CVR Energy (NYSE:CVI) Upgraded at Zacks Research

Zacks Research upgraded shares of CVR Energy (NYSE:CVI) from a strong sell rating to a hold rating in a research report report published on Tuesday,Zacks.com reports.

A number of other equities analysts have also commented on CVI. Raymond James Financial lowered CVR Energy from a “market perform” rating to an “underperform” rating in a research note on Tuesday, July 15th. Mizuho restated an “underperform” rating and set a $29.00 price objective (up previously from $27.00) on shares of CVR Energy in a research note on Monday. Finally, Scotiabank raised their price objective on CVR Energy from $21.00 to $25.00 and gave the stock a “sector underperform” rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Strong Sell” and a consensus target price of $23.25.

CVR Energy Price Performance

Shares of NYSE CVI opened at $33.86 on Tuesday. The firm has a market cap of $3.40 billion, a P/E ratio of -10.20 and a beta of 1.32. The company has a current ratio of 1.17, a quick ratio of 0.75 and a debt-to-equity ratio of 2.78. CVR Energy has a 1-year low of $15.10 and a 1-year high of $34.04. The business’s 50 day moving average is $28.98 and its 200-day moving average is $24.47.

CVR Energy (NYSE:CVI) last announced its earnings results on Wednesday, July 30th. The oil and gas company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.15). CVR Energy had a negative return on equity of 18.11% and a negative net margin of 4.63%.The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the business posted $0.09 EPS. CVR Energy’s revenue for the quarter was down 10.5% on a year-over-year basis. Equities research analysts predict that CVR Energy will post -0.12 earnings per share for the current year.

Institutional Investors Weigh In On CVR Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Public Sector Pension Investment Board grew its position in CVR Energy by 7.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 116,358 shares of the oil and gas company’s stock worth $3,124,000 after acquiring an additional 8,001 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in CVR Energy by 13.7% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 34,495 shares of the oil and gas company’s stock worth $927,000 after acquiring an additional 4,145 shares during the last quarter. Tower Research Capital LLC TRC grew its position in CVR Energy by 432.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,846 shares of the oil and gas company’s stock worth $184,000 after acquiring an additional 5,560 shares during the last quarter. Voleon Capital Management LP bought a new stake in CVR Energy during the 2nd quarter worth $285,000. Finally, BNP Paribas Financial Markets grew its position in CVR Energy by 48.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,633 shares of the oil and gas company’s stock worth $98,000 after acquiring an additional 1,178 shares during the last quarter. Institutional investors own 98.88% of the company’s stock.

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.