CVR Energy Inc. (NYSE:CVI) Stock Rated “Reduce” by Wall Street Brokerages

CVR Energy Inc. (NYSE:CVI) has been given an average rating of “Reduce” by the eight brokerages that are presently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $45.75.

CVI has been the subject of several recent research reports. Mizuho upped their target price on shares of CVR Energy from $29.00 to $52.00 and gave the company an “underperform” rating in a research report on Thursday, October 8th. Zacks Research upgraded CVR Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 16th. UBS Group raised their price target on CVR Energy from $35.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, October 2nd. Wall Street Zen raised CVR Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 10th. Finally, The Goldman Sachs Group upped their price objective on CVR Energy from $36.00 to $50.00 and gave the company a “sell” rating in a report on Friday, October 9th.

Hedge Funds Weigh In On CVR Energy

Several institutional investors have recently modified their holdings of CVI. BlackRock Inc. acquired a new stake in CVR Energy during the 2nd quarter worth $143,262,000. PDT Partners LLC bought a new position in CVR Energy during the second quarter worth about $14,502,000. Dimensional Fund Advisors LP lifted its holdings in CVR Energy by 16.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,908,062 shares of the oil and gas company’s stock worth $64,220,000 after acquiring an additional 265,013 shares in the last quarter. First Trust Advisors LP lifted its holdings in CVR Energy by 687.6% during the first quarter. First Trust Advisors LP now owns 263,448 shares of the oil and gas company’s stock worth $8,865,000 after acquiring an additional 229,998 shares in the last quarter. Finally, State Street Corp grew its stake in CVR Energy by 11.0% in the second quarter. State Street Corp now owns 2,153,498 shares of the oil and gas company’s stock valued at $59,315,000 after acquiring an additional 213,829 shares during the period. 98.88% of the stock is currently owned by institutional investors and hedge funds.

CVR Energy Stock Performance

Shares of NYSE:CVI opened at $58.04 on Friday. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 2.38. CVR Energy has a 1-year low of $19.62 and a 1-year high of $63.51. The stock has a market capitalization of $5.83 billion, a P/E ratio of 85.35 and a beta of 0.90. The business has a 50-day moving average price of $50.29 and a two-hundred day moving average price of $38.44.

CVR Energy (NYSE:CVI) last issued its quarterly earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.26 by $0.08. CVR Energy had a net margin of 0.81% and a negative return on equity of 15.21%. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter in the previous year, the company earned ($0.23) EPS. CVR Energy’s revenue was up 55.5% on a year-over-year basis. Equities analysts predict that CVR Energy will post 4.20 earnings per share for the current year.

CVR Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 10th were issued a dividend of $0.10 per share. The ex-dividend date was Monday, August 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.7%. CVR Energy’s dividend payout ratio (DPR) is 58.82%.

CVR Energy Company Profile

CVR Energy, Inc (NYSE:CVI) is a diversified energy company engaged primarily in petroleum refining and nitrogen fertilizer production. Through its refining operations, the company processes crude oil into transportation fuels and other refined products, including gasoline, diesel fuel, jet fuel and asphalt.

CVR Energy operates refineries in Coffeyville, Kansas, and Wynnewood, Oklahoma. The facilities primarily serve customers in the Midcontinent region of the United States and are supported by related logistics and distribution assets.