CVR Energy (NYSE:CVI) Upgraded at Raymond James Financial

Raymond James Financial upgraded shares of CVR Energy (NYSE:CVI) from an underperform rating to a market perform rating in a report published on Wednesday morning, Marketbeat reports.

A number of other research firms also recently commented on CVI. Weiss Ratings downgraded shares of CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research note on Friday, February 20th. Mizuho boosted their target price on shares of CVR Energy from $28.00 to $32.00 and gave the company an “underperform” rating in a report on Tuesday, March 17th. The Goldman Sachs Group upped their price target on shares of CVR Energy from $22.00 to $25.00 and gave the stock a “sell” rating in a research report on Thursday, March 12th. Finally, Wall Street Zen raised shares of CVR Energy from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Two analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, CVR Energy currently has an average rating of “Strong Sell” and an average target price of $30.00.

CVR Energy Price Performance

CVI stock opened at $34.81 on Wednesday. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of 133.91 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. CVR Energy has a 52-week low of $15.10 and a 52-week high of $41.67. The stock’s fifty day simple moving average is $25.68 and its 200-day simple moving average is $30.24.

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

CVR Energy Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Monday, March 2nd.

Insider Buying and Selling at CVR Energy

In other news, major shareholder Carl C. Icahn bought 275,012 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was acquired at an average price of $21.41 per share, for a total transaction of $5,888,006.92. Following the acquisition, the insider owned 71,201,875 shares of the company’s stock, valued at $1,524,432,143.75. This trade represents a 0.39% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders bought 783,404 shares of company stock valued at $16,445,044. Insiders own 0.01% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd acquired a new stake in shares of CVR Energy in the fourth quarter worth $40,000. Exchange Traded Concepts LLC acquired a new position in shares of CVR Energy during the 4th quarter valued at $47,000. Horizon Investments LLC purchased a new stake in CVR Energy during the 4th quarter worth $47,000. Quarry LP purchased a new stake in CVR Energy during the 3rd quarter worth $50,000. Finally, Raymond James Financial Inc. acquired a new stake in CVR Energy in the 2nd quarter valued at $53,000. 98.88% of the stock is owned by institutional investors and hedge funds.

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.