CVR Energy (NYSE:CVI) Price Target Cut to $23.00

CVR Energy (NYSE:CVI) had its price target dropped by research analysts at JPMorgan Chase & Co. from $26.00 to $23.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “underweight” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 2.54% from the stock’s current price.

A number of other research firms also recently commented on CVI. Scotiabank upped their price objective on CVR Energy from $24.00 to $25.00 and gave the stock a “sector underperform” rating in a report on Wednesday, July 31st. UBS Group cut their price target on shares of CVR Energy from $33.75 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Mizuho decreased their price objective on shares of CVR Energy from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. StockNews.com downgraded CVR Energy from a “buy” rating to a “hold” rating in a report on Sunday, June 16th. Finally, Tudor Pickering upgraded CVR Energy to a “strong sell” rating in a research note on Monday, September 9th. Four research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $25.75.

CVR Energy Trading Up 0.4 %

NYSE CVI traded up $0.10 during mid-day trading on Wednesday, reaching $23.60. 272,396 shares of the stock were exchanged, compared to its average volume of 1,043,668. The business’s fifty day simple moving average is $24.59 and its 200 day simple moving average is $28.08. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.93 and a current ratio of 1.46. The stock has a market capitalization of $2.37 billion, a PE ratio of 3.62 and a beta of 1.49. CVR Energy has a 1-year low of $21.05 and a 1-year high of $38.07.

CVR Energy (NYSE:CVI) last released its earnings results on Monday, July 29th. The oil and gas company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.30) by $0.39. CVR Energy had a return on equity of 25.00% and a net margin of 6.39%. The firm had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the firm posted $1.64 earnings per share. The business’s quarterly revenue was down 12.0% compared to the same quarter last year. On average, research analysts anticipate that CVR Energy will post 0.5 earnings per share for the current fiscal year.

Institutional Trading of CVR Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp acquired a new position in shares of CVR Energy in the 4th quarter valued at approximately $33,000. Headlands Technologies LLC grew its holdings in CVR Energy by 820.5% during the 2nd quarter. Headlands Technologies LLC now owns 1,482 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 1,321 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of CVR Energy in the 1st quarter worth about $71,000. Covestor Ltd increased its holdings in shares of CVR Energy by 45,560.0% in the 1st quarter. Covestor Ltd now owns 2,283 shares of the oil and gas company’s stock valued at $81,000 after acquiring an additional 2,278 shares during the last quarter. Finally, Scarborough Advisors LLC acquired a new stake in shares of CVR Energy during the fourth quarter worth $89,000. 98.88% of the stock is owned by hedge funds and other institutional investors.

CVR Energy Company Profile

CVR Energy, Inc, together with its subsidiaries, engages in the petroleum refining and marketing, and nitrogen fertilizer manufacturing activities in the United States. It operates in two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment refines and supplies gasoline, crude oil, distillate, diesel fuel, and other refined products.