CVR Energy (NYSE:CVI) Price Target Cut to $23.00 by Analysts at JPMorgan Chase & Co.

CVR Energy (NYSE:CVI) had its target price reduced by stock analysts at JPMorgan Chase & Co. from $26.00 to $23.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “underweight” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 2.54% from the stock’s previous close.

CVI has been the subject of several other reports. Scotiabank increased their price objective on CVR Energy from $24.00 to $25.00 and gave the stock a “sector underperform” rating in a research note on Wednesday, July 31st. StockNews.com cut shares of CVR Energy from a “buy” rating to a “hold” rating in a report on Sunday, June 16th. Tudor Pickering upgraded CVR Energy to a “strong sell” rating in a report on Monday, September 9th. Mizuho lowered their target price on CVR Energy from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Finally, Tudor, Pickering, Holt & Co. downgraded CVR Energy from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $25.75.

CVR Energy Price Performance

Shares of CVI stock traded up $0.10 during midday trading on Wednesday, reaching $23.60. 272,396 shares of the company were exchanged, compared to its average volume of 1,043,668. The company’s 50 day moving average price is $24.59 and its two-hundred day moving average price is $28.08. The company has a market cap of $2.37 billion, a P/E ratio of 3.62 and a beta of 1.49. CVR Energy has a 12 month low of $21.05 and a 12 month high of $38.07. 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 issued its earnings results on Monday, July 29th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.39. The business had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.80 billion. CVR Energy had a return on equity of 25.00% and a net margin of 6.39%. The company’s quarterly revenue was down 12.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.64 EPS. On average, sell-side analysts expect that CVR Energy will post 0.5 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp acquired a new position in CVR Energy during the fourth quarter valued at approximately $33,000. Headlands Technologies LLC boosted its holdings in shares of CVR Energy by 820.5% during the 2nd quarter. Headlands Technologies LLC now owns 1,482 shares of the oil and gas company’s stock worth $40,000 after buying an additional 1,321 shares during the period. Future Financial Wealth Managment LLC acquired a new position in CVR Energy in the 1st quarter valued at $71,000. Covestor Ltd raised its holdings in CVR Energy by 45,560.0% in the 1st quarter. Covestor Ltd now owns 2,283 shares of the oil and gas company’s stock worth $81,000 after acquiring an additional 2,278 shares during the period. Finally, Scarborough Advisors LLC acquired a new position in CVR Energy during the 4th quarter worth $89,000. 98.88% of the stock is owned by institutional investors.

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.