Brokerages Set CVR Energy, Inc. (NYSE:CVI) Target Price at $23.00

Shares of CVR Energy, Inc. (NYSE:CVI) have been assigned a consensus rating of “Strong Sell” from the seven brokerages that are currently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a sell rating and two have issued a hold rating on 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.

A number of research analysts have issued reports on the company. Mizuho upped their price objective on CVR Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Scotiabank decreased their price objective on shares of CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating for the company in a report on Thursday, October 10th. Tudor Pickering raised shares of CVR Energy to a “strong sell” rating in a research report on Monday, September 9th. 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 report on Wednesday, October 2nd. Finally, Tudor, Pickering, Holt & Co. cut shares of CVR Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th.

Institutional Trading of CVR Energy

Institutional investors have recently modified their holdings of the business. State Street Corp raised its holdings in CVR Energy by 18.1% during the 3rd quarter. State Street Corp now owns 2,075,058 shares of the oil and gas company’s stock valued at $47,789,000 after acquiring an additional 317,475 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of CVR Energy by 2.2% during 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 purchasing an additional 44,636 shares during the period. Bank of New York Mellon Corp lifted its holdings in CVR Energy by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 975,323 shares of the oil and gas company’s stock worth $26,109,000 after purchasing an additional 3,134 shares in the last quarter. SIR Capital Management L.P. bought a new position in CVR Energy in the 2nd quarter worth about $17,907,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in CVR Energy by 14.6% during the 3rd 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 buying an additional 81,590 shares in the last quarter. 98.88% of the stock is currently owned by hedge funds and other institutional investors.

CVR Energy Stock Up 0.4 %

CVI opened at $18.16 on Wednesday. CVR Energy has a fifty-two week low of $15.60 and a fifty-two week high of $38.07. The firm has a market capitalization of $1.83 billion, a P/E ratio of 26.32 and a beta of 1.57. The company’s 50-day moving average is $19.43 and its 200 day moving average is $23.08. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.33 and a quick ratio of 0.86.

CVR Energy (NYSE:CVI) last posted 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). The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.91 billion. CVR Energy had a return on equity of 2.88% and a net margin of 0.89%. CVR Energy’s quarterly revenue was down 27.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.89 EPS. Research analysts expect that CVR Energy will post -0.12 earnings per share for the current fiscal year.

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.