CVR Energy (NYSE:CVI) Rating Lowered to Strong Sell at Zacks Research

CVR Energy (NYSE:CVI) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

Other research analysts have also recently issued reports about the company. 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. Raymond James Financial raised shares of CVR Energy from an “underperform” rating to a “market perform” rating in a report on Wednesday, March 25th. Mizuho decreased their target price on shares of CVR Energy from $35.00 to $28.00 and set an “underperform” rating on the stock in a research report on Tuesday. Tudor Pickering cut shares of CVR Energy from a “hold” rating to a “sell” rating in a research note on Thursday, June 4th. Finally, 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. 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 stock presently has a consensus rating of “Strong Sell” and a consensus target price of $30.25.

CVR Energy Stock Performance

NYSE CVI opened at $28.63 on Monday. The company’s fifty day moving average is $31.42 and its two-hundred day moving average is $28.45. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of -66.58 and a beta of 0.83. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.44 and a quick ratio of 0.89. CVR Energy has a 52-week low of $19.62 and a 52-week high of $41.67.

CVR Energy (NYSE:CVI) last released its earnings results on Wednesday, April 29th. The oil and gas company reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.70). The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates 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 period last year, the business earned ($0.58) earnings per share. Equities research analysts forecast that CVR Energy will post -0.16 EPS for the current year.

Institutional Investors Weigh In On CVR Energy

A number of large investors have recently bought and sold shares of the business. Empowered Funds LLC raised its position in CVR Energy by 15.1% in the 1st quarter. Empowered Funds LLC now owns 21,171 shares of the oil and gas company’s stock valued at $712,000 after purchasing an additional 2,772 shares during the last quarter. Amundi grew its holdings in shares of CVR Energy by 26.1% during the first quarter. Amundi now owns 20,381 shares of the oil and gas company’s stock worth $686,000 after purchasing an additional 4,213 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of CVR Energy by 44.4% during the first quarter. EverSource Wealth Advisors LLC now owns 1,102 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 339 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of CVR Energy in the first quarter valued at $634,000. Finally, Sei Investments Co. raised its holdings in shares of CVR Energy by 75.7% in the first quarter. Sei Investments Co. now owns 23,940 shares of the oil and gas company’s stock valued at $806,000 after buying an additional 10,312 shares during the last quarter. 98.88% of the stock is currently 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.