Brokerages Set CVR Energy Inc. (NYSE:CVI) PT at $29.25

Shares of CVR Energy Inc. (NYSE:CVI) have received an average rating of “Strong Sell” from the six brokerages that are presently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a sell rating and one has issued a hold rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $29.25.

A number of analysts recently issued reports on CVI shares. Wall Street Zen cut CVR Energy from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Weiss Ratings lowered shares of CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research note on Friday, February 20th. Finally, The Goldman Sachs Group upped their price target on shares of CVR Energy from $22.00 to $25.00 and gave the company a “sell” rating in a report on Thursday.

CVR Energy Stock Performance

CVI stock opened at $28.54 on Friday. CVR Energy has a 1-year low of $15.10 and a 1-year high of $41.67. The company has a current ratio of 1.79, a quick ratio of 1.13 and a debt-to-equity ratio of 1.95. The firm has a market cap of $2.87 billion, a PE ratio of 109.76 and a beta of 1.12. The business’s 50-day moving average price is $23.92 and its two-hundred day moving average price is $30.12.

CVR Energy (NYSE:CVI) last announced its quarterly earnings results on Wednesday, February 18th. The oil and gas company reported ($0.80) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the company earned ($0.13) earnings per share. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. As a group, research analysts forecast that CVR Energy will post -0.12 earnings per share for the current year.

CVR Energy Announces Dividend

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

Insider Transactions at CVR Energy

In other news, major shareholder Carl C. Icahn purchased 275,012 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were purchased at an average price of $21.41 per share, with a total value of $5,888,006.92. Following the purchase, the insider directly owned 71,201,875 shares of the company’s stock, valued at $1,524,432,143.75. This trade represents a 0.39% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders bought 783,404 shares of company stock worth $16,445,044. 0.01% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CVI. Aster Capital Management DIFC Ltd acquired a new stake in CVR Energy in the 4th quarter valued at approximately $40,000. Exchange Traded Concepts LLC acquired a new position in CVR Energy during the 4th quarter worth approximately $47,000. Horizon Investments LLC bought a new position in shares of CVR Energy during the 4th quarter worth approximately $47,000. Quarry LP bought a new position in shares of CVR Energy during the 3rd quarter worth approximately $50,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of CVR Energy in the second quarter valued at approximately $53,000. 98.88% of the stock is currently owned by institutional investors.

CVR Energy Company Profile

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.