The Goldman Sachs Group Lowers CVR Energy (NYSE:CVI) Price Target to $16.00

CVR Energy (NYSE:CVI) had its price target reduced by equities researchers at The Goldman Sachs Group from $19.00 to $16.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “sell” rating on the oil and gas company’s stock. The Goldman Sachs Group’s target price would suggest a potential downside of 19.27% from the stock’s current price.

Several other research analysts also recently weighed in on the stock. StockNews.com upgraded shares of CVR Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, February 19th. Mizuho raised their target price on CVR Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Five equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $22.00.

CVR Energy Price Performance

Shares of CVR Energy stock opened at $19.82 on Thursday. The firm has a market cap of $1.99 billion, a PE ratio of 330.37 and a beta of 1.55. The business has a 50-day moving average price of $19.53 and a 200 day moving average price of $20.18. The company has a quick ratio of 0.86, a current ratio of 1.66 and a debt-to-equity ratio of 2.15. CVR Energy has a twelve month low of $15.60 and a twelve month high of $38.07.

CVR Energy (NYSE:CVI) last posted its quarterly earnings data on Tuesday, February 18th. The oil and gas company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.85 billion. Sell-side analysts predict that CVR Energy will post -0.12 earnings per share for the current fiscal year.

Insider Transactions at CVR Energy

In related news, major shareholder Carl C. Icahn bought 206,571 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $17.79 per share, with a total value of $3,674,898.09. Following the purchase, the insider now directly owns 67,780,774 shares of the company’s stock, valued at $1,205,819,969.46. The trade was a 0.31 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have purchased a total of 1,492,540 shares of company stock worth $27,049,928 in the last ninety days. Insiders own 0.01% of the company’s stock.

Institutional Investors Weigh In On CVR Energy

Hedge funds have recently modified their holdings of the company. Thrivent Financial for Lutherans raised its position in shares of CVR Energy by 10.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 26,841 shares of the oil and gas company’s stock valued at $618,000 after buying an additional 2,639 shares during the period. Intech Investment Management LLC purchased a new stake in CVR Energy in the third quarter valued at $231,000. Charles Schwab Investment Management Inc. raised its position 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 valued at $14,719,000 after purchasing an additional 81,590 shares during the period. Larson Financial Group LLC lifted its stake in shares of CVR Energy by 640.9% in 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 during the last quarter. Finally, FMR LLC grew its holdings in shares of CVR Energy by 103.4% during 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 period. Hedge funds and other institutional investors own 98.88% of the company’s stock.

CVR Energy Company Profile

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.