CVR Energy (NYSE:CVI) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of CVR Energy (NYSE:CVI – Free Report) from a hold rating to a buy rating in a report issued on Saturday morning.

Other equities analysts have also recently issued reports about the stock. The Goldman Sachs Group assumed coverage on shares of CVR Energy in a research note on Friday, April 10th. They set a “sell” rating and a $30.00 price target for the company. Mizuho reduced their price objective on shares of CVR Energy from $35.00 to $28.00 and set an “underperform” rating for the company in a research note on Tuesday, July 7th. Zacks Research cut CVR Energy from a “hold” rating to a “strong sell” rating in a report on Monday, July 6th. UBS Group reaffirmed a “neutral” rating and issued a $35.00 target price on shares of CVR Energy in a research report on Monday, June 29th. Finally, Weiss Ratings cut CVR Energy from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Friday, May 15th. Two investment analysts have rated the stock with a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Strong Sell” and a consensus target price of $30.25.

Get Our Latest Stock Analysis on CVI

CVR Energy Trading Down 7.6%

NYSE CVI opened at $32.92 on Friday. CVR Energy has a one year low of $19.62 and a one year high of $41.67. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.42 and a quick ratio of 0.92. The firm has a market cap of $3.31 billion, a P/E ratio of 48.41 and a beta of 0.83. The stock’s 50-day moving average is $31.56 and its 200-day moving average is $29.60.

CVR Energy (NYSE:CVI – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.08. CVR Energy had a negative return on equity of 15.21% and a net margin of 0.81%.The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the prior year, the firm earned ($0.23) earnings per share. CVR Energy’s revenue for the quarter was up 55.5% compared to the same quarter last year. Sell-side analysts anticipate that CVR Energy will post -0.21 earnings per share for the current fiscal year.

CVR Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 10th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.40 annualized dividend and a yield of 1.2%. CVR Energy’s dividend payout ratio is currently 58.82%.

Hedge Funds Weigh In On CVR Energy

Several hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its stake in CVR Energy by 21,261.8% during the third quarter. BNP Paribas Financial Markets now owns 776,073 shares of the oil and gas company’s stock worth $28,311,000 after purchasing an additional 772,440 shares during the last quarter. Squarepoint Ops LLC acquired a new position in CVR Energy during the 4th quarter worth approximately $9,616,000. Bank of America Corp DE increased its position in CVR Energy by 101.2% during the 3rd quarter. Bank of America Corp DE now owns 706,504 shares of the oil and gas company’s stock worth $25,773,000 after purchasing an additional 355,412 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in CVR Energy by 33.9% in the 3rd 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. Finally, Renaissance Technologies LLC lifted its stake in CVR Energy by 31.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,167,184 shares of the oil and gas company’s stock valued at $29,693,000 after purchasing an additional 280,300 shares during the last quarter. 98.88% of the stock is owned by institutional investors.

About CVR Energy

(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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