CVR Energy (NYSE:CVI) Downgraded by Zacks Investment Research to Hold

CVR Energy (NYSE:CVIGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “Headquartered in Sugar Land, Texas, CVR ENERGY, INC. is an independent refiner and marketer of high value transportation fuels and, through a limited partnership, a producer of ammonia and urea ammonia nitrate fertilizers. CVR Energy’s petroleum business includes full-coking sour crude refinery in Coffeyville, Kan. In addition, CVR Energy’s supporting businesses include a crude oil gathering system serving central Kansas, northern Oklahoma and southwest Nebraska; storage and terminal facilities for asphalt and refined fuels in Phillipsburg, Kan.; and a rack marketing division supplying product to customers through tanker trucks and at throughput terminals. “

Several other research firms also recently weighed in on CVI. Wolfe Research upgraded CVR Energy from a “peer perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a research note on Friday, January 7th. Scotiabank upgraded CVR Energy from a “sector underperform” rating to a “sector perform” rating and upped their price target for the stock from $12.00 to $20.00 in a research note on Thursday, January 13th. Credit Suisse Group upped their price target on CVR Energy from $21.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, March 14th. Finally, StockNews.com initiated coverage on CVR Energy in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, CVR Energy currently has a consensus rating of “Hold” and an average price target of $20.67.

Shares of NYSE:CVI traded up $0.06 during trading on Tuesday, hitting $25.26. The stock had a trading volume of 407,027 shares, compared to its average volume of 770,316. CVR Energy has a 12 month low of $11.22 and a 12 month high of $26.99. The company has a market cap of $2.54 billion, a P/E ratio of 105.25 and a beta of 1.79. The company has a fifty day moving average of $21.90. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.18 and a quick ratio of 0.77.

CVR Energy (NYSE:CVIGet Rating) last announced its earnings results on Tuesday, February 22nd. The oil and gas company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.25). CVR Energy had a negative return on equity of 24.83% and a net margin of 0.35%. The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the prior year, the company posted ($1.18) EPS. As a group, equities analysts expect that CVR Energy will post 0.93 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Dark Forest Capital Management LP purchased a new position in shares of CVR Energy in the 3rd quarter worth $31,000. Future Financial Wealth Managment LLC purchased a new position in shares of CVR Energy in the 4th quarter worth $36,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of CVR Energy in the 4th quarter worth $39,000. Allspring Global Investments Holdings LLC purchased a new position in shares of CVR Energy in the 4th quarter worth $68,000. Finally, Royal Bank of Canada boosted its stake in shares of CVR Energy by 57.1% in the 2nd quarter. Royal Bank of Canada now owns 6,840 shares of the oil and gas company’s stock worth $122,000 after buying an additional 2,487 shares during the last quarter. Hedge funds and other institutional investors own 91.49% of the company’s stock.

About CVR Energy (Get Rating)

CVR Energy, Inc, together with its subsidiaries, engages in the petroleum refining and nitrogen fertilizer manufacturing activities in the United States. It operates in two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment refines and markets gasoline, diesel fuel, and other refined products.

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