CVR Energy (NYSE:CVI) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of CVR Energy (NYSE:CVI) from a hold rating to a buy rating in a research note issued to investors on Saturday.

Several other brokerages have also recently weighed in on CVI. Zacks Research cut shares of CVR Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, July 6th. Scotiabank lifted their target price on shares of CVR Energy from $25.00 to $28.00 and gave the company a “sector underperform” rating in a research note on Wednesday, April 22nd. The Goldman Sachs Group initiated coverage on CVR Energy in a report on Friday, April 10th. They issued a “sell” rating and a $30.00 target price on the stock. Mizuho decreased their price target on CVR Energy from $35.00 to $28.00 and set an “underperform” rating on the stock in a research report on Tuesday, July 7th. Finally, UBS Group reaffirmed a “neutral” rating and set a $35.00 price target on shares of CVR Energy in a report on Monday, June 29th. Two investment analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, CVR Energy currently has a consensus rating of “Strong Sell” and a consensus price target of $30.25.

CVR Energy Stock Down 6.8%

CVI opened at $35.51 on Friday. The firm’s 50-day simple moving average is $31.55 and its 200-day simple moving average is $29.47. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.89 and a current ratio of 1.42. CVR Energy has a twelve month low of $19.62 and a twelve month high of $41.67. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 52.22 and a beta of 0.83.

CVR Energy (NYSE:CVI) last announced its earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.08. CVR Energy had a net margin of 0.81% and a negative return on equity of 15.21%. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter last year, the company posted ($0.23) EPS. The firm’s revenue for the quarter was up 55.5% on a year-over-year basis. Equities research analysts anticipate that CVR Energy will post -0.21 EPS for the current fiscal year.

CVR Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 10th will be issued 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 is currently 58.82%.

Hedge Funds Weigh In On CVR Energy

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