CVR Energy Inc. (NYSE:CVI) Receives Average Recommendation of “Strong Sell” from Brokerages

Shares of CVR Energy Inc. (NYSE:CVI) have received a consensus recommendation of “Strong Sell” from the eight research firms that are presently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $30.25.

A number of research firms have weighed in on CVI. Scotiabank upped their target price on CVR Energy from $25.00 to $28.00 and gave the stock a “sector underperform” rating in a research report on Wednesday, April 22nd. Raymond James Financial upgraded CVR Energy from an “underperform” rating to a “market perform” rating in a research report on Wednesday, March 25th. The Goldman Sachs Group initiated coverage on CVR Energy in a research note on Friday, April 10th. They issued a “sell” rating and a $30.00 price objective on the stock. Zacks Research lowered CVR Energy from a “hold” rating to a “strong sell” rating in a report on Monday, July 6th. Finally, Tudor Pickering cut CVR Energy from a “hold” rating to a “sell” rating in a research note on Thursday, June 4th.

Hedge Funds Weigh In On CVR Energy

Several large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its position 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 worth $37,000 after purchasing an additional 339 shares in the last quarter. PNC Financial Services Group Inc. grew its position in 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 valued at $38,000 after purchasing an additional 388 shares in the last quarter. Victory Capital Management Inc. grew its position in CVR Energy by 2.9% during the third quarter. Victory Capital Management Inc. now owns 21,329 shares of the oil and gas company’s stock valued at $778,000 after purchasing an additional 596 shares in the last quarter. Illinois Municipal Retirement Fund increased its stake in CVR Energy by 3.9% in the 4th quarter. Illinois Municipal Retirement Fund now owns 17,741 shares of the oil and gas company’s stock valued at $451,000 after buying an additional 660 shares during the period. Finally, Alliancebernstein L.P. increased its stake in CVR Energy by 1.5% in the 3rd quarter. Alliancebernstein L.P. now owns 48,943 shares of the oil and gas company’s stock valued at $1,785,000 after buying an additional 700 shares during the period. Institutional investors own 98.88% of the company’s stock.

CVR Energy Stock Down 1.3%

CVI stock opened at $34.92 on Thursday. The firm’s 50-day moving average is $31.34 and its two-hundred day moving average is $28.99. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of -81.22 and a beta of 0.83. CVR Energy has a 52 week low of $19.62 and a 52 week high of $41.67. 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 (NYSE:CVI) last posted its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.70). CVR Energy had a negative net margin of 0.56% and a negative return on equity of 22.36%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the business earned ($0.58) earnings per share. The company’s revenue was up 20.3% on a year-over-year basis. On average, analysts forecast that CVR Energy will post -0.21 earnings per share for the current fiscal year.

CVR Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 18th. Shareholders of record on Monday, May 11th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Monday, May 11th. CVR Energy’s dividend payout ratio is presently -93.02%.

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.