CVR Energy (NYSE:CVI – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, Zacks.com reports.
According to Zacks, “Headquartered in Sugar Land, Texas, CVR ENERGY, INC. is an independent refiner and marketer of high value transportation fuels and, through a limited partnership, a producer of ammonia and urea ammonia nitrate fertilizers. CVR Energy’s petroleum business includes full-coking sour crude refinery in Coffeyville, Kan. In addition, CVR Energy’s supporting businesses include a crude oil gathering system serving central Kansas, northern Oklahoma and southwest Nebraska; storage and terminal facilities for asphalt and refined fuels in Phillipsburg, Kan.; and a rack marketing division supplying product to customers through tanker trucks and at throughput terminals. “
Several other research analysts have also recently weighed in on CVI. JPMorgan Chase & Co. cut shares of CVR Energy from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $20.00 to $19.00 in a report on Thursday, December 9th. Wolfe Research upgraded shares of CVR Energy from a “peer perform” rating to an “outperform” rating and set a $25.00 price target for the company in a report on Friday, January 7th. Scotiabank upgraded shares of CVR Energy from a “sector underperform” rating to a “sector perform” rating and upped their price target for the company from $12.00 to $20.00 in a report on Thursday, January 13th. TheStreet upgraded shares of CVR Energy from a “d+” rating to a “c” rating in a report on Tuesday, November 2nd. Finally, StockNews.com upgraded shares of CVR Energy from a “hold” rating to a “buy” rating in a report on Wednesday. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $19.78.
NYSE CVI traded down $0.85 during trading on Friday, reaching $17.80. 593,614 shares of the stock traded hands, compared to its average volume of 591,537. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -61.38 and a beta of 1.64. The stock’s 50-day moving average price is $19.52 and its 200 day moving average price is $17.01. The company has a quick ratio of 0.85, a current ratio of 1.26 and a debt-to-equity ratio of 2.18. CVR Energy has a fifty-two week low of $11.22 and a fifty-two week high of $27.02.
CVR Energy (NYSE:CVI – Get Rating) last issued its quarterly earnings data on Monday, February 21st. The oil and gas company reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.28). CVR Energy had a negative net margin of 0.45% and a negative return on equity of 32.20%. During the same quarter last year, the firm posted ($1.18) EPS. Analysts anticipate that CVR Energy will post -2.1 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in the company. Dark Forest Capital Management LP bought a new stake in CVR Energy during the third quarter worth $31,000. Future Financial Wealth Managment LLC bought a new stake in CVR Energy during the fourth quarter worth $36,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in CVR Energy during the fourth quarter worth $39,000. Allspring Global Investments Holdings LLC bought a new stake in CVR Energy during the fourth quarter worth $68,000. Finally, Royal Bank of Canada raised its position in CVR Energy by 57.1% during the second quarter. Royal Bank of Canada now owns 6,840 shares of the oil and gas company’s stock worth $122,000 after acquiring an additional 2,487 shares in the last quarter. 91.49% of the stock is currently owned by institutional investors and hedge funds.
About CVR Energy (Get Rating)
CVR Energy, Inc is a holding company. The firm engages in the provision of petroleum refining and marketing business. It operates through the following segments: Petroleum and Nitrogen Fertilizer. The company was founded in September 1906 and is headquartered in Sugar Land, TX.