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 report published on Friday morning.

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

CVR Energy Stock Performance

Shares of CVI stock opened at $29.49 on Friday. The stock has a fifty day moving average price of $34.13 and a 200 day moving average price of $32.74. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.94 and a current ratio of 1.49. The stock has a market cap of $2.96 billion, a PE ratio of 4.52 and a beta of 1.59. CVR Energy has a 1 year low of $22.60 and a 1 year high of $39.36.

CVR Energy (NYSE:CVI) last released its quarterly earnings results on Monday, April 29th. The oil and gas company reported $0.04 earnings per share (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 firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the firm earned $1.44 EPS. The company’s quarterly revenue was down 18.5% compared to the same quarter last year. Sell-side analysts forecast that CVR Energy will post 2.4 earnings per share for the current fiscal 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 given a dividend of $0.50 per share. 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 (DPR) is presently 30.67%.

Hedge Funds Weigh In On CVR Energy

Large investors have recently modified their holdings of the company. Jones Financial Companies Lllp purchased a new stake in CVR Energy during the fourth quarter worth approximately $33,000. Future Financial Wealth Managment LLC purchased a new stake in CVR Energy during the 1st quarter worth $71,000. Scarborough Advisors LLC acquired a new stake in CVR Energy in the 4th quarter valued at $89,000. TFO Wealth Partners LLC increased its holdings in CVR Energy by 246,550.0% in the 4th quarter. TFO Wealth Partners LLC now owns 4,933 shares of the oil and gas company’s stock valued at $149,000 after purchasing an additional 4,931 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of CVR Energy by 54.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,704 shares of the oil and gas company’s stock worth $194,000 after purchasing an additional 2,008 shares in the last quarter. 98.88% of the stock is currently owned by hedge funds and other institutional investors.

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.