CVR Energy (NYSE:CVI) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of CVR Energy (NYSE:CVI) from a hold rating to a sell rating in a research note published on Saturday morning.

CVI has been the topic of a number of other research reports. Mizuho boosted their price objective on CVR Energy from $28.00 to $32.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 17th. The Goldman Sachs Group boosted their target price on CVR Energy from $22.00 to $25.00 and gave the stock a “sell” rating in a research report on Thursday, March 12th. Raymond James Financial raised CVR Energy from an “underperform” rating to a “market perform” rating in a research report on Wednesday, March 25th. Weiss Ratings lowered CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research report on Friday, February 20th. Finally, Scotiabank raised CVR Energy to a “strong sell” rating in a research report on Friday, March 27th. Two research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Strong Sell” and a consensus price target of $30.00.

CVR Energy Stock Up 2.6%

CVI opened at $32.48 on Friday. CVR Energy has a one year low of $15.10 and a one year high of $41.67. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.13 and a current ratio of 1.79. The stock’s fifty day moving average is $26.74 and its 200-day moving average is $30.22. The company has a market capitalization of $3.26 billion, a PE ratio of 124.91 and a beta of 0.94.

CVR Energy (NYSE:CVI) last posted its quarterly earnings data on Wednesday, February 18th. The oil and gas company reported ($0.80) EPS for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.04. CVR Energy had a negative return on equity of 14.31% and a net margin of 0.38%.The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the business earned ($0.13) EPS. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. On average, equities analysts predict that CVR Energy will post -0.12 EPS for the current fiscal year.

CVR Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Monday, March 2nd were paid a $0.37 dividend. The ex-dividend date was Monday, March 2nd. This represents a $1.48 dividend on an annualized basis and a yield of 4.6%.

Insider Buying and Selling

In other news, major shareholder Carl C. Icahn bought 275,012 shares of the stock in a transaction on Tuesday, February 24th. The shares were purchased at an average price of $21.41 per share, for a total transaction of $5,888,006.92. Following the completion of the purchase, the insider directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought a total of 783,404 shares of company stock valued at $16,445,044 in the last quarter. Insiders own 0.01% of the company’s stock.

Institutional Trading of CVR Energy

Large investors have recently made changes to their positions in the stock. Quarry LP bought a new stake in shares of CVR Energy during the 3rd quarter worth about $50,000. Aster Capital Management DIFC Ltd bought a new stake in shares of CVR Energy during the 4th quarter worth about $40,000. Exchange Traded Concepts LLC bought a new stake in shares of CVR Energy during the 4th quarter worth about $47,000. Horizon Investments LLC bought a new stake in shares of CVR Energy during the 4th quarter worth about $47,000. Finally, Raymond James Financial Inc. acquired a new position in shares of CVR Energy during the 2nd quarter worth about $53,000. 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.