CVR Energy Inc. (NYSE:CVI) Given Consensus Recommendation of “Strong Sell” by Analysts

CVR Energy Inc. (NYSE:CVI) has been given an average rating of “Strong Sell” by the eight ratings firms that are covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $30.50.

A number of brokerages have issued reports on CVI. UBS Group reissued a “neutral” rating and issued a $35.00 price target on shares of CVR Energy in a research note on Monday, June 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CVR Energy in a research note on Wednesday. Wall Street Zen upgraded shares of CVR Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Zacks Research raised shares of CVR Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Mizuho boosted their target price on shares of CVR Energy from $28.00 to $29.00 and gave the company an “underperform” rating in a report on Tuesday, August 4th.

CVR Energy Price Performance

CVI stock opened at $35.13 on Monday. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 51.66 and a beta of 0.83. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 2.38. CVR Energy has a 52-week low of $19.62 and a 52-week high of $41.67. The stock’s fifty day simple moving average is $31.46 and its 200-day simple moving average is $30.19.

CVR Energy (NYSE:CVI) last released its earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 EPS for the quarter, beating 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 firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same period in the prior year, the firm posted ($0.23) earnings per share. The business’s quarterly revenue was up 55.5% compared to the same quarter last year. Equities research analysts expect that CVR Energy will post 0.79 EPS for the current year.

CVR Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 10th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.40 dividend on an annualized basis and a yield of 1.1%. CVR Energy’s dividend payout ratio (DPR) is currently 58.82%.

Hedge Funds Weigh In On CVR Energy

Hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its holdings in CVR Energy by 44.4% during the 1st 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. PNC Financial Services Group Inc. raised its position in shares of CVR Energy by 51.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,142 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 388 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of CVR Energy by 2.9% during the 3rd quarter. Victory Capital Management Inc. now owns 21,329 shares of the oil and gas company’s stock valued at $778,000 after buying an additional 596 shares during the last quarter. Illinois Municipal Retirement Fund boosted its stake in shares of CVR Energy by 3.9% during the 4th quarter. Illinois Municipal Retirement Fund now owns 17,741 shares of the oil and gas company’s stock valued at $451,000 after buying an additional 660 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of CVR Energy by 1.5% during the third quarter. Alliancebernstein L.P. now owns 48,943 shares of the oil and gas company’s stock worth $1,785,000 after buying an additional 700 shares in the last quarter. Institutional investors and hedge funds own 98.88% of the company’s stock.

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.