CVR Energy (NYSE:CVI) Earns Sell Rating from Analysts at The Goldman Sachs Group
by Danessa Lincoln · The Markets DailyStock analysts at The Goldman Sachs Group started coverage on shares of CVR Energy (NYSE:CVI – Get Free Report) in a research note issued on Friday. 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 suggest a potential downside of 0.97% from the stock’s previous close.
Several other equities research analysts also recently weighed in on CVI. Wall Street Zen downgraded shares of CVR Energy from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. Weiss Ratings downgraded shares of CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research note on Friday, February 20th. Mizuho lifted their price target on shares of CVR Energy from $28.00 to $32.00 and gave the company an “underperform” rating in a research note on Tuesday, March 17th. Raymond James Financial raised shares of CVR Energy from an “underperform” rating to a “market perform” rating in a research note on Wednesday, March 25th. Finally, Scotiabank raised shares of CVR Energy to a “strong sell” rating in a research note on Friday, March 27th. Two equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, CVR Energy presently has an average rating of “Strong Sell” and a consensus price target of $31.25.
View Our Latest Research Report on CVR Energy
CVR Energy Trading Down 0.8%
NYSE CVI traded down $0.24 during mid-day trading on Friday, reaching $30.30. 56,280 shares of the stock were exchanged, compared to its average volume of 1,440,415. CVR Energy has a one year low of $16.66 and a one year high of $41.67. The stock has a 50 day simple moving average of $27.34 and a 200-day simple moving average of $30.23. The stock has a market cap of $3.05 billion, a P/E ratio of 116.32 and a beta of 0.94. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.79 and a quick ratio of 1.13.
CVR Energy (NYSE:CVI – Get Free Report) last announced its earnings results on Wednesday, February 18th. The oil and gas company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter last year, the firm earned ($0.13) earnings per share. CVR Energy’s quarterly revenue was down 7.0% on a year-over-year basis. On average, analysts anticipate that CVR Energy will post -0.12 EPS for the current year.
Insider Activity at CVR Energy
In other CVR Energy news, major shareholder Carl C. Icahn bought 275,012 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was 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 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 position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have bought 783,404 shares of company stock worth $16,445,044 over the last ninety days. Insiders own 0.01% of the company’s stock.
Institutional Investors Weigh In On CVR Energy
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Illinois Municipal Retirement Fund increased its position in shares of CVR Energy by 2.2% during the third quarter. Illinois Municipal Retirement Fund now owns 17,081 shares of the oil and gas company’s stock worth $623,000 after acquiring an additional 363 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of CVR Energy by 2.9% during the third quarter. Victory Capital Management Inc. now owns 21,329 shares of the oil and gas company’s stock worth $778,000 after acquiring an additional 596 shares in the last quarter. Congress Asset Management Co. increased its position in shares of CVR Energy by 0.7% during the third quarter. Congress Asset Management Co. now owns 85,083 shares of the oil and gas company’s stock worth $3,104,000 after acquiring an additional 604 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of 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 acquiring an additional 700 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of 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 acquiring an additional 709 shares in the last quarter. 98.88% of the stock is owned by 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.