CVR Energy (NYSE:CVI) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of CVR Energy (NYSE:CVI) from a hold rating to a sell rating in a report released on Saturday.

A number of other equities research analysts have also commented on CVI. 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 raised their price objective on CVR Energy from $22.00 to $25.00 and gave the stock a “sell” rating in a research report on Thursday, March 12th. Mizuho lifted their price objective on CVR Energy from $28.00 to $32.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 17th. Scotiabank upgraded CVR Energy to a “strong sell” rating in a report on Friday, March 27th. Finally, Weiss Ratings downgraded shares of CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research report on Friday, February 20th. Two investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, CVR Energy presently has a consensus rating of “Strong Sell” and an average target price of $30.00.

CVR Energy Stock Performance

Shares of CVI stock opened at $31.59 on Friday. The business’s 50-day moving average price is $26.54 and its 200-day moving average price is $30.25. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of 121.50 and a beta of 0.94. CVR Energy has a 12 month low of $15.10 and a 12 month high of $41.67. The company has a current ratio of 1.79, a quick ratio of 1.13 and a debt-to-equity ratio of 1.95.

CVR Energy (NYSE:CVI) last posted its earnings results on Wednesday, February 18th. The oil and gas company reported ($0.80) EPS for the quarter, topping the consensus estimate of ($0.84) by $0.04. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate 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 revenue was down 7.0% compared to the same quarter last year. During the same period last year, the company earned ($0.13) EPS. Equities research analysts forecast that CVR Energy will post -0.12 EPS for the current year.

CVR Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Monday, March 2nd were given a $0.37 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.48 annualized dividend and a yield of 4.7%.

Insider Buying and Selling

In related news, major shareholder Carl C. Icahn acquired 275,012 shares of the firm’s stock in a transaction on Tuesday, February 24th. The stock was purchased at an average cost of $21.41 per share, with a total value of $5,888,006.92. Following the acquisition, the insider owned 71,201,875 shares of the company’s stock, valued at approximately $1,524,432,143.75. This trade represents a 0.39% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders purchased 783,404 shares of company stock worth $16,445,044. Insiders own 0.01% of the company’s stock.

Institutional Investors Weigh In On CVR Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada grew its stake in shares of CVR Energy by 67.2% in the 1st quarter. Royal Bank of Canada now owns 14,904 shares of the oil and gas company’s stock worth $289,000 after acquiring an additional 5,992 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of CVR Energy during the first quarter valued at approximately $611,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in CVR Energy by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,301 shares of the oil and gas company’s stock valued at $394,000 after purchasing an additional 858 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of CVR Energy by 14.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 496,650 shares of the oil and gas company’s stock worth $9,635,000 after purchasing an additional 63,909 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in CVR Energy by 34.2% during the second quarter. JPMorgan Chase & Co. now owns 273,777 shares of the oil and gas company’s stock worth $7,351,000 after buying an additional 69,726 shares during the last quarter. 98.88% of the stock is owned by hedge funds and other 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.