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

Shares of CVR Energy Inc. (NYSE:CVI) have been assigned a consensus recommendation of “Strong Sell” from the six research firms that are covering the company, MarketBeat reports. Four analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $31.75.

CVI has been the topic of a number of analyst reports. Mizuho boosted their price objective on shares of CVR Energy from $28.00 to $32.00 and gave the company an “underperform” rating in a research report on Tuesday, March 17th. Wall Street Zen upgraded shares of CVR Energy from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. The Goldman Sachs Group initiated coverage on shares of CVR Energy in a research report on Friday, April 10th. They set a “sell” rating and a $30.00 price objective on the stock. Raymond James Financial upgraded shares of CVR Energy from an “underperform” rating to a “market perform” rating in a research report on Wednesday, March 25th. Finally, Weiss Ratings cut shares of CVR Energy from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Friday, May 15th.

CVR Energy Price Performance

CVR Energy stock opened at $31.74 on Wednesday. The company has a market cap of $3.19 billion, a price-to-earnings ratio of -73.81 and a beta of 0.83. The firm’s fifty day moving average is $32.51 and its 200 day moving average is $29.33. The company has a quick ratio of 0.89, a current ratio of 1.44 and a debt-to-equity ratio of 2.41. CVR Energy has a 52-week low of $19.62 and a 52-week high of $41.67.

CVR Energy (NYSE:CVI) last posted its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.70). CVR Energy had a negative net margin of 0.56% and a negative return on equity of 22.36%. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the firm earned ($0.58) EPS. The company’s revenue was up 20.3% on a year-over-year basis. Sell-side analysts forecast that CVR Energy will post 1.04 EPS for the current fiscal year.

CVR Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 18th. Shareholders of record on Monday, May 11th were given a dividend of $0.10 per share. The ex-dividend date was Monday, May 11th. This represents a $0.40 dividend on an annualized basis and a yield of 1.3%. CVR Energy’s payout ratio is -93.02%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Amundi increased its position in CVR Energy by 26.1% during the first quarter. Amundi now owns 20,381 shares of the oil and gas company’s stock valued at $686,000 after acquiring an additional 4,213 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of CVR Energy by 44.4% in the first quarter. EverSource Wealth Advisors LLC now owns 1,102 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 339 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of CVR Energy by 15.1% in the first quarter. Empowered Funds LLC now owns 21,171 shares of the oil and gas company’s stock worth $712,000 after purchasing an additional 2,772 shares during the last quarter. Entropy Technologies LP bought a new position in shares of CVR Energy in the first quarter worth about $634,000. Finally, Sei Investments Co. grew its holdings in shares of CVR Energy by 75.7% in the first quarter. Sei Investments Co. now owns 23,940 shares of the oil and gas company’s stock worth $806,000 after purchasing an additional 10,312 shares during the last quarter. Institutional investors own 98.88% of the company’s stock.

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.