CVR Energy (NYSE:CVI) Given New $32.00 Price Target at Mizuho

CVR Energy (NYSE:CVI) had its price target increased by Mizuho from $28.00 to $32.00 in a research report released on Tuesday,Benzinga reports. They currently have an underperform rating on the oil and gas company’s stock.

Several other research firms have also recently issued reports on CVI. Wall Street Zen cut shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Weiss Ratings lowered 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 CVR Energy from $22.00 to $25.00 and gave the stock a “sell” rating in a research report on Thursday, March 12th. One analyst has rated the stock with a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, CVR Energy presently has an average rating of “Strong Sell” and a consensus target price of $30.00.

CVR Energy Stock Performance

NYSE:CVI opened at $29.82 on Tuesday. The stock has a market capitalization of $3.00 billion, a P/E ratio of 114.71 and a beta of 1.12. The company has a current ratio of 1.79, a quick ratio of 1.13 and a debt-to-equity ratio of 1.95. CVR Energy has a 12-month low of $15.10 and a 12-month high of $41.67. The stock has a 50-day moving average price of $24.07 and a 200 day moving average price of $30.10.

CVR Energy (NYSE:CVI) last issued its 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 firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the previous year, the firm posted ($0.13) earnings per share. The business’s revenue was down 7.0% compared to the same quarter last year. Equities research analysts forecast that CVR Energy will post -0.12 EPS for the current fiscal year.

CVR Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Monday, March 2nd were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 5.0%. The ex-dividend date was Monday, March 2nd.

Insider Activity

In related 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 bought at an average cost of $21.41 per share, for a total transaction of $5,888,006.92. Following the completion of the purchase, the insider directly 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders bought 783,404 shares of company stock worth $16,445,044. Corporate insiders own 0.01% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CVI. Aster Capital Management DIFC Ltd acquired a new position in shares of CVR Energy during the fourth quarter worth about $40,000. Exchange Traded Concepts LLC purchased 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 in the fourth quarter worth $47,000. Quarry LP acquired a new position in CVR Energy in the 3rd quarter valued at about $50,000. Finally, Raymond James Financial Inc. acquired a new position 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 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.