JPMorgan Chase & Co. Cuts CVR Energy (NYSE:CVI) Price Target to $23.00

by · The Cerbat Gem

CVR Energy (NYSE:CVI – Free Report) had its target price cut by JPMorgan Chase & Co. from $26.00 to $23.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have an underweight rating on the oil and gas company’s stock.

Other analysts also recently issued research reports about the company. StockNews.com downgraded CVR Energy from a buy rating to a hold rating in a research report on Sunday, June 16th. Scotiabank boosted their price target on CVR Energy from $24.00 to $25.00 and gave the stock a sector underperform rating in a research report on Wednesday, July 31st. Mizuho cut their price objective on CVR Energy from $27.00 to $25.00 and set a neutral rating for the company in a report on Monday, September 16th. UBS Group decreased their target price on shares of CVR Energy from $33.75 to $30.00 and set a neutral rating for the company in a research note on Tuesday, August 13th. Finally, Tudor, Pickering, Holt & Co. lowered shares of CVR Energy from a hold rating to a sell rating in a research report on Monday, September 9th. Four equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat, CVR Energy currently has an average rating of Reduce and a consensus price target of $25.75.

Read Our Latest Report on CVR Energy

CVR Energy Price Performance

Shares of CVI opened at $24.67 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 1.51. CVR Energy has a twelve month low of $21.05 and a twelve month high of $38.07. The stock has a market capitalization of $2.48 billion, a P/E ratio of 3.79 and a beta of 1.48. The company has a 50 day moving average of $24.52 and a 200-day moving average of $28.03.

CVR Energy (NYSE:CVI – Get Free Report) last released its earnings results on Monday, July 29th. The oil and gas company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.39. CVR Energy had a net margin of 6.39% and a return on equity of 25.00%. The business had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the firm earned $1.64 earnings per share. The firm’s revenue for the quarter was down 12.0% compared to the same quarter last year. As a group, equities research analysts forecast that CVR Energy will post 0.5 EPS for the current fiscal year.

CVR Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.11%. CVR Energy’s payout ratio is 30.67%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CVI. Jones Financial Companies Lllp bought a new position in CVR Energy during the fourth quarter worth $33,000. Headlands Technologies LLC lifted its stake in shares of CVR Energy by 820.5% during the 2nd quarter. Headlands Technologies LLC now owns 1,482 shares of the oil and gas company’s stock worth $40,000 after buying an additional 1,321 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of CVR Energy during the 1st quarter worth about $71,000. Covestor Ltd boosted its holdings in shares of CVR Energy by 45,560.0% during the 1st quarter. Covestor Ltd now owns 2,283 shares of the oil and gas company’s stock worth $81,000 after buying an additional 2,278 shares during the period. Finally, Scarborough Advisors LLC acquired a new position in CVR Energy in the 4th quarter valued at about $89,000. 98.88% of the stock is owned by institutional investors and hedge funds.

About CVR Energy

(Get Free Report)

CVR Energy, Inc, together with its subsidiaries, engages in the petroleum refining and marketing, and nitrogen fertilizer manufacturing activities in the United States. It operates in two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment refines and supplies gasoline, crude oil, distillate, diesel fuel, and other refined products.

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