CVR Energy Inc. (NYSE:CVI) Receives $29.25 Average Target Price from Analysts

CVR Energy Inc. (NYSE:CVI) has received a consensus recommendation of “Strong Sell” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a sell recommendation and one has given a hold recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $30.00.

Several brokerages have issued reports on CVI. The Goldman Sachs Group increased their price target on CVR Energy from $22.00 to $25.00 and gave the stock a “sell” rating in a report on Thursday, March 12th. Wall Street Zen cut CVR Energy from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Weiss Ratings lowered CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research report on Friday, February 20th. Finally, Mizuho increased their target price on CVR Energy from $28.00 to $32.00 and gave the stock an “underperform” rating in a research note on Tuesday.

Insider Activity

In related news, major shareholder Carl C. Icahn acquired 275,012 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The shares were acquired at an average cost of $21.41 per share, for a total transaction of $5,888,006.92. Following the completion of the acquisition, the insider directly owned 71,201,875 shares in the company, valued at approximately $1,524,432,143.75. The trade was a 0.39% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have acquired a total of 783,404 shares of company stock worth $16,445,044 over the last ninety days. 0.01% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CVR Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its holdings in CVR Energy by 21,261.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 776,073 shares of the oil and gas company’s stock worth $28,311,000 after purchasing an additional 772,440 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of CVR Energy in the third quarter valued at about $22,217,000. Squarepoint Ops LLC bought a new stake in shares of CVR Energy in the fourth quarter valued at about $9,616,000. Bank of America Corp DE boosted its position in shares of CVR Energy by 101.2% during the third quarter. Bank of America Corp DE now owns 706,504 shares of the oil and gas company’s stock worth $25,773,000 after buying an additional 355,412 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of CVR Energy by 33.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,364,250 shares of the oil and gas company’s stock worth $49,768,000 after buying an additional 345,758 shares in the last quarter. 98.88% of the stock is owned by institutional investors and hedge funds.

CVR Energy Trading Up 5.7%

Shares of NYSE CVI opened at $29.82 on Friday. CVR Energy has a twelve month low of $15.10 and a twelve month high of $41.67. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of 114.71 and a beta of 1.12. The company has a quick ratio of 1.13, a current ratio of 1.79 and a debt-to-equity ratio of 1.95. The company’s fifty day moving average is $24.07 and its 200-day moving average is $30.10.

CVR Energy (NYSE:CVI) last released its quarterly earnings data on Wednesday, February 18th. The oil and gas company reported ($0.80) EPS for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.04. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.70 billion. CVR Energy had a net margin of 0.38% and a negative return on equity of 14.31%. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.13) EPS. Equities research analysts predict that CVR Energy will post -0.12 EPS for the current year.

CVR Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Monday, March 2nd were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 5.0%. The ex-dividend date was Monday, March 2nd.

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.