CVR Energy, Inc. (NYSE:CVI) Receives $27.00 Consensus Price Target from Brokerages

CVR Energy, Inc. (NYSE:CVI) has received an average rating of “Strong Sell” from the six ratings firms that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation and two have assigned a hold recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $27.00.

A number of analysts have recently issued reports on the stock. UBS Group dropped their price objective on shares of CVR Energy from $33.75 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. JPMorgan Chase & Co. dropped their target price on CVR Energy from $30.00 to $26.00 and set an “underweight” rating on the stock in a report on Tuesday, July 2nd. StockNews.com cut shares of CVR Energy from a “buy” rating to a “hold” rating in a research report on Sunday, June 16th. Tudor Pickering upgraded shares of CVR Energy to a “strong sell” rating in a research report on Monday, September 9th. Finally, Tudor, Pickering, Holt & Co. downgraded shares of CVR Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th.

CVR Energy Price Performance

Shares of NYSE:CVI opened at $22.15 on Monday. The business’s fifty day moving average price is $24.93 and its two-hundred day moving average price is $28.98. CVR Energy has a one year low of $21.05 and a one year high of $38.07. The stock has a market cap of $2.23 billion, a PE ratio of 3.40 and a beta of 1.49. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.93 and a current ratio of 1.46.

CVR Energy (NYSE:CVI) last posted its quarterly earnings results on Monday, July 29th. The oil and gas company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.30) by $0.39. CVR Energy had a return on equity of 25.00% and a net margin of 6.39%. The company had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the business earned $1.64 EPS. The firm’s revenue was down 12.0% on a year-over-year basis. On average, analysts forecast that CVR Energy will post 0.55 EPS for the current fiscal year.

CVR Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.00 annualized dividend and a yield of 9.03%. CVR Energy’s payout ratio is presently 30.67%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. SIR Capital Management L.P. purchased a new stake in shares of CVR Energy in the 2nd quarter valued at approximately $17,907,000. Vanguard Group Inc. lifted its holdings in shares of CVR Energy by 12.1% in the fourth quarter. Vanguard Group Inc. now owns 3,934,944 shares of the oil and gas company’s stock valued at $119,229,000 after purchasing an additional 424,348 shares in the last quarter. Norges Bank acquired a new stake in shares of CVR Energy in the fourth quarter worth $11,567,000. American Century Companies Inc. grew its holdings in shares of CVR Energy by 60.3% during the second quarter. American Century Companies Inc. now owns 407,819 shares of the oil and gas company’s stock valued at $10,917,000 after buying an additional 153,396 shares in the last quarter. Finally, Denali Advisors LLC raised its position in CVR Energy by 323.6% during the second quarter. Denali Advisors LLC now owns 159,162 shares of the oil and gas company’s stock valued at $4,261,000 after buying an additional 121,590 shares during the period. 98.88% of the stock is currently owned by institutional investors and hedge funds.

About CVR Energy

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.