CVR Energy (NYSE:CVI) Downgraded to Sell Rating by Tudor Pickering

CVR Energy (NYSE:CVI) was downgraded by research analysts at Tudor Pickering from a “hold” rating to a “sell” rating in a research note issued on Thursday, Marketbeat Ratings reports.

CVI has been the subject of a number of other reports. Scotiabank lifted 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. The Goldman Sachs Group started coverage on CVR Energy in a research report on Friday, April 10th. They set a “sell” rating and a $30.00 price target on the stock. Mizuho lifted their price objective on CVR Energy from $32.00 to $35.00 and gave the company an “underperform” rating in a report on Wednesday, May 27th. Weiss Ratings lowered shares of CVR Energy from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Friday, May 15th. Finally, Wall Street Zen upgraded shares of CVR Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Two investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Strong Sell” and a consensus target price of $32.50.

CVR Energy Trading Down 0.1%

Shares of CVI opened at $35.61 on Thursday. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of -82.81 and a beta of 0.80. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.44 and a quick ratio of 0.89. CVR Energy has a 1-year low of $19.62 and a 1-year high of $41.67. The company has a 50-day moving average of $32.82 and a 200 day moving average of $29.22.

CVR Energy (NYSE:CVI) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported ($1.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.70). The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.73 billion. CVR Energy had a negative return on equity of 22.36% and a negative net margin of 0.56%.The business’s revenue was up 20.3% compared to the same quarter last year. During the same period last year, the business posted ($0.58) earnings per share. On average, research analysts expect that CVR Energy will post 1.04 EPS for the current year.

Hedge Funds Weigh In On CVR Energy

A number of large investors have recently added to or reduced their stakes in CVI. EverSource Wealth Advisors LLC increased its stake 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 acquiring an additional 339 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in CVR Energy by 2.2% in the third quarter. Illinois Municipal Retirement Fund now owns 17,081 shares of the oil and gas company’s stock valued at $623,000 after acquiring an additional 363 shares during the period. PNC Financial Services Group Inc. boosted its holdings in CVR Energy by 51.5% during the first quarter. PNC Financial Services Group Inc. now owns 1,142 shares of the oil and gas company’s stock worth $38,000 after buying an additional 388 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in CVR Energy by 2.9% during the third quarter. Victory Capital Management Inc. now owns 21,329 shares of the oil and gas company’s stock worth $778,000 after buying an additional 596 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in CVR Energy by 1.5% during the third quarter. Alliancebernstein L.P. now owns 48,943 shares of the oil and gas company’s stock valued at $1,785,000 after buying an additional 700 shares during the period. 98.88% of the stock is currently owned by institutional investors.

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.