Analysts Set CVR Energy, Inc. (NYSE:CVI) Target Price at $23.00

Shares of CVR Energy, Inc. (NYSE:CVI) have earned an average recommendation of “Strong Sell” from the seven brokerages that are presently covering the company, MarketBeat reports. Five analysts have rated the stock with a sell recommendation and two have assigned a hold recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $23.00.

Several equities research analysts have commented on the stock. Scotiabank dropped their price target on shares of CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating on the stock in a research report on Thursday, October 10th. JPMorgan Chase & Co. cut their target price on shares of CVR Energy from $26.00 to $23.00 and set an “underweight” rating for the company in a research note on Wednesday, October 2nd. Tudor, Pickering, Holt & Co. lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. StockNews.com downgraded CVR Energy from a “hold” rating to a “sell” rating in a research report on Saturday, December 14th. Finally, Tudor Pickering upgraded CVR Energy to a “strong sell” rating in a report on Monday, September 9th.

CVR Energy Stock Up 0.3 %

CVR Energy stock opened at $18.01 on Wednesday. CVR Energy has a 52 week low of $15.60 and a 52 week high of $38.07. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 26.10 and a beta of 1.57. The company’s 50-day moving average price is $19.80 and its two-hundred day moving average price is $23.31. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 1.84.

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 analysts’ consensus estimates of ($0.09) by ($0.41). The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.91 billion. CVR Energy had a net margin of 0.89% and a return on equity of 2.88%. CVR Energy’s revenue was down 27.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.89 EPS. On average, analysts expect that CVR Energy will post -0.12 EPS for the current fiscal year.

Institutional Trading of CVR Energy

Several hedge funds and other institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its position in CVR Energy by 14.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 639,138 shares of the oil and gas company’s stock worth $14,719,000 after acquiring an additional 81,590 shares during the period. Royce & Associates LP boosted 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. Hotchkis & Wiley Capital Management LLC purchased a new position in CVR Energy during the third quarter valued at approximately $5,335,000. Advisors Asset Management Inc. increased its stake in CVR Energy by 37.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 352,075 shares of the oil and gas company’s stock valued at $8,108,000 after buying an additional 95,371 shares during the period. Finally, Millennium Management LLC purchased a new stake in CVR Energy in the 2nd quarter worth approximately $2,889,000. Institutional investors and hedge funds own 98.88% of the company’s stock.

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.