CVR Energy Inc. (NYSE:CVI) Receives Consensus Recommendation of “Reduce” from Brokerages

CVR Energy Inc. (NYSE:CVI) has earned an average rating of “Reduce” from the eight research firms that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $35.00.

A number of equities research analysts recently weighed in on the stock. Mizuho boosted their price target on shares of CVR Energy from $28.00 to $29.00 and gave the company an “underperform” rating in a research report on Tuesday, August 4th. Zacks Research upgraded CVR Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. UBS Group boosted their target price on CVR Energy from $35.00 to $53.00 and gave the company a “neutral” rating in a report on Friday. Weiss Ratings raised CVR Energy from a “sell (d-)” rating to a “hold (c)” rating in a research report on Tuesday, September 22nd. Finally, Wall Street Zen raised CVR Energy from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st.

CVR Energy Stock Up 3.6%

CVI stock opened at $56.80 on Tuesday. 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 $57.25. The company’s 50 day moving average is $42.99 and its two-hundred day moving average is $35.83. The stock has a market cap of $5.71 billion, a P/E ratio of 83.52 and a beta of 0.90.

CVR Energy (NYSE:CVI) last issued its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.08. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.22 billion. CVR Energy had a net margin of 0.81% and a negative return on equity of 15.21%. The company’s revenue was up 55.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.23) EPS. Research analysts expect that CVR Energy will post 1.56 earnings per share for the current fiscal year.

CVR Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 10th were paid a $0.10 dividend. The ex-dividend date was Monday, August 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.7%. CVR Energy’s payout ratio is currently 58.82%.

Institutional Trading of CVR Energy

Several institutional investors and hedge funds have recently bought and sold shares of CVI. Nykredit A S purchased a new position in CVR Energy during the 2nd quarter worth $29,000. EverSource Wealth Advisors LLC boosted its stake 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 worth $37,000 after buying an additional 339 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of CVR Energy by 51.5% during the first quarter. PNC Financial Services Group Inc. now owns 1,142 shares of the oil and gas company’s stock worth $38,000 after buying an additional 388 shares during the period. CX Institutional grew its holdings in shares of CVR Energy by 5,362.5% during the third quarter. CX Institutional now owns 1,311 shares of the oil and gas company’s stock worth $67,000 after buying an additional 1,287 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of CVR Energy during the second quarter worth about $92,000. Hedge funds and other institutional investors own 98.88% of the company’s stock.

About CVR Energy

CVR Energy, Inc is a diversified energy company engaged primarily in petroleum refining and nitrogen fertilizer production. Headquartered in Sugar Land, Texas, the company operates through subsidiaries that serve customers in the United States, with activities concentrated in the Midcontinent region.

Through its refining operations, CVR Energy processes crude oil into transportation fuels and other refined products, including gasoline, diesel fuel, jet fuel and asphalt. Its refineries are located in Coffeyville, Kansas, and Wynnewood, Oklahoma, and are supported by related logistics, storage and transportation assets.

CVR Energy also owns and operates nitrogen fertilizer facilities through CVR Partners, LP.