CVR Energy (NYSE:CVI) Price Target Raised to $32.00
by Tristan Rich · The Markets DailyCVR Energy (NYSE:CVI – Free Report) had its price objective hoisted by Mizuho from $28.00 to $32.00 in a report published on Tuesday morning,Benzinga reports. The firm currently has an underperform rating on the oil and gas company’s stock.
Several other research analysts also recently issued reports on the company. Weiss Ratings downgraded CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research note on Friday, February 20th. Wall Street Zen cut shares of CVR Energy from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Finally, The Goldman Sachs Group raised their target price on shares of CVR Energy from $22.00 to $25.00 and gave the company a “sell” rating in a report on Thursday, March 12th. One investment analyst has rated the stock with a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Strong Sell” and an average target price of $30.00.
Check Out Our Latest Stock Report on CVI
CVR Energy Stock Performance
CVI opened at $32.17 on Tuesday. CVR Energy has a 1-year low of $15.10 and a 1-year high of $41.67. The stock has a market cap of $3.23 billion, a P/E ratio of 123.73 and a beta of 1.12. The stock’s 50 day simple moving average is $24.44 and its 200 day simple moving average is $30.14. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.79 and a quick ratio of 1.13.
CVR Energy (NYSE:CVI – Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The oil and gas company reported ($0.80) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.84) by $0.04. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.70 billion. CVR Energy had a negative return on equity of 14.31% and a net margin of 0.38%.CVR Energy’s revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.13) earnings per share. As a group, equities analysts anticipate that CVR Energy will post -0.12 EPS for the current fiscal year.
CVR Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Monday, March 2nd were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Monday, March 2nd.
Insiders Place Their Bets
In other news, major shareholder Carl C. Icahn bought 275,012 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was purchased at an average price of $21.41 per share, with a total value of $5,888,006.92. Following the purchase, 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have bought 783,404 shares of company stock valued at $16,445,044. Insiders own 0.01% of the company’s stock.
Institutional Investors Weigh In On CVR Energy
A number of hedge funds and other institutional investors have recently modified their holdings of CVI. Aster Capital Management DIFC Ltd acquired a new position in shares of CVR Energy in the fourth quarter valued at approximately $40,000. Exchange Traded Concepts LLC acquired a new stake in CVR Energy during the fourth quarter worth approximately $47,000. Horizon Investments LLC purchased a new stake in CVR Energy in the 4th quarter worth approximately $47,000. Quarry LP acquired a new position in CVR Energy in the 3rd quarter valued at $50,000. Finally, Raymond James Financial Inc. acquired a new position in CVR Energy in the 2nd quarter valued at $53,000. 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.