CVR Energy Inc. (CVI) Upgraded to “Neutral” by Piper Jaffray Cos.
Piper Jaffray Cos. upgraded shares of CVR Energy Inc. (NYSE:CVI) from an underweight rating to a neutral rating in a research note released on Monday. They currently have $14.00 price target on the stock, up from their previous price target of $10.00.
Separately, Goldman Sachs Group Inc. raised shares of CVR Energy from a sell rating to a neutral rating and upped their price objective for the company from $13.00 to $15.00 in a research note on Thursday, September 8th.
Shares of CVR Energy (NYSE:CVI) traded down 0.47% on Monday, reaching $14.83. 163,728 shares of the company were exchanged. CVR Energy has a 1-year low of $13.01 and a 1-year high of $48.37. The stock has a market capitalization of $1.29 billion, a PE ratio of 52.04 and a beta of 1.79. The company has a 50-day moving average price of $14.42 and a 200 day moving average price of $17.85.
CVR Energy (NYSE:CVI) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.27. CVR Energy had a net margin of 0.54% and a return on equity of 5.84%. The company earned $1.28 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the company posted $1.17 EPS. The company’s quarterly revenue was down 21.0% compared to the same quarter last year. On average, analysts forecast that CVR Energy will post $0.37 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of CVI. Quantbot Technologies LP increased its stake in shares of CVR Energy by 77.1% in the second quarter. Quantbot Technologies LP now owns 7,627 shares of the company’s stock valued at $118,000 after buying an additional 3,320 shares during the period. BlackRock Advisors LLC increased its stake in shares of CVR Energy by 1.3% in the second quarter. BlackRock Advisors LLC now owns 7,783 shares of the company’s stock valued at $121,000 after buying an additional 99 shares during the period. Legal & General Group Plc increased its stake in shares of CVR Energy by 726.9% in the second quarter. Legal & General Group Plc now owns 8,542 shares of the company’s stock valued at $131,000 after buying an additional 7,509 shares during the period. Royal Bank of Canada increased its stake in shares of CVR Energy by 936.1% in the second quarter. Royal Bank of Canada now owns 10,081 shares of the company’s stock valued at $156,000 after buying an additional 9,108 shares during the period. Finally, Invictus RG purchased a new stake in shares of CVR Energy during the first quarter valued at about $157,000.
CVR Energy Company Profile
CVR Energy, Inc (CVR Energy) is a holding company. The Company engages in the petroleum refining and nitrogen fertilizer manufacturing through its holdings in CVR Refining LP (CVR Refining or the Refining Partnership) and CVR Partners LP (CVR Partners or the Nitrogen Fertilizer Partnership). It operates under two business segments: petroleum (the petroleum and related businesses operated by the Refining Partnership) and nitrogen fertilizer (the nitrogen fertilizer business operated by the Nitrogen Fertilizer Partnership).
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