CVR Energy (NYSE:CVI) Raised to Hold at Zacks Research

CVR Energy (NYSE:CVI) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on the company. Wall Street Zen raised CVR Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Tudor Pickering downgraded 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 note on Friday, April 10th. They issued a “sell” rating and a $30.00 price target on the stock. Weiss Ratings lowered CVR Energy from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Friday, May 15th. 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 research note on Tuesday. Three investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Strong Sell” and a consensus price target of $30.50.

CVR Energy Stock Down 6.4%

NYSE CVI opened at $31.21 on Tuesday. CVR Energy has a twelve month low of $19.62 and a twelve month high of $41.67. The stock has a market cap of $3.14 billion, a PE ratio of 45.89 and a beta of 0.83. The firm has a 50-day simple moving average of $31.57 and a 200 day simple moving average of $29.71. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.92 and a current ratio of 1.42.

CVR Energy (NYSE:CVI) last posted its quarterly 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. The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.22 billion. CVR Energy had a negative return on equity of 15.21% and a net margin of 0.81%.The company’s revenue for the quarter was up 55.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.23) EPS. On average, research analysts forecast that CVR Energy will post 0.16 EPS for the current year.

Hedge Funds Weigh In On CVR Energy

Institutional investors have recently modified their holdings of the stock. Empowered Funds LLC boosted its stake in CVR Energy by 15.1% during the 1st quarter. Empowered Funds LLC now owns 21,171 shares of the oil and gas company’s stock worth $712,000 after acquiring an additional 2,772 shares during the last quarter. Amundi boosted its stake in CVR Energy by 26.1% in the 1st 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 period. EverSource Wealth Advisors LLC boosted its stake in CVR Energy by 44.4% in 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 period. Entropy Technologies LP bought a new position in CVR Energy during the 1st quarter worth about $634,000. Finally, Sei Investments Co. raised its stake in shares of 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 valued at $806,000 after purchasing an additional 10,312 shares during the period. 98.88% of the stock is currently owned by institutional investors and hedge funds.

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.