CVR Energy Inc. (NYSE:CVI) Receives Average Rating of “Strong Sell” from Brokerages

Shares of CVR Energy Inc. (NYSE:CVI) have been given a consensus rating of “Strong Sell” by the seven research firms that are covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $32.50.

CVI has been the topic of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on CVR Energy in a research report on Friday, April 10th. They set a “sell” rating and a $30.00 target price on the stock. Wall Street Zen upgraded CVR Energy from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Scotiabank increased their target price on CVR Energy from $25.00 to $28.00 and gave the company a “sector underperform” rating in a research report on Wednesday, April 22nd. Raymond James Financial upgraded CVR Energy from an “underperform” rating to a “market perform” rating in a research report on Wednesday, March 25th. Finally, Mizuho increased their target price on CVR Energy from $32.00 to $35.00 and gave the company an “underperform” rating in a research report on Wednesday, May 27th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in CVR Energy by 44.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,102 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 339 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in CVR Energy by 51.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,142 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 388 shares in the last quarter. Quarry LP purchased a new position in CVR Energy in the 3rd quarter valued at $50,000. Aster Capital Management DIFC Ltd purchased a new position in CVR Energy in the 4th quarter valued at $40,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of CVR Energy in the 4th quarter worth $47,000. Hedge funds and other institutional investors own 98.88% of the company’s stock.

CVR Energy Trading Down 1.2%

CVR Energy stock opened at $26.99 on Friday. The company has a current ratio of 1.44, a quick ratio of 0.89 and a debt-to-equity ratio of 2.41. CVR Energy has a 12 month low of $19.62 and a 12 month high of $41.67. The stock’s 50 day simple moving average is $31.80 and its two-hundred day simple moving average is $28.60. The firm has a market cap of $2.71 billion, a PE ratio of -62.77 and a beta of 0.80.

CVR Energy (NYSE:CVI) last released its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported ($1.24) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.70). CVR Energy had a negative return on equity of 22.36% and a negative net margin of 0.56%.The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the company posted ($0.58) EPS. The company’s revenue for the quarter was up 20.3% on a year-over-year basis. Analysts anticipate that CVR Energy will post 0.88 earnings per share for the current year.

CVR Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 18th. Shareholders of record on Monday, May 11th were issued a $0.10 dividend. The ex-dividend date was Monday, May 11th. This represents a $0.40 dividend on an annualized basis and a yield of 1.5%. CVR Energy’s dividend payout ratio (DPR) is presently -93.02%.

About CVR Energy

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.