CVR Energy (NYSE:CVI) Hits New 52-Week High After Analyst Upgrade

Shares of CVR Energy Inc. (NYSE:CVI) hit a new 52-week high on Thursday after Wall Street Zen upgraded the stock from a buy rating to a strong-buy rating. The company traded as high as $58.92 and last traded at $57.3380, with a volume of 623,318 shares traded. The stock had previously closed at $57.42.

Several other equities analysts have also commented on the stock. Mizuho increased their price objective on shares of CVR Energy from $29.00 to $52.00 and gave the company an “underperform” rating in a research report on Thursday. UBS Group upped their price target on CVR Energy from $35.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, October 2nd. Weiss Ratings raised shares of CVR Energy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday. Zacks Research upgraded CVR Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, The Goldman Sachs Group boosted their price objective on CVR Energy from $36.00 to $50.00 and gave the company a “sell” rating in a research note on Friday. Four investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $45.75.

Institutional Investors Weigh In On CVR Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nykredit A S acquired a new position in CVR Energy during the second quarter worth $29,000. EverSource Wealth Advisors LLC grew its position in CVR Energy by 44.4% during the first quarter. EverSource Wealth Advisors LLC now owns 1,102 shares of the oil and gas company’s stock worth $37,000 after buying an additional 339 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of CVR Energy by 51.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,142 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 388 shares in the last quarter. Farther Finance Advisors LLC grew its stake in CVR Energy by 197.2% during the third quarter. Farther Finance Advisors LLC now owns 1,153 shares of the oil and gas company’s stock worth $59,000 after buying an additional 765 shares in the last quarter. Finally, CX Institutional increased its stake in CVR Energy by 5,362.5% in the third quarter. CX Institutional now owns 1,311 shares of the oil and gas company’s stock valued at $67,000 after acquiring an additional 1,287 shares during the last quarter. Institutional investors own 98.88% of the company’s stock.

CVR Energy Stock Performance

The stock has a market cap of $5.83 billion, a price-to-earnings ratio of 85.30 and a beta of 0.90. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 2.38. The company has a 50 day simple moving average of $44.79 and a 200 day simple moving average of $36.51.

CVR Energy (NYSE:CVI) last released its earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.26 by $0.08. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.22 billion. CVR Energy had a negative return on equity of 15.21% and a net margin of 0.81%. The firm’s revenue was up 55.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.23) earnings per share. As a group, equities research analysts forecast that CVR Energy Inc. will post 1.56 EPS for the current year.

CVR Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 10th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, August 10th. CVR Energy’s dividend payout ratio is 58.82%.

CVR Energy Company Profile

CVR Energy, Inc is a diversified energy company engaged primarily in petroleum refining and nitrogen fertilizer production. Headquartered in Sugar Land, Texas, the company operates through subsidiaries that serve customers in the United States, with activities concentrated in the Midcontinent region.

Through its refining operations, CVR Energy processes crude oil into transportation fuels and other refined products, including gasoline, diesel fuel, jet fuel and asphalt. Its refineries are located in Coffeyville, Kansas, and Wynnewood, Oklahoma, and are supported by related logistics, storage and transportation assets.

CVR Energy also owns and operates nitrogen fertilizer facilities through CVR Partners, LP.