Tudor Pickering Downgrades CVR Energy (NYSE:CVI) to Sell

CVR Energy (NYSE:CVI) was downgraded by Tudor Pickering from a “hold” rating to a “sell” rating in a report issued on Thursday, Marketbeat Ratings reports.

CVI has been the subject of a number of other research reports. Wall Street Zen upgraded shares of CVR Energy from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. The Goldman Sachs Group began coverage on shares of CVR Energy in a report on Friday, April 10th. They issued a “sell” rating and a $30.00 price target on the stock. Weiss Ratings downgraded shares of CVR Energy from a “sell (d+)” rating to a “sell (d-)” rating in a report on Friday, May 15th. Raymond James Financial upgraded CVR Energy from an “underperform” rating to a “market perform” rating in a research report on Wednesday, March 25th. Finally, Scotiabank lifted their target price on CVR Energy from $25.00 to $28.00 and gave the stock a “sector underperform” rating in a report on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, CVR Energy currently has a consensus rating of “Strong Sell” and an average target price of $32.50.

CVR Energy Stock Down 0.1%

Shares of CVI opened at $35.61 on Thursday. The business’s 50 day moving average is $32.82 and its 200 day moving average is $29.22. The company has a current ratio of 1.44, a quick ratio of 0.89 and a debt-to-equity ratio of 2.41. CVR Energy has a 12-month low of $19.62 and a 12-month high of $41.67. The company has a market capitalization of $3.58 billion, a PE ratio of -82.81 and a beta of 0.80.

CVR Energy (NYSE:CVI) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.70). The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.73 billion. CVR Energy had a negative return on equity of 22.36% and a negative net margin of 0.56%.The company’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.58) earnings per share. Research analysts expect that CVR Energy will post 1.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CVR Energy

Several institutional investors have recently modified their holdings of the stock. Tudor Investment Corp ET AL bought a new position in shares of CVR Energy during the 3rd quarter valued at approximately $22,217,000. Neo Ivy Capital Management lifted its position in CVR Energy by 165.4% in the third quarter. Neo Ivy Capital Management now owns 65,340 shares of the oil and gas company’s stock worth $2,384,000 after buying an additional 40,721 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in CVR Energy by 38.8% during the third quarter. JPMorgan Chase & Co. now owns 380,127 shares of the oil and gas company’s stock worth $13,867,000 after buying an additional 106,350 shares during the period. Citigroup Inc. boosted its stake in CVR Energy by 95.6% during the third quarter. Citigroup Inc. now owns 391,985 shares of the oil and gas company’s stock worth $14,300,000 after buying an additional 191,584 shares during the period. Finally, Allianz Asset Management GmbH increased its position in CVR Energy by 69.3% during the third quarter. Allianz Asset Management GmbH now owns 458,214 shares of the oil and gas company’s stock valued at $16,716,000 after acquiring an additional 187,620 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.