FY2024 Earnings Estimate for CVR Energy Issued By Scotiabank

CVR Energy, Inc. (NYSE:CVI) – Investment analysts at Scotiabank reduced their FY2024 earnings estimates for shares of CVR Energy in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst P. Cheng now forecasts that the oil and gas company will post earnings of ($0.55) per share for the year, down from their previous forecast of $1.05. Scotiabank has a “Sector Underperform” rating and a $21.00 price objective on the stock. The consensus estimate for CVR Energy’s current full-year earnings is ($0.12) per share. Scotiabank also issued estimates for CVR Energy’s FY2025 earnings at ($0.10) EPS and FY2026 earnings at $0.40 EPS.

CVR Energy (NYSE:CVI) last announced its earnings results on Monday, October 28th. The oil and gas company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.41). CVR Energy had a return on equity of 2.88% and a net margin of 0.89%. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the previous year, the firm earned $1.89 earnings per share. The firm’s revenue was down 27.3% compared to the same quarter last year.

A number of other analysts have also commented on CVI. Mizuho lifted their target price on shares of CVR Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. JPMorgan Chase & Co. reduced their target price on shares of CVR Energy from $26.00 to $23.00 and set an “underweight” rating for the company in a research note on Wednesday, October 2nd. The Goldman Sachs Group reduced their price target on CVR Energy from $24.00 to $21.00 and set a “sell” rating for the company in a research report on Friday, December 6th. Finally, StockNews.com cut CVR Energy from a “hold” rating to a “sell” rating in a report on Saturday, December 14th. Six equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $23.00.

CVR Energy Stock Up 2.0 %

NYSE CVI opened at $18.97 on Monday. The stock has a fifty day moving average of $18.57 and a 200-day moving average of $22.31. The stock has a market capitalization of $1.91 billion, a P/E ratio of 27.49 and a beta of 1.58. CVR Energy has a 52 week low of $15.60 and a 52 week high of $38.07. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.86 and a current ratio of 1.33.

Insider Transactions at CVR Energy

In other news, major shareholder Carl C. Icahn acquired 878,212 shares of CVR Energy stock in a transaction dated Wednesday, January 8th. The shares were bought at an average cost of $18.25 per share, with a total value of $16,027,369.00. Following the purchase, the insider now owns 67,570,593 shares in the company, valued at $1,233,163,322.25. This trade represents a 1.32 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.01% of the company’s stock.

Institutional Investors Weigh In On CVR Energy

A number of large investors have recently bought and sold shares of CVI. State Street Corp grew its holdings in CVR Energy by 18.1% during the third quarter. State Street Corp now owns 2,075,058 shares of the oil and gas company’s stock worth $47,789,000 after buying an additional 317,475 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in CVR Energy by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,072,334 shares of the oil and gas company’s stock valued at $55,476,000 after buying an additional 44,636 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of CVR Energy by 14.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 639,138 shares of the oil and gas company’s stock valued at $14,719,000 after acquiring an additional 81,590 shares in the last quarter. American Century Companies Inc. raised its stake in shares of CVR Energy by 60.3% during the 2nd quarter. American Century Companies Inc. now owns 407,819 shares of the oil and gas company’s stock worth $10,917,000 after purchasing an additional 153,396 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in shares of CVR Energy by 37.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 352,075 shares of the oil and gas company’s stock worth $8,108,000 after buying an additional 95,371 shares during the last quarter. 98.88% of the stock is currently owned by institutional investors and hedge funds.

CVR Energy Company Profile

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.