Brokerages Set CVR Energy, Inc. (NYSE:CVI) Price Target at $24.75

Shares of CVR Energy, Inc. (NYSE:CVI) have earned a consensus recommendation of “Strong Sell” from the six research firms that are presently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $24.75.

A number of equities research analysts recently commented on CVI shares. UBS Group dropped their target price on CVR Energy from $33.75 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Tudor, Pickering, Holt & Co. lowered CVR Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. decreased their price objective on CVR Energy from $26.00 to $23.00 and set an “underweight” rating on the stock in a report on Wednesday, October 2nd. StockNews.com lowered CVR Energy from a “hold” rating to a “sell” rating in a report on Wednesday, October 30th. Finally, Mizuho cut their price objective on CVR Energy from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Monday, September 16th.

Hedge Funds Weigh In On CVR Energy

A number of institutional investors and hedge funds have recently made changes to their positions in CVI. Royce & Associates LP lifted its holdings in shares of CVR Energy by 58.1% during the third quarter. Royce & Associates LP now owns 101,043 shares of the oil and gas company’s stock worth $2,327,000 after purchasing an additional 37,130 shares during the period. Vanguard Group Inc. increased its position in shares of CVR Energy by 2.2% in the first quarter. Vanguard Group Inc. now owns 4,020,717 shares of the oil and gas company’s stock valued at $143,379,000 after buying an additional 85,773 shares in the last quarter. Neo Ivy Capital Management purchased a new position in shares of CVR Energy in the second quarter valued at $2,484,000. Millennium Management LLC purchased a new position in shares of CVR Energy in the second quarter valued at $2,889,000. Finally, Caxton Associates LP purchased a new position in shares of CVR Energy in the first quarter valued at $1,145,000. 98.88% of the stock is owned by institutional investors and hedge funds.

CVR Energy Stock Up 2.9 %

Shares of CVI opened at $19.29 on Friday. The firm has a market capitalization of $1.94 billion, a P/E ratio of 27.96 and a beta of 1.52. CVR Energy has a 12-month low of $15.60 and a 12-month high of $38.07. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 1.84. The firm has a fifty day moving average price of $21.55 and a 200-day moving average price of $24.52.

CVR Energy (NYSE:CVI) last announced its earnings results on Monday, October 28th. The oil and gas company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.41). The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.91 billion. CVR Energy had a return on equity of 2.88% and a net margin of 0.89%. The business’s revenue for the quarter was down 27.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.89 earnings per share. Equities research analysts expect that CVR Energy will post -0.12 earnings per share for the current year.

About CVR Energy

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.