CVR Energy (NYSE:CVI) Given Underperform Rating at Mizuho

by · The Markets Daily

Mizuho restated their underperform rating on shares of CVR Energy (NYSE:CVI – Free Report) in a report released on Monday morning, MarketBeat Ratings reports. They currently have a $29.00 target price on the oil and gas company’s stock, up from their prior target price of $27.00.

Several other equities research analysts have also recently weighed in on CVI. Raymond James Financial cut CVR Energy from a “market perform” rating to an “underperform” rating in a report on Tuesday, July 15th. Scotiabank increased their price objective on CVR Energy from $21.00 to $25.00 and gave the company a “sector underperform” rating in a research note on Friday, July 11th. Five research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Strong Sell” and a consensus price target of $23.25.

Get Our Latest Research Report on CVI

CVR Energy Price Performance

Shares of NYSE:CVI opened at $33.05 on Monday. The stock has a market cap of $3.32 billion, a PE ratio of -9.95 and a beta of 1.32. The company’s fifty day moving average is $28.96 and its 200 day moving average is $24.36. CVR Energy has a 52 week low of $15.10 and a 52 week high of $33.69. The company has a quick ratio of 0.75, a current ratio of 1.17 and a debt-to-equity ratio of 2.78.

CVR Energy (NYSE:CVI – Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The oil and gas company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.15). CVR Energy had a negative net margin of 4.63% and a negative return on equity of 18.11%. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the company earned $0.09 earnings per share. The business’s quarterly revenue was down 10.5% on a year-over-year basis. Research analysts anticipate that CVR Energy will post -0.12 earnings per share for the current year.

Institutional Investors Weigh In On CVR Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in CVR Energy by 0.6% in the first quarter. Vanguard Group Inc. now owns 4,159,992 shares of the oil and gas company’s stock worth $80,704,000 after purchasing an additional 24,677 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of CVR Energy by 14.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 894,193 shares of the oil and gas company’s stock worth $17,347,000 after acquiring an additional 111,114 shares in the last quarter. American Century Companies Inc. increased its stake in shares of CVR Energy by 5.5% in the 2nd quarter. American Century Companies Inc. now owns 825,202 shares of the oil and gas company’s stock worth $22,157,000 after acquiring an additional 43,190 shares in the last quarter. Two Sigma Investments LP lifted its position in CVR Energy by 56.2% during the 4th quarter. Two Sigma Investments LP now owns 750,195 shares of the oil and gas company’s stock valued at $14,059,000 after acquiring an additional 269,763 shares during the period. Finally, Amanah Holdings Trust bought a new stake in CVR Energy during the second quarter worth about $17,996,000. 98.88% of the stock is owned by hedge funds and other institutional investors.

About CVR Energy

(Get Free Report)

CVR Energy, Inc, together with its subsidiaries, engages in the petroleum refining and marketing, and nitrogen fertilizer manufacturing activities in the United States. It operates in two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment refines and supplies gasoline, crude oil, distillate, diesel fuel, and other refined products.

Featured Stories