Brokerages Set CVR Energy, Inc. (NYSE:CVI) Target Price at $24.75

CVR Energy, Inc. (NYSE:CVI) has been given a consensus rating of “Strong Sell” by the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $24.75.

A number of equities research analysts have recently issued reports on the company. Scotiabank lowered their target price on CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating for the company in a research note on Thursday, October 10th. JPMorgan Chase & Co. lowered their price objective on shares of CVR Energy from $26.00 to $23.00 and set an “underweight” rating for the company in a research report on Wednesday, October 2nd. Tudor, Pickering, Holt & Co. cut shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. UBS Group lowered their price target on shares of CVR Energy from $33.75 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Finally, StockNews.com lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a report on Wednesday.

Institutional Trading of CVR Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in CVI. SummerHaven Investment Management LLC boosted its stake in CVR Energy by 2.2% during the 2nd quarter. SummerHaven Investment Management LLC now owns 24,511 shares of the oil and gas company’s stock valued at $656,000 after acquiring an additional 530 shares during the last quarter. Amalgamated Bank raised its stake in shares of CVR Energy by 9.6% in the 3rd quarter. Amalgamated Bank now owns 9,716 shares of the oil and gas company’s stock valued at $224,000 after purchasing an additional 849 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of CVR Energy by 4.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,485 shares of the oil and gas company’s stock worth $767,000 after purchasing an additional 990 shares during the last quarter. Quest Partners LLC grew its stake in CVR Energy by 47.3% in the second quarter. Quest Partners LLC now owns 3,485 shares of the oil and gas company’s stock worth $93,000 after purchasing an additional 1,119 shares in the last quarter. Finally, Headlands Technologies LLC increased its holdings in CVR Energy by 820.5% in the second quarter. Headlands Technologies LLC now owns 1,482 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 1,321 shares during the last quarter. Institutional investors own 98.88% of the company’s stock.

CVR Energy Price Performance

CVI opened at $15.90 on Tuesday. CVR Energy has a 52-week low of $15.89 and a 52-week high of $38.07. The company has a 50 day moving average of $23.41 and a two-hundred day moving average of $26.23. The company has a market cap of $1.60 billion, a P/E ratio of 23.04 and a beta of 1.48. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 1.51.

CVR Energy (NYSE:CVI) last announced its quarterly earnings results on Monday, October 28th. The oil and gas company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.41). CVR Energy had a return on equity of 25.00% and a net margin of 6.39%. The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period last year, the company posted $1.89 earnings per share. The firm’s revenue for the quarter was down 27.3% on a year-over-year basis. On average, analysts expect that CVR Energy will post 0.35 earnings per share for the current year.

CVR Energy Company Profile

CVR Energy, Inc, together with its subsidiaries, engages in the petroleum refining and marketing, and nitrogen fertilizer manufacturing activities in the United States. It operates in two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment refines and supplies gasoline, crude oil, distillate, diesel fuel, and other refined products.