Zacks Investment Research Upgrades CVR Energy (NYSE:CVI) to “Buy”

CVR Energy (NYSE:CVIGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, reports. The brokerage currently has a $27.00 price objective on the oil and gas company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 9.67% from the company’s current price.

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. “

A number of other research firms have also issued reports on CVI. Scotiabank upgraded shares of CVR Energy from a “sector underperform” rating to a “sector perform” rating and raised their target price for the company from $12.00 to $20.00 in a research note on Thursday, January 13th. began coverage on shares of CVR Energy in a report on Thursday, March 31st. They issued a “hold” rating for the company. Wolfe Research raised shares of CVR Energy from a “peer perform” rating to an “outperform” rating and set a $25.00 price objective for the company in a report on Friday, January 7th. Finally, Credit Suisse Group raised their price objective on shares of CVR Energy from $21.00 to $26.00 and gave the stock a “neutral” rating in a report on Monday, March 14th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $21.11.

CVI stock traded down $0.84 on Tuesday, hitting $24.62. The company’s stock had a trading volume of 571,087 shares, compared to its average volume of 745,507. The firm’s 50 day simple moving average is $22.92. CVR Energy has a 1 year low of $11.22 and a 1 year high of $29.26. The stock has a market capitalization of $2.48 billion, a PE ratio of 102.58 and a beta of 1.79. The company has a current ratio of 1.18, a quick ratio of 0.77 and a debt-to-equity ratio of 2.15.

CVR Energy (NYSE:CVIGet Rating) last posted its quarterly earnings data on Tuesday, February 22nd. The oil and gas company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.25). The firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $1.79 billion. CVR Energy had a net margin of 0.35% and a negative return on equity of 24.83%. During the same quarter in the prior year, the business earned ($1.18) EPS. Analysts predict that CVR Energy will post 1.15 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in CVI. Dark Forest Capital Management LP bought a new position in shares of CVR Energy in the third quarter worth about $31,000. Future Financial Wealth Managment LLC bought a new position in CVR Energy in the 4th quarter valued at approximately $36,000. Exchange Traded Concepts LLC bought a new position in CVR Energy in the 1st quarter valued at approximately $36,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in CVR Energy in the 4th quarter valued at approximately $39,000. Finally, Allspring Global Investments Holdings LLC bought a new position in CVR Energy in the 4th quarter valued at approximately $68,000. Institutional investors and hedge funds 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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