CVR Energy Inc. (NYSE:CVI) Receives $30.25 Average PT from Brokerages

CVR Energy Inc. (NYSE:CVI) has been given an average recommendation of “Strong Sell” by the eight analysts that are currently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $30.25.

CVI has been the topic of a number of research analyst reports. Wall Street Zen raised shares of CVR Energy from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Tudor Pickering downgraded shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Thursday, June 4th. Scotiabank lifted their target price on shares of CVR Energy from $25.00 to $28.00 and gave the company a “sector underperform” rating in a research note on Wednesday, April 22nd. Raymond James Financial upgraded shares of CVR Energy from an “underperform” rating to a “market perform” rating in a report on Wednesday, March 25th. Finally, Mizuho dropped their price target on shares of CVR Energy from $35.00 to $28.00 and set an “underperform” rating on the stock in a research note on Tuesday, July 7th.

CVR Energy Trading Up 4.9%

NYSE:CVI opened at $35.11 on Thursday. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.44 and a quick ratio of 0.89. CVR Energy has a fifty-two week low of $19.62 and a fifty-two week high of $41.67. The stock’s 50-day moving average is $31.31 and its two-hundred day moving average is $28.76. The stock has a market cap of $3.53 billion, a PE ratio of -81.64 and a beta of 0.83.

CVR Energy (NYSE:CVI) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.70). The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.73 billion. CVR Energy had a negative net margin of 0.56% and a negative return on equity of 22.36%. CVR Energy’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.58) EPS. As a group, equities research analysts forecast that CVR Energy will post -0.21 earnings per share for the current fiscal year.

CVR Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 18th. Shareholders of record on Monday, May 11th were paid a $0.10 dividend. The ex-dividend date was Monday, May 11th. This represents a $0.40 dividend on an annualized basis and a yield of 1.1%. CVR Energy’s payout ratio is -93.02%.

Institutional Investors Weigh In On CVR Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in CVI. Empowered Funds LLC lifted its holdings in shares of CVR Energy by 15.1% during the 1st quarter. Empowered Funds LLC now owns 21,171 shares of the oil and gas company’s stock valued at $712,000 after buying an additional 2,772 shares during the last quarter. Amundi grew its stake in shares of CVR Energy by 26.1% in the 1st quarter. Amundi now owns 20,381 shares of the oil and gas company’s stock valued at $686,000 after buying an additional 4,213 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in CVR Energy by 44.4% in the first quarter. EverSource Wealth Advisors LLC now owns 1,102 shares of the oil and gas company’s stock worth $37,000 after buying an additional 339 shares during the last quarter. Entropy Technologies LP acquired a new position in CVR Energy in the first quarter worth approximately $634,000. Finally, Sei Investments Co. raised its position in CVR Energy by 75.7% during the first quarter. Sei Investments Co. now owns 23,940 shares of the oil and gas company’s stock valued at $806,000 after acquiring an additional 10,312 shares in the last quarter. 98.88% of the stock is 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.