CVR Energy (NYSE:CVI) Price Target Raised to $21.00 at Scotiabank

CVR Energy (NYSE:CVI) had its target price upped by Scotiabank from $16.00 to $21.00 in a report issued on Monday,Benzinga reports. Scotiabank currently has a sector underperform rating on the oil and gas company’s stock.

A number of other research firms have also recently weighed in on CVI. The Goldman Sachs Group cut their price objective on CVR Energy from $19.00 to $16.00 and set a “sell” rating for the company in a research report on Thursday, March 27th. StockNews.com cut shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, April 30th. Finally, Mizuho upped their price objective on shares of CVR Energy from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Tuesday, April 1st. Six research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat, CVR Energy presently has an average rating of “Reduce” and an average price target of $22.20.

CVR Energy Trading Down 0.0 %

Shares of CVR Energy stock opened at $20.19 on Monday. CVR Energy has a twelve month low of $15.10 and a twelve month high of $30.44. The firm’s 50-day moving average price is $18.71 and its 200 day moving average price is $19.12. The company has a current ratio of 1.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.15. The firm has a market capitalization of $2.03 billion, a PE ratio of 336.56 and a beta of 1.02.

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

Insider Buying and Selling at CVR Energy

In other CVR Energy news, major shareholder Carl C. Icahn purchased 7,907 shares of the business’s stock in a transaction on Tuesday, April 29th. The stock was bought at an average cost of $18.21 per share, for a total transaction of $143,986.47. Following the acquisition, the insider now owns 70,418,471 shares of the company’s stock, valued at approximately $1,282,320,356.91. The trade was a 0.01 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders have bought 1,641,760 shares of company stock valued at $28,641,557. Insiders own 0.01% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. CWM LLC lifted its holdings in shares of CVR Energy by 304.2% during the 1st quarter. CWM LLC now owns 2,676 shares of the oil and gas company’s stock valued at $52,000 after acquiring an additional 2,014 shares in the last quarter. D.A. Davidson & CO. lifted its stake in shares of CVR Energy by 3.8% during the first quarter. D.A. Davidson & CO. now owns 40,790 shares of the oil and gas company’s stock worth $791,000 after purchasing an additional 1,500 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of CVR Energy by 2.3% in the first quarter. Principal Financial Group Inc. now owns 170,584 shares of the oil and gas company’s stock worth $3,309,000 after buying an additional 3,910 shares during the period. SummerHaven Investment Management LLC grew its stake in shares of CVR Energy by 2.5% in the first quarter. SummerHaven Investment Management LLC now owns 31,707 shares of the oil and gas company’s stock valued at $615,000 after buying an additional 759 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of CVR Energy by 106.6% during the 1st quarter. GAMMA Investing LLC now owns 2,159 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 1,114 shares during the period. 98.88% of the stock is 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.