CVR Energy Inc. (NYSE:CVI) Receives Average Recommendation of “Strong Sell” from Brokerages

Shares of CVR Energy Inc. (NYSE:CVI) have been assigned an average recommendation of “Strong Sell” from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a sell recommendation and two have assigned a hold recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $23.00.

A number of analysts have recently commented on the stock. Wall Street Zen lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, April 30th. 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 note on Thursday, March 27th. Mizuho lifted their price target on shares of CVR Energy from $21.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 13th. Finally, Scotiabank reiterated an “underperform” rating on shares of CVR Energy in a research note on Monday, May 5th.

CVR Energy Stock Down 0.7%

Shares of CVR Energy stock opened at $29.36 on Friday. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.85 and a current ratio of 1.32. The stock has a market capitalization of $2.95 billion, a PE ratio of -14.90 and a beta of 1.16. CVR Energy has a 52-week low of $15.10 and a 52-week high of $30.06. The company has a 50-day simple moving average of $24.22 and a two-hundred day simple moving average of $20.80.

CVR Energy (NYSE:CVI) last issued its earnings results on Monday, April 28th. The oil and gas company reported ($0.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.90) by $0.32. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.61 billion. CVR Energy had a negative net margin of 2.68% and a negative return on equity of 12.66%. The business’s revenue for the quarter was down 11.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.04 earnings per share. On average, analysts anticipate that CVR Energy will post -0.12 EPS for the current fiscal year.

Insider Transactions at CVR Energy

In other CVR Energy news, major shareholder Carl C. Icahn bought 7,907 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 70,418,471 shares of the company’s stock, valued at $1,282,320,356.91. This represents a 0.01% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased 966,324 shares of company stock worth $16,511,721 in the last three months. Insiders own 0.01% of the company’s stock.

Institutional Trading of CVR Energy

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of CVR Energy by 0.6% in the first quarter. Vanguard Group Inc. now owns 4,159,992 shares of the oil and gas company’s stock worth $80,704,000 after purchasing an additional 24,677 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of CVR Energy by 12.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,181,295 shares of the oil and gas company’s stock worth $40,876,000 after purchasing an additional 238,081 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of CVR Energy by 14.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 894,193 shares of the oil and gas company’s stock worth $17,347,000 after purchasing an additional 111,114 shares during the period. American Century Companies Inc. boosted its position in shares of CVR Energy by 12.8% in the first quarter. American Century Companies Inc. now owns 782,012 shares of the oil and gas company’s stock worth $15,171,000 after purchasing an additional 88,778 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of CVR Energy by 36.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 776,313 shares of the oil and gas company’s stock worth $14,548,000 after purchasing an additional 207,872 shares during the period. 98.88% of the stock is currently owned by 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.