CVR Energy (NYSE:CVI) Cut to “Sell” at StockNews.com

CVR Energy (NYSE:CVI) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Saturday.

Other analysts also recently issued research reports about the stock. Tudor, Pickering, Holt & Co. downgraded shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Scotiabank lowered their price target on CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating on the stock in a report on Thursday, October 10th. JPMorgan Chase & Co. lowered their target price on shares of CVR Energy from $26.00 to $23.00 and set an “underweight” rating on the stock in a report on Wednesday, October 2nd. Mizuho reduced their price target on CVR Energy from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Finally, Tudor Pickering raised CVR Energy to a “strong sell” rating in a report on Monday, September 9th. Six investment analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $24.00.

CVR Energy Stock Down 0.7 %

CVR Energy stock opened at $18.91 on Friday. CVR Energy has a fifty-two week low of $15.60 and a fifty-two week high of $38.07. The firm has a 50 day moving average price of $20.30 and a 200 day moving average price of $23.60. The company has a market capitalization of $1.90 billion, a PE ratio of 27.41 and a beta of 1.57. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.86 and a current ratio of 1.33.

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

Institutional Investors Weigh In On CVR Energy

Hedge funds have recently modified their holdings of the stock. State Street Corp boosted its position in CVR Energy by 18.1% during the 3rd quarter. State Street Corp now owns 2,075,058 shares of the oil and gas company’s stock worth $47,789,000 after purchasing an additional 317,475 shares during the period. Dimensional Fund Advisors LP grew its position in shares of CVR Energy by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,072,334 shares of the oil and gas company’s stock worth $55,476,000 after acquiring an additional 44,636 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of CVR Energy by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 975,323 shares of the oil and gas company’s stock valued at $26,109,000 after acquiring an additional 3,134 shares during the last quarter. SIR Capital Management L.P. acquired a new stake in shares of CVR Energy during the 2nd quarter valued at approximately $17,907,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in CVR Energy by 14.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 639,138 shares of the oil and gas company’s stock worth $14,719,000 after purchasing an additional 81,590 shares during the period. 98.88% of the stock is owned by institutional investors and hedge funds.

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.