CVR Energy, Inc. (NYSE:CVI) Receives $23.00 Average PT from Brokerages

CVR Energy, Inc. (NYSE:CVI) has been given an average recommendation of “Strong Sell” by the seven analysts that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $23.00.

Several research analysts recently issued reports on CVI shares. JPMorgan Chase & Co. cut their price objective on CVR Energy from $26.00 to $23.00 and set an “underweight” rating for the company in a research report on Wednesday, October 2nd. The Goldman Sachs Group cut their price target on CVR Energy from $24.00 to $21.00 and set a “sell” rating for the company in a report on Friday, December 6th. Scotiabank decreased their price objective on CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating on the stock in a research note on Thursday, October 10th. Mizuho lifted their price objective on CVR Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Finally, StockNews.com lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a report on Saturday, December 14th.

CVR Energy Trading Up 0.5 %

Shares of CVI stock opened at $20.51 on Friday. CVR Energy has a fifty-two week low of $15.60 and a fifty-two week high of $38.07. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 1.84. The business has a fifty day simple moving average of $18.65 and a 200-day simple moving average of $22.26. The stock has a market cap of $2.06 billion, a P/E ratio of 29.72 and a beta of 1.58.

CVR Energy (NYSE:CVI) last posted its earnings results on Monday, October 28th. The oil and gas company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.41). CVR Energy had a net margin of 0.89% and a return on equity of 2.88%. The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter last year, the business posted $1.89 earnings per share. The business’s revenue was down 27.3% compared to the same quarter last year. On average, analysts forecast that CVR Energy will post -0.16 earnings per share for the current fiscal year.

Insider Activity at CVR Energy

In related news, major shareholder Carl C. Icahn purchased 878,212 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was purchased at an average price of $18.25 per share, with a total value of $16,027,369.00. Following the completion of the transaction, the insider now owns 67,570,593 shares of the company’s stock, valued at approximately $1,233,163,322.25. This trade represents a 1.32 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.01% of the company’s stock.

Institutional Trading of CVR Energy

Several institutional investors have recently made changes to their positions in the stock. Amalgamated Bank boosted its holdings in CVR Energy by 9.6% in the third quarter. Amalgamated Bank now owns 9,716 shares of the oil and gas company’s stock valued at $224,000 after acquiring an additional 849 shares during the last quarter. Quest Partners LLC raised its holdings in shares of CVR Energy by 47.3% in the 2nd quarter. Quest Partners LLC now owns 3,485 shares of the oil and gas company’s stock worth $93,000 after purchasing an additional 1,119 shares during the period. Headlands Technologies LLC raised its holdings in shares of CVR Energy by 820.5% in the 2nd quarter. Headlands Technologies LLC now owns 1,482 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 1,321 shares during the period. Mercer Global Advisors Inc. ADV lifted its stake in shares of CVR Energy by 27.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 7,799 shares of the oil and gas company’s stock valued at $209,000 after purchasing an additional 1,692 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in shares of CVR Energy by 12.2% during the 3rd quarter. Louisiana State Employees Retirement System now owns 16,500 shares of the oil and gas company’s stock worth $380,000 after purchasing an additional 1,800 shares during the period. 98.88% of the stock is owned by hedge funds and other 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.