CVR Energy (NYSE:CVI) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of CVR Energy (NYSE:CVI) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

Separately, Scotiabank lifted their target price on CVR Energy from $25.00 to $29.00 and gave the company a sector underperform rating in a research report on Thursday, April 11th.

CVR Energy Stock Up 0.2 %

Shares of NYSE:CVI traded up $0.06 during mid-day trading on Friday, reaching $29.49. 1,374,061 shares of the stock were exchanged, compared to its average volume of 850,797. CVR Energy has a one year low of $22.60 and a one year high of $39.36. The company has a quick ratio of 0.94, a current ratio of 1.49 and a debt-to-equity ratio of 1.48. The stock’s 50 day simple moving average is $34.13 and its 200-day simple moving average is $32.73. The company has a market cap of $2.96 billion, a P/E ratio of 4.52 and a beta of 1.59.

CVR Energy (NYSE:CVI) last announced its earnings results on Monday, April 29th. The oil and gas company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.09). CVR Energy had a return on equity of 40.14% and a net margin of 7.44%. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the previous year, the company posted $1.44 EPS. The business’s revenue for the quarter was down 18.5% compared to the same quarter last year. As a group, equities research analysts predict that CVR Energy will post 2.4 EPS for the current year.

CVR Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 6.78%. The ex-dividend date of this dividend is Friday, May 10th. CVR Energy’s dividend payout ratio is currently 30.67%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Denali Advisors LLC raised its stake in CVR Energy by 76,632.2% in the 4th quarter. Denali Advisors LLC now owns 45,272 shares of the oil and gas company’s stock worth $1,372,000 after purchasing an additional 45,213 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of CVR Energy by 3,191.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 32,458 shares of the oil and gas company’s stock worth $1,105,000 after buying an additional 31,472 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of CVR Energy by 57.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 924,541 shares of the oil and gas company’s stock worth $31,462,000 after buying an additional 338,393 shares during the last quarter. FCF Advisors LLC acquired a new stake in CVR Energy in the fourth quarter valued at about $830,000. Finally, Cambria Investment Management L.P. grew its position in CVR Energy by 8.5% in the third quarter. Cambria Investment Management L.P. now owns 390,857 shares of the oil and gas company’s stock valued at $13,301,000 after acquiring an additional 30,513 shares during the last quarter. 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.