CVR Energy (NYSE:CVI) Rating Lowered to “Sell” at StockNews.com

CVR Energy (NYSE:CVI) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

A number of other research firms also recently issued reports on CVI. The Goldman Sachs Group reduced their price target 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. Mizuho lifted their price objective on CVR Energy from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Tuesday, April 1st. Finally, Scotiabank lowered their target price on CVR Energy from $22.00 to $16.00 and set a “sector underperform” rating on the stock in a report on Friday, April 11th. Six investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat, CVR Energy has a consensus rating of “Reduce” and an average price target of $21.20.

CVR Energy Trading Up 2.6 %

Shares of CVI stock opened at $19.36 on Wednesday. The business’s fifty day moving average price is $18.72 and its 200 day moving average price is $19.25. The firm has a market capitalization of $1.95 billion, a PE ratio of 322.67 and a beta of 1.26. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.66 and a quick ratio of 0.86. CVR Energy has a 1-year low of $15.10 and a 1-year high of $30.44.

CVR Energy (NYSE:CVI) last posted its quarterly earnings results on Monday, April 28th. The oil and gas company reported ($0.58) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.32. CVR Energy had a net margin of 0.09% and a negative return on equity of 5.12%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the prior year, the company posted $0.04 EPS. The business’s revenue for the quarter was down 11.6% on a year-over-year basis. As a group, sell-side analysts forecast that CVR Energy will post -0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Carl C. Icahn acquired 7,907 shares of CVR Energy stock in a transaction dated Tuesday, April 29th. The shares were acquired at an average cost of $18.21 per share, for a total transaction of $143,986.47. Following the completion of the transaction, the insider now directly owns 70,418,471 shares of the company’s stock, valued at $1,282,320,356.91. The trade was a 0.01 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders purchased 1,641,760 shares of company stock valued at $28,641,557. Corporate insiders own 0.01% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. lifted its stake in shares of CVR Energy by 65.5% during the first quarter. Harbor Capital Advisors Inc. now owns 1,633 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 646 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in CVR Energy in the 3rd quarter valued at $43,000. R Squared Ltd acquired a new stake in shares of CVR Energy during the fourth quarter worth $36,000. PNC Financial Services Group Inc. boosted its holdings in shares of CVR Energy by 55.3% during the fourth 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 during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of CVR Energy by 106.6% in the first quarter. GAMMA Investing LLC now owns 2,159 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 1,114 shares during the period. 98.88% of the stock is currently owned by hedge funds and other institutional investors.

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.