CVR Energy (NYSE:CVI) Upgraded to Market Perform at Raymond James Financial

Raymond James Financial upgraded shares of CVR Energy (NYSE:CVI) from an underperform rating to a market perform rating in a report issued on Wednesday, MarketBeat reports.

CVI has been the subject of several other research reports. Wall Street Zen raised shares of CVR Energy from a “sell” rating to a “hold” rating in a research note on Saturday, March 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. The Goldman Sachs Group boosted their price target on CVR Energy from $22.00 to $25.00 and gave the stock a “sell” rating in a research report on Thursday, March 12th. Finally, Mizuho upped their price target on CVR Energy from $28.00 to $32.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 17th. Two research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Strong Sell” and a consensus price target of $30.00.

CVR Energy Price Performance

Shares of CVI opened at $32.67 on Wednesday. The firm has a market cap of $3.28 billion, a PE ratio of 125.65 and a beta of 1.12. The firm’s 50 day moving average price is $25.25 and its 200 day moving average price is $30.18. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.13 and a current ratio of 1.79. CVR Energy has a twelve month low of $15.10 and a twelve month high of $41.67.

CVR Energy (NYSE:CVI) last posted its earnings results on Wednesday, February 18th. The oil and gas company reported ($0.80) EPS for the quarter, topping the consensus estimate of ($0.84) by $0.04. CVR Energy had a net margin of 0.38% and a negative return on equity of 14.31%. 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 previous year, the firm posted ($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 expect that CVR Energy will post -0.12 EPS for the current fiscal year.

CVR Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Monday, March 2nd were given a dividend of $0.37 per share. 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 4.5%.

Insider Transactions at CVR Energy

In other CVR Energy news, major shareholder Carl C. Icahn purchased 275,012 shares of the stock in a transaction dated Tuesday, February 24th. The shares were bought at an average cost of $21.41 per share, with a total value of $5,888,006.92. Following the completion of the transaction, the insider owned 71,201,875 shares in the company, valued at $1,524,432,143.75. This trade represents a 0.39% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought 783,404 shares of company stock worth $16,445,044 in the last three months. 0.01% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CVR Energy

Several large investors have recently made changes to their positions in CVI. Quarry LP bought a new stake in CVR Energy during the 3rd quarter valued at approximately $50,000. Aster Capital Management DIFC Ltd bought a new position in CVR Energy in the 4th quarter worth approximately $40,000. Exchange Traded Concepts LLC acquired a new position in shares of CVR Energy during the fourth quarter worth approximately $47,000. Horizon Investments LLC acquired a new position in shares of CVR Energy during the fourth quarter worth approximately $47,000. Finally, Raymond James Financial Inc. bought a new stake in shares of CVR Energy in the second quarter valued at approximately $53,000. Institutional investors and hedge funds own 98.88% of the company’s stock.

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.