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

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

Several research firms recently weighed in on CVI. StockNews.com upgraded shares of CVR Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, February 19th. The Goldman Sachs Group dropped their price target on CVR Energy from $24.00 to $21.00 and set a “sell” rating on the stock in a research report on Friday, December 6th. Finally, Mizuho boosted their price objective on CVR Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, December 16th.

Insider Activity at CVR Energy

In other news, major shareholder Carl C. Icahn bought 3,610 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average price of $18.24 per share, with a total value of $65,846.40. Following the completion of the acquisition, the insider now directly owns 67,574,203 shares in the company, valued at approximately $1,232,553,462.72. This trade represents a 0.01 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased a total of 1,088,393 shares of company stock worth $19,768,113 over the last ninety days. 0.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CVR Energy

Hedge funds have recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of CVR Energy in the third quarter valued at $43,000. R Squared Ltd acquired a new stake in CVR Energy in the 4th quarter valued at about $36,000. PNC Financial Services Group Inc. lifted its holdings in CVR Energy by 55.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,052 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 731 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of CVR Energy by 640.9% during the 3rd quarter. Larson Financial Group LLC now owns 3,119 shares of the oil and gas company’s stock valued at $72,000 after purchasing an additional 2,698 shares in the last quarter. Finally, FMR LLC grew its stake in shares of CVR Energy by 103.4% in the 3rd quarter. FMR LLC now owns 4,031 shares of the oil and gas company’s stock worth $93,000 after purchasing an additional 2,049 shares during the last quarter. 98.88% of the stock is currently owned by institutional investors and hedge funds.

CVR Energy Price Performance

Shares of CVI opened at $18.16 on Monday. The company has a current ratio of 1.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.15. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 302.63 and a beta of 1.57. CVR Energy has a 52 week low of $15.60 and a 52 week high of $38.07. The stock has a 50 day moving average of $19.37 and a 200-day moving average of $20.69.

CVR Energy (NYSE:CVI) last released its earnings results on Tuesday, February 18th. The oil and gas company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.12). CVR Energy had a net margin of 0.09% and a negative return on equity of 5.12%. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.85 billion. As a group, analysts forecast that CVR Energy will post -0.12 EPS 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.