Scotiabank Has Lowered Expectations for CVR Energy (NYSE:CVI) Stock Price

CVR Energy (NYSE:CVI) had its price target dropped by analysts at Scotiabank from $22.00 to $16.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “sector underperform” rating on the oil and gas company’s stock. Scotiabank’s price target would suggest a potential downside of 9.71% from the company’s previous close.

Several other brokerages have also issued reports on CVI. Mizuho boosted their price objective on CVR Energy from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, April 1st. StockNews.com upgraded shares of CVR Energy from a “sell” rating to a “hold” rating in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group lowered their price objective on shares of CVR Energy from $19.00 to $16.00 and set a “sell” rating for the company in a research report on Thursday, March 27th. Five equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $21.20.

CVR Energy Trading Up 5.5 %

CVI opened at $17.72 on Friday. The firm’s fifty day moving average is $18.92 and its two-hundred day moving average is $19.75. The firm has a market cap of $1.78 billion, a PE ratio of 295.40 and a beta of 1.26. CVR Energy has a twelve month low of $15.10 and a twelve month high of $36.06. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.86 and a current ratio of 1.66.

CVR Energy (NYSE:CVI) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.12). The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.85 billion. CVR Energy had a negative return on equity of 5.12% and a net margin of 0.09%. Equities research analysts anticipate that CVR Energy will post -0.12 EPS for the current year.

Insider Transactions at CVR Energy

In other CVR Energy news, major shareholder Carl C. Icahn purchased 3,610 shares of the business’s stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $18.24 per share, with a total value of $65,846.40. Following the transaction, the insider now directly owns 67,574,203 shares of the company’s stock, valued at $1,232,553,462.72. This represents a 0.01 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders acquired 1,123,018 shares of company stock valued at $19,444,107 in the last ninety days. 0.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CVR Energy

Several hedge funds have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new position in CVR Energy during the third quarter valued at approximately $43,000. R Squared Ltd acquired a new position in shares of CVR Energy during the 4th quarter worth approximately $36,000. PNC Financial Services Group Inc. raised its stake in shares of CVR Energy by 55.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,052 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 731 shares in the last quarter. FMR LLC boosted its holdings in shares of CVR Energy by 103.4% in the 3rd quarter. FMR LLC now owns 4,031 shares of the oil and gas company’s stock valued at $93,000 after buying an additional 2,049 shares during the last quarter. Finally, IHT Wealth Management LLC grew its stake in shares of CVR Energy by 14.3% in the fourth quarter. IHT Wealth Management LLC now owns 10,176 shares of the oil and gas company’s stock valued at $191,000 after buying an additional 1,275 shares in the last quarter. 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.