CVR Energy Inc. (NYSE:CVI) Given Consensus Rating of “Strong Sell” by Analysts

Shares of CVR Energy Inc. (NYSE:CVI) have been assigned a consensus recommendation of “Strong Sell” from the eight analysts 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 target price among analysts that have covered the stock in the last year is $30.25.

A number of brokerages have commented on CVI. 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 target on the stock. Raymond James Financial raised CVR Energy from an “underperform” rating to a “market perform” rating in a research note on Wednesday, March 25th. Scotiabank raised their target price on shares of CVR Energy from $25.00 to $28.00 and gave the stock a “sector underperform” rating in a report on Wednesday, April 22nd. Weiss Ratings downgraded shares of CVR Energy from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Friday, May 15th. Finally, Zacks Research lowered shares of CVR Energy from a “hold” rating to a “strong sell” rating in a report on Monday, July 6th.

CVR Energy Stock Down 3.0%

CVI opened at $32.57 on Thursday. The company has a market cap of $3.27 billion, a P/E ratio of -75.74 and a beta of 0.83. The business’s 50-day moving average price is $31.26 and its 200-day moving average price is $28.67. 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 has a 12 month low of $19.62 and a 12 month high of $41.67.

CVR Energy (NYSE:CVI) last released its earnings results on Wednesday, April 29th. The oil and gas company reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.70). The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.73 billion. CVR Energy had a negative net margin of 0.56% and a negative return on equity of 22.36%. The company’s revenue was up 20.3% on a year-over-year basis. During the same period last year, the firm posted ($0.58) EPS. On average, equities analysts expect that CVR Energy will post -0.21 EPS for the current year.

CVR Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 18th. Shareholders of record on Monday, May 11th were given a $0.10 dividend. The ex-dividend date was Monday, May 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.2%. CVR Energy’s payout ratio is presently -93.02%.

Institutional Trading of CVR Energy

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in CVR Energy by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 3,705,809 shares of the oil and gas company’s stock valued at $94,276,000 after purchasing an additional 106,906 shares during the period. Dimensional Fund Advisors LP lifted its holdings in CVR Energy by 16.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,908,062 shares of the oil and gas company’s stock worth $64,220,000 after buying an additional 265,013 shares during the period. State Street Corp grew its position in shares of CVR Energy by 2.6% in the 4th quarter. State Street Corp now owns 1,779,701 shares of the oil and gas company’s stock worth $45,276,000 after buying an additional 45,603 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of CVR Energy by 33.9% in the 3rd 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 during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of CVR Energy by 31.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,167,184 shares of the oil and gas company’s stock valued at $29,693,000 after buying an additional 280,300 shares during the period. 98.88% of the stock is currently owned by hedge funds and other institutional investors.

CVR Energy Company Profile

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.