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

Shares of CVR Energy, Inc. (NYSE:CVI) have been assigned an average recommendation of “Strong Sell” from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $23.00.

CVI has been the subject of a number of research reports. The Goldman Sachs Group reduced their price target on shares of CVR Energy from $24.00 to $21.00 and set a “sell” rating for the company in a research report on Friday, December 6th. StockNews.com cut CVR Energy from a “hold” rating to a “sell” rating in a research note on Saturday, December 14th. Mizuho raised their target price on shares of CVR Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Scotiabank cut their target price on shares of CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating on the stock in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. decreased their price target 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.

CVR Energy Trading Up 0.5 %

NYSE:CVI opened at $20.51 on Friday. CVR Energy has a 12-month low of $15.60 and a 12-month high of $38.07. The firm has a market cap of $2.06 billion, a PE ratio of 29.72 and a beta of 1.58. 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 stock has a fifty day moving average price of $18.65 and a 200 day moving average price of $22.26.

CVR Energy (NYSE:CVI) last issued its earnings results on Monday, October 28th. The oil and gas company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.41). The firm had revenue of $1.83 billion during 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%. The firm’s revenue was down 27.3% compared to the same quarter last year. During the same period last year, the business earned $1.89 EPS. Sell-side analysts anticipate that CVR Energy will post -0.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CVR Energy news, major shareholder Carl C. Icahn purchased 878,212 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were purchased at an average cost of $18.25 per share, for a total transaction of $16,027,369.00. Following the completion of the purchase, the insider now directly owns 67,570,593 shares in the company, valued at $1,233,163,322.25. This represents a 1.32 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.01% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CVR Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC increased its holdings in shares of CVR Energy by 820.5% in the 2nd quarter. Headlands Technologies LLC now owns 1,482 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 1,321 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in CVR Energy during the third quarter worth about $43,000. Future Financial Wealth Managment LLC purchased a new position in CVR Energy in the third quarter valued at about $46,000. Larson Financial Group LLC increased its holdings in CVR Energy by 640.9% in the third quarter. Larson Financial Group LLC now owns 3,119 shares of the oil and gas company’s stock valued at $72,000 after buying an additional 2,698 shares in the last quarter. Finally, Quest Partners LLC lifted its position in shares of CVR Energy by 47.3% during the 2nd quarter. Quest Partners LLC now owns 3,485 shares of the oil and gas company’s stock valued at $93,000 after acquiring an additional 1,119 shares during the period. 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.