying an additional 213,829 shares during the last quarter. Finally, WINTON GROUP Ltd boosted its position in CVR Energy by 357.8% during the 2nd quarter. WINTON GROUP Ltd now owns 164,204 shares of the oil and gas company’s stock valued at $4,522,000 after buying an additional 128,339 shares during the period. 98.88% of the stock is currently owned by institutional investors.

About CVR Energy

CVR Energy, Inc is a diversified energy company engaged primarily in petroleum refining and nitrogen fertilizer production. Headquartered in Sugar Land, Texas, the company operates through subsidiaries that serve customers in the United States, with activities concentrated in the Midcontinent region.

Through its refining operations, CVR Energy processes crude oil into transportation fuels and other refined products, including gasoline, diesel fuel, jet fuel and asphalt. Its refineries are located in Coffeyville, Kansas, and Wynnewood, Oklahoma, and are supported by related logistics, storage and transportation assets.

CVR Energy also owns and operates nitrogen fertilizer facilities through CVR Partners, LP.