CVR Energy (NYSE:CVI) Price Target Raised to $52.00

Key Points

• Mizuho raised CVR Energy’s price target to $52 from $29 but maintained an “underperform” rating, implying about 9.3% downside from the stock’s $57.34 price.
• Analyst sentiment remains cautious: CVR Energy has an average “Reduce” rating and a consensus price target of $40.75, despite some recent upgrades from other firms.
• CVR Energy exceeded quarterly expectations, reporting $0.34 in earnings per share versus a $0.26 estimate and $2.74 billion in revenue, up 55.5% year over year.

CVR Energy (NYSE:CVI - Get Free Report) had its price target boosted by research analysts at Mizuho from $29.00 to $52.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an "underperform" rating on the oil and gas company's stock. Mizuho's target price would suggest a potential downside of 9.31% from the company's current price.

A number of other equities analysts have also recently commented on the company. UBS Group raised their target price on CVR Energy from $35.00 to $53.00 and gave the stock a "neutral" rating in a report on Friday, October 2nd. Wall Street Zen upgraded CVR Energy from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Zacks Research raised CVR Energy from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings upgraded CVR Energy from a "sell (d-)" rating to a "hold (c)" rating in a research note on Tuesday, September 22nd. Four investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, CVR Energy has an average rating of "Reduce" and a consensus price target of $40.75.

CVR Energy Stock Performance

CVI opened at $57.34 on Thursday. The company's 50 day moving average is $43.92 and its 200 day moving average is $36.18. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 2.38. The company has a market cap of $5.76 billion, a price-to-earnings ratio of 84.32 and a beta of 0.90. CVR Energy has a 12-month low of $19.62 and a 12-month high of $58.92.

CVR Energy (NYSE:CVI - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.08. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.22 billion. CVR Energy had a net margin of 0.81% and a negative return on equity of 15.21%. The company's quarterly revenue was up 55.5% on a year-over-year basis. During the same period last year, the firm earned ($0.23) earnings per share. On average, equities research analysts predict that CVR Energy will post 1.56 EPS for the current year.

Hedge Funds Weigh In On CVR Energy

A number of hedge funds have recently made changes to their positions in the business. Nykredit A S purchased a new position in CVR Energy in the 2nd quarter worth approximately $29,000. EverSource Wealth Advisors LLC raised its position in shares of CVR Energy by 44.4% during the first quarter. EverSource Wealth Advisors LLC now owns 1,102 shares of the oil and gas company's stock valued at $37,000 after buying an additional 339 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of CVR Energy by 51.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,142 shares of the oil and gas company's stock worth $38,000 after buying an additional 388 shares in the last quarter. CX Institutional boosted its position in shares of CVR Energy by 5,362.5% during the third quarter. CX Institutional now owns 1,311 shares of the oil and gas company's stock worth $67,000 after acquiring an additional 1,287 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in shares of CVR Energy during the second quarter worth $92,000. Institutional investors own 98.88% of the company's stock.

CVR Energy Company Profile

CVR Energy, Inc is a diversified energy company engaged primarily in petroleum refining and nitrogen fertilizer production. Headquartered in Sugar Land, Texas, the company operates through subsidiaries that serve customers in the United States, with activities concentrated in the Midcontinent region.

Through its refining operations, CVR Energy processes crude oil into transportation fuels and other refined products, including gasoline, diesel fuel, jet fuel and asphalt. Its refineries are located in Coffeyville, Kansas, and Wynnewood, Oklahoma, and are supported by related logistics, storage and transportation assets.

CVR Energy also owns and operates nitrogen fertilizer facilities through CVR Partners, LP.

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