CVR Energy (NYSE:CVI) Stock Rating Lowered by Wall Street Zen

CVR Energy (NYSE:CVI) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Several other research analysts also recently weighed in on CVI. Scotiabank upgraded CVR Energy to a “strong sell” rating in a research note on Friday, March 27th. Raymond James Financial raised CVR Energy from an “underperform” rating to a “market perform” rating in a report on Wednesday, March 25th. Weiss Ratings lowered CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research note on Friday, February 20th. The Goldman Sachs Group upped their price objective on shares of CVR Energy from $22.00 to $25.00 and gave the company a “sell” rating in a report on Thursday, March 12th. Finally, Mizuho increased their price objective on shares of CVR Energy from $28.00 to $32.00 and gave the company an “underperform” rating in a research report on Tuesday, March 17th. Two research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, CVR Energy has a consensus rating of “Strong Sell” and an average target price of $30.00.

CVR Energy Price Performance

Shares of CVI opened at $31.59 on Friday. The company has a 50 day moving average of $26.54 and a two-hundred day moving average of $30.27. 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 $15.10 and a twelve month high of $41.67. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 121.50 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, topping analysts’ consensus estimates 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 business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the firm posted ($0.13) earnings per share. The business’s quarterly revenue was down 7.0% on a year-over-year basis. As a group, analysts predict that CVR Energy will post -0.12 earnings per share for the current fiscal year.

Insider Activity at CVR Energy

In related news, major shareholder Carl C. Icahn bought 275,012 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The shares were purchased at an average cost of $21.41 per share, with a total value of $5,888,006.92. Following the completion of the acquisition, the insider directly owned 71,201,875 shares in the company, valued at approximately $1,524,432,143.75. The trade was a 0.39% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders bought a total of 783,404 shares of company stock valued at $16,445,044 in the last quarter. 0.01% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CVR Energy

Several hedge funds have recently bought and sold shares of the stock. Illinois Municipal Retirement Fund grew its stake in shares of CVR Energy by 2.2% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 17,081 shares of the oil and gas company’s stock worth $623,000 after purchasing an additional 363 shares during the period. Victory Capital Management Inc. lifted its stake in shares of CVR Energy by 2.9% in the 3rd quarter. Victory Capital Management Inc. now owns 21,329 shares of the oil and gas company’s stock valued at $778,000 after purchasing an additional 596 shares during the period. Congress Asset Management Co. lifted its stake in shares of CVR Energy by 0.7% in the 3rd quarter. Congress Asset Management Co. now owns 85,083 shares of the oil and gas company’s stock valued at $3,104,000 after purchasing an additional 604 shares during the period. Alliancebernstein L.P. boosted its holdings in CVR Energy by 1.5% during the third quarter. Alliancebernstein L.P. now owns 48,943 shares of the oil and gas company’s stock worth $1,785,000 after buying an additional 700 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in CVR Energy by 5.6% during the fourth quarter. NewEdge Advisors LLC now owns 13,394 shares of the oil and gas company’s stock worth $341,000 after buying an additional 709 shares in the last quarter. Hedge funds and other institutional investors 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.