Mizuho Forecasts Strong Price Appreciation for CVR Energy (NYSE:CVI) Stock

CVR Energy (NYSE:CVI) had its price objective boosted by equities researchers at Mizuho from $28.00 to $29.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “underperform” rating on the oil and gas company’s stock. Mizuho’s price target suggests a potential downside of 12.57% from the stock’s previous close.

CVI has been the subject of a number of other reports. Wall Street Zen upgraded CVR Energy from a “hold” rating to a “buy” rating in a report on Saturday. Tudor Pickering lowered CVR Energy from a “hold” rating to a “sell” rating in a research report on Thursday, June 4th. The Goldman Sachs Group began coverage on CVR Energy in a research report on Friday, April 10th. They set a “sell” rating and a $30.00 price objective for the company. Zacks Research lowered CVR Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, July 6th. Finally, UBS Group reiterated a “neutral” rating and issued a $35.00 target price on shares of CVR Energy in a report on Monday, June 29th. Two equities research analysts have rated the stock with a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat.com, CVR Energy presently has an average rating of “Strong Sell” and an average price target of $30.50.

CVR Energy Price Performance

NYSE CVI traded up $0.28 during midday trading on Tuesday, hitting $33.17. The company had a trading volume of 469,339 shares, compared to its average volume of 1,189,615. The firm has a 50-day moving average price of $31.56 and a 200-day moving average price of $29.60. The company has a market capitalization of $3.33 billion, a PE ratio of 48.71 and a beta of 0.83. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 2.38. CVR Energy has a twelve month low of $19.62 and a twelve month high of $41.67.

CVR Energy (NYSE:CVI) last issued its earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share for the quarter, beating 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 firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same quarter last year, the business posted ($0.23) earnings per share. The company’s quarterly revenue was up 55.5% on a year-over-year basis. As a group, analysts anticipate that CVR Energy will post -0.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased 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 valued at $37,000 after acquiring an additional 339 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in CVR Energy by 51.5% during 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. Aster Capital Management DIFC Ltd acquired a new position in CVR Energy during the fourth quarter worth $40,000. Exchange Traded Concepts LLC acquired a new position in CVR Energy during the fourth quarter worth $47,000. Finally, Horizon Investments LLC bought a new position in shares of CVR Energy in the fourth quarter valued at $47,000. Institutional investors 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.