CVR Energy (NYSE:CVI) Price Target Raised to $25.00

CVR Energy (NYSE:CVI) had its price target increased by The Goldman Sachs Group from $22.00 to $25.00 in a research report released on Thursday morning,Benzinga reports. They currently have a sell rating on the oil and gas company’s stock.

Other equities analysts also recently issued reports about the company. Wall Street Zen downgraded CVR Energy from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Weiss Ratings downgraded shares of CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research report on Friday, February 20th. One analyst has rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, CVR Energy has a consensus rating of “Strong Sell” and an average price target of $29.25.

CVR Energy Trading Down 0.8%

CVI stock opened at $28.54 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.79 and a debt-to-equity ratio of 1.95. The company has a market cap of $2.87 billion, a price-to-earnings ratio of 109.76 and a beta of 1.12. The business has a fifty day simple moving average of $23.92 and a 200-day simple moving average of $30.11. CVR Energy has a 52 week low of $15.10 and a 52 week high of $41.67.

CVR Energy (NYSE:CVI) last issued its earnings results on Wednesday, February 18th. The oil and gas company reported ($0.80) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.04. CVR Energy had a negative return on equity of 14.31% and a net margin of 0.38%.The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter last year, the firm earned ($0.13) earnings per share. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. On average, equities research analysts expect that CVR Energy will post -0.12 EPS for the current year.

CVR Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Monday, March 2nd were given a $0.37 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.48 annualized dividend and a yield of 5.2%.

Insider Activity at CVR Energy

In related news, major shareholder Carl C. Icahn bought 275,012 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was bought at an average price of $21.41 per share, with a total value of $5,888,006.92. Following the completion of the transaction, the insider directly owned 71,201,875 shares of the company’s stock, valued at approximately $1,524,432,143.75. This represents a 0.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought a total of 783,404 shares of company stock worth $16,445,044 in the last 90 days. Insiders own 0.01% of the company’s stock.

Institutional Investors Weigh In On CVR Energy

Several hedge funds have recently modified their holdings of CVI. Illinois Municipal Retirement Fund lifted its position in CVR Energy by 2.2% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 17,081 shares of the oil and gas company’s stock worth $623,000 after acquiring an additional 363 shares in the last quarter. Victory Capital Management Inc. grew its position in CVR Energy by 2.9% in the third quarter. Victory Capital Management Inc. now owns 21,329 shares of the oil and gas company’s stock valued at $778,000 after acquiring an additional 596 shares in the last quarter. Congress Asset Management Co. grew its position in CVR Energy by 0.7% in the third quarter. Congress Asset Management Co. now owns 85,083 shares of the oil and gas company’s stock valued at $3,104,000 after acquiring an additional 604 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of CVR Energy by 1.5% during the third quarter. Alliancebernstein L.P. now owns 48,943 shares of the oil and gas company’s stock valued at $1,785,000 after purchasing an additional 700 shares during the period. Finally, NewEdge Advisors LLC raised its stake in shares of CVR Energy by 5.6% during the fourth quarter. NewEdge Advisors LLC now owns 13,394 shares of the oil and gas company’s stock valued at $341,000 after purchasing an additional 709 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 is an independent downstream energy company engaged primarily in petroleum refining and nitrogen fertilizer production in the United States. Headquartered in Sugar Land, Texas, CVR Energy operates through two reportable segments—Petroleum Products and Nitrogen Fertilizers—leveraging its refining expertise and distribution network to serve both wholesale and retail markets across key regions in the U.S.

In its Petroleum Products segment, the company owns and operates the Coffeyville, Kansas refinery, which has the capability to process various grades of crude oil into gasoline, diesel, jet fuel and other refined products.