CVR Energy Inc. (NYSE:CVI) Receives $32.50 Average Target Price from Analysts

CVR Energy Inc. (NYSE:CVI) has been given an average rating of “Strong Sell” by the seven analysts that are covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a sell recommendation and two have assigned a hold recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $32.50.

CVI has been the subject of several recent analyst reports. Mizuho boosted their price objective on shares of CVR Energy from $32.00 to $35.00 and gave the stock an “underperform” rating in a research report on Wednesday, May 27th. Tudor Pickering cut shares of CVR Energy from a “hold” rating to a “sell” rating in a report on Thursday, June 4th. Wall Street Zen raised shares of CVR Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings cut shares of CVR Energy from a “sell (d+)” rating to a “sell (d-)” rating in a report on Friday, May 15th. Finally, The Goldman Sachs Group began coverage on shares of CVR Energy in a report on Friday, April 10th. They issued a “sell” rating and a $30.00 target price on the stock.

CVR Energy Stock Up 1.8%

Shares of NYSE:CVI opened at $27.27 on Friday. The company has a market capitalization of $2.74 billion, a PE ratio of -63.43 and a beta of 0.80. The company has a current ratio of 1.44, a quick ratio of 0.89 and a debt-to-equity ratio of 2.41. CVR Energy has a twelve month low of $19.62 and a twelve month high of $41.67. The firm has a 50 day simple moving average of $31.89 and a 200-day simple moving average of $28.61.

CVR Energy (NYSE:CVI) last issued its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.70). The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.73 billion. CVR Energy had a negative return on equity of 22.36% and a negative net margin of 0.56%.The firm’s quarterly revenue was up 20.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.58) EPS. On average, equities analysts predict that CVR Energy will post 0.88 EPS for the current fiscal year.

CVR Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 18th. Stockholders of record on Monday, May 11th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, May 11th. CVR Energy’s payout ratio is presently -93.02%.

Hedge Funds Weigh In On CVR Energy

A number of institutional investors have recently modified their holdings of CVI. Royal Bank of Canada increased its holdings in shares of CVR Energy by 67.2% in the 1st quarter. Royal Bank of Canada now owns 14,904 shares of the oil and gas company’s stock valued at $289,000 after acquiring an additional 5,992 shares during the period. AQR Capital Management LLC acquired a new position in shares of CVR Energy in the 1st quarter valued at $611,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of CVR Energy by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,301 shares of the oil and gas company’s stock valued at $394,000 after acquiring an additional 858 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of CVR Energy by 14.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 496,650 shares of the oil and gas company’s stock valued at $9,635,000 after acquiring an additional 63,909 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of CVR Energy by 34.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 273,777 shares of the oil and gas company’s stock valued at $7,351,000 after acquiring an additional 69,726 shares during the period. 98.88% of the stock is owned by institutional investors and hedge funds.

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.