CVR Energy (NYSE:CVI) Price Target Raised to $29.00

CVR Energy (NYSE:CVI) had its target price boosted by Mizuho from $28.00 to $29.00 in a report published on Tuesday morning,Benzinga reports. They currently have an underperform rating on the oil and gas company’s stock.

Several other brokerages also recently issued reports on CVI. Tudor Pickering downgraded CVR Energy from a “hold” rating to a “sell” rating in a research report on Thursday, June 4th. Zacks Research cut CVR Energy from a “hold” rating to a “strong sell” rating in a report on Monday, July 6th. UBS Group restated a “neutral” rating and issued a $35.00 target price on shares of CVR Energy in a research note on Monday, June 29th. Wall Street Zen raised CVR Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Finally, Scotiabank upped their price target on shares of CVR Energy from $25.00 to $28.00 and gave the stock a “sector underperform” rating in a research report on Wednesday, April 22nd. Three analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, CVR Energy currently has an average rating of “Strong Sell” and an average target price of $30.50.

CVR Energy Price Performance

Shares of CVR Energy stock opened at $31.28 on Tuesday. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of 46.00 and a beta of 0.83. The firm’s 50-day moving average price is $31.52 and its two-hundred day moving average price is $29.77. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 2.38. CVR Energy has a 1-year low of $19.62 and a 1-year high of $41.67.

CVR Energy (NYSE:CVI) last posted its earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.22 billion. CVR Energy had a net margin of 0.81% and a negative return on equity of 15.21%. CVR Energy’s quarterly revenue was up 55.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.23) earnings per share. On average, equities analysts predict that CVR Energy will post 0.16 earnings per share for the current fiscal year.

CVR Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 10th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.40 annualized dividend and a yield of 1.3%. CVR Energy’s dividend payout ratio is currently 58.82%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CVI. Royal Bank of Canada lifted its stake in shares of CVR Energy by 67.2% during the first quarter. Royal Bank of Canada now owns 14,904 shares of the oil and gas company’s stock valued at $289,000 after acquiring an additional 5,992 shares during the period. AQR Capital Management LLC acquired a new stake in CVR Energy in the first quarter worth about $611,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in CVR Energy by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,301 shares of the oil and gas company’s stock worth $394,000 after purchasing an additional 858 shares during the period. Goldman Sachs Group Inc. raised its holdings in CVR Energy by 14.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 496,650 shares of the oil and gas company’s stock worth $9,635,000 after purchasing an additional 63,909 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in CVR Energy by 34.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 273,777 shares of the oil and gas company’s stock worth $7,351,000 after purchasing an additional 69,726 shares during the last quarter. 98.88% of the stock is currently owned by institutional investors.

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.