The Goldman Sachs Group Forecasts Strong Price Appreciation for CVR Energy (NYSE:CVI) Stock

by · The Markets Daily

CVR Energy (NYSE:CVI – Get Free Report) had its target price upped by analysts at The Goldman Sachs Group from $22.00 to $25.00 in a report released on Thursday,Benzinga reports. The firm currently has a “sell” rating on the oil and gas company’s stock. The Goldman Sachs Group’s target price suggests a potential downside of 15.00% from the company’s current price.

Several other research analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Weiss Ratings downgraded CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research note on Friday, February 20th. One analyst has rated the stock with a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Strong Sell” and an average target price of $29.25.

View Our Latest Stock Analysis on CVR Energy

CVR Energy Stock Performance

Shares of CVI traded up $1.04 during midday trading on Thursday, reaching $29.41. 955,790 shares of the stock were exchanged, compared to its average volume of 1,389,041. CVR Energy has a twelve month low of $15.10 and a twelve month high of $41.67. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.79 and a quick ratio of 1.13. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 112.55 and a beta of 1.12. The business’s 50-day moving average price is $23.79 and its 200 day moving average price is $30.11.

CVR Energy (NYSE:CVI – Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The oil and gas company reported ($0.80) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.04. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.70 billion. CVR Energy had a negative return on equity of 14.31% and a net margin of 0.38%.The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.13) earnings per share. On average, sell-side analysts expect that CVR Energy will post -0.12 EPS for the current fiscal year.

Insider Buying and Selling at CVR Energy

In related news, major shareholder Carl C. Icahn purchased 275,012 shares of the business’s stock in a transaction dated Tuesday, February 24th. The stock was acquired at an average price of $21.41 per share, for a total transaction of $5,888,006.92. Following the acquisition, the insider directly owned 71,201,875 shares of the company’s stock, valued at $1,524,432,143.75. This trade represents a 0.39% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have acquired 783,404 shares of company stock worth $16,445,044. Corporate insiders own 0.01% of the company’s stock.

Institutional Investors Weigh In On CVR Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in CVR Energy by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 3,705,809 shares of the oil and gas company’s stock valued at $94,276,000 after purchasing an additional 106,906 shares in the last quarter. State Street Corp increased its holdings in CVR Energy by 2.6% during the 4th quarter. State Street Corp now owns 1,779,701 shares of the oil and gas company’s stock valued at $45,276,000 after acquiring an additional 45,603 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of CVR Energy by 33.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,364,250 shares of the oil and gas company’s stock valued at $49,768,000 after purchasing an additional 345,758 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of CVR Energy by 31.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,167,184 shares of the oil and gas company’s stock worth $29,693,000 after purchasing an additional 280,300 shares in the last quarter. Finally, UBS Group AG raised its position in shares of CVR Energy by 32.2% during the 4th quarter. UBS Group AG now owns 850,042 shares of the oil and gas company’s stock worth $21,625,000 after purchasing an additional 206,861 shares during the last quarter. 98.88% of the stock is currently owned by institutional investors and hedge funds.

CVR Energy Company Profile

(Get Free Report)

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.

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