The Goldman Sachs Group Begins Coverage on CVR Energy (NYSE:CVI)

Research analysts at The Goldman Sachs Group started coverage on shares of CVR Energy (NYSE:CVI) in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The firm set a “sell” rating and a $30.00 price target on the oil and gas company’s stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 2.54% from the stock’s current price.

Several other brokerages have also issued reports on CVI. Raymond James Financial upgraded shares of CVR Energy from an “underperform” rating to a “market perform” rating in a research note on Wednesday, March 25th. Weiss Ratings cut CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research report on Friday, February 20th. Scotiabank raised CVR Energy to a “strong sell” rating in a research report on Friday, March 27th. Wall Street Zen cut CVR Energy from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Finally, Mizuho increased their price target on CVR Energy from $28.00 to $32.00 and gave the company an “underperform” rating in a research report on Tuesday, March 17th. Two analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, CVR Energy has an average rating of “Strong Sell” and a consensus price target of $31.25.

CVR Energy Trading Up 0.8%

NYSE:CVI opened at $30.78 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.79 and a debt-to-equity ratio of 1.95. CVR Energy has a twelve month low of $16.66 and a twelve month high of $41.67. The business has a 50 day moving average price of $27.50 and a two-hundred day moving average price of $30.17. The company has a market cap of $3.09 billion, a P/E ratio of 118.40 and a beta of 0.94.

CVR Energy (NYSE:CVI) last issued its quarterly earnings results on Wednesday, February 18th. The oil and gas company reported ($0.80) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the previous year, the business earned ($0.13) EPS. The company’s revenue was down 7.0% compared to the same quarter last year. As a group, analysts expect that CVR Energy will post -0.12 EPS for the current fiscal year.

Insider Transactions at CVR Energy

In other news, major shareholder Carl C. Icahn bought 275,012 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was acquired at an average cost of $21.41 per share, for a total transaction of $5,888,006.92. Following the purchase, the insider owned 71,201,875 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this link. In the last three months, insiders have bought 783,404 shares of company stock valued at $16,445,044. Company insiders own 0.01% of the company’s stock.

Institutional Investors Weigh In On CVR Energy

Hedge funds have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new stake in CVR Energy in the 4th quarter valued at about $40,000. Exchange Traded Concepts LLC acquired a new position in shares of CVR Energy during the 4th quarter worth approximately $47,000. Horizon Investments LLC acquired a new position in shares of CVR Energy during the 4th quarter worth approximately $47,000. Quarry LP acquired a new position in shares of CVR Energy during the 3rd quarter worth approximately $50,000. Finally, Raymond James Financial Inc. acquired a new position in shares of CVR Energy during the 2nd quarter worth approximately $53,000. 98.88% of the stock is currently owned by institutional investors and hedge funds.

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.