CVR Energy (NYSE:CVI) Cut to Sell at StockNews.com

StockNews.com cut shares of CVR Energy (NYSE:CVI) from a hold rating to a sell rating in a research report report published on Wednesday.

Several other research firms have also recently weighed in on CVI. UBS Group cut their target price on CVR Energy from $33.75 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Tudor, Pickering, Holt & Co. downgraded shares of CVR Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Mizuho reduced their price objective on CVR Energy from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. JPMorgan Chase & Co. lowered their price objective on CVR Energy from $26.00 to $23.00 and set an “underweight” rating for the company in a research note on Wednesday, October 2nd. Finally, Tudor Pickering raised shares of CVR Energy to a “strong sell” rating in a report on Monday, September 9th. Five equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $24.75.

CVR Energy Price Performance

Shares of CVR Energy stock opened at $15.98 on Wednesday. The company has a 50-day simple moving average of $23.23 and a two-hundred day simple moving average of $26.11. CVR Energy has a twelve month low of $15.60 and a twelve month high of $38.07. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 23.15 and a beta of 1.48. The company has a quick ratio of 0.93, a current ratio of 1.33 and a debt-to-equity ratio of 1.84.

CVR Energy (NYSE:CVI) last released its earnings results on Monday, October 28th. The oil and gas company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.41). CVR Energy had a net margin of 0.89% and a return on equity of 2.88%. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the company posted $1.89 earnings per share. The business’s revenue was down 27.3% compared to the same quarter last year. Analysts forecast that CVR Energy will post 0.3 EPS for the current year.

Institutional Trading of CVR Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd lifted its holdings in CVR Energy by 97.2% in the third quarter. Covestor Ltd now owns 7,376 shares of the oil and gas company’s stock valued at $170,000 after buying an additional 3,635 shares during the period. CWA Asset Management Group LLC bought a new position in shares of CVR Energy during the 3rd quarter worth approximately $327,000. Amalgamated Bank boosted its holdings in shares of CVR Energy by 9.6% during the 3rd quarter. Amalgamated Bank now owns 9,716 shares of the oil and gas company’s stock worth $224,000 after buying an additional 849 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of CVR Energy by 14.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 19,505 shares of the oil and gas company’s stock worth $449,000 after buying an additional 2,388 shares during the period. Finally, Louisiana State Employees Retirement System increased its stake in shares of CVR Energy by 12.2% in the 3rd quarter. Louisiana State Employees Retirement System now owns 16,500 shares of the oil and gas company’s stock valued at $380,000 after acquiring an additional 1,800 shares in the last quarter. Institutional investors and hedge funds own 98.88% of the company’s stock.

CVR Energy Company Profile

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.