Tudor, Pickering, Holt & Co. Downgrades CVR Energy (NYSE:CVI) to Sell

CVR Energy (NYSE:CVI) was downgraded by analysts at Tudor, Pickering, Holt & Co. from a “hold” rating to a “sell” rating in a research note issued to investors on Monday, Marketbeat.com reports.

Several other research firms also recently commented on CVI. StockNews.com downgraded CVR Energy from a “buy” rating to a “hold” rating in a report on Sunday, June 16th. UBS Group cut 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 report on Tuesday, August 13th. JPMorgan Chase & Co. decreased their target price on shares of CVR Energy from $30.00 to $26.00 and set an “underweight” rating for the company in a report on Tuesday, July 2nd. Mizuho initiated coverage on shares of CVR Energy in a report on Wednesday, July 17th. They set a “neutral” rating and a $27.00 price target on the stock. Finally, Scotiabank raised their price target on shares of CVR Energy from $24.00 to $25.00 and gave the company a “sector underperform” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat, CVR Energy has a consensus rating of “Hold” and an average price target of $27.00.

CVR Energy Stock Performance

Shares of CVR Energy stock opened at $21.84 on Monday. CVR Energy has a 12 month low of $21.66 and a 12 month high of $38.07. The firm has a market capitalization of $2.20 billion, a P/E ratio of 3.35 and a beta of 1.49. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 1.51. The business has a fifty day simple moving average of $25.21 and a two-hundred day simple moving average of $29.17.

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

Hedge Funds Weigh In On CVR Energy

Several large investors have recently added to or reduced their stakes in the company. Truist Financial Corp boosted its stake in shares of CVR Energy by 19.3% in the fourth quarter. Truist Financial Corp now owns 9,734 shares of the oil and gas company’s stock worth $295,000 after acquiring an additional 1,574 shares during the period. Swiss National Bank raised its position in shares of CVR Energy by 4.7% during the fourth quarter. Swiss National Bank now owns 69,400 shares of the oil and gas company’s stock valued at $2,103,000 after buying an additional 3,100 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of CVR Energy by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 554,792 shares of the oil and gas company’s stock worth $16,810,000 after buying an additional 11,614 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of CVR Energy by 119.8% during the fourth quarter. Teacher Retirement System of Texas now owns 23,831 shares of the oil and gas company’s stock worth $722,000 after acquiring an additional 12,991 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in CVR Energy by 29.0% during the fourth quarter. BNP Paribas Financial Markets now owns 123,088 shares of the oil and gas company’s stock valued at $3,730,000 after acquiring an additional 27,676 shares in the last quarter. Hedge funds and other institutional investors own 98.88% of the company’s stock.

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.