CVR Energy Inc. (NYSE:CVI) Stock Has Average Price Target of $30.50 According to Brokerages

Key Points

• Analyst sentiment is bearish: Eight research firms give CVR Energy an average “Reduce” rating, split between four sells and four holds, with an average 12-month price target of $30.50.
• Institutional ownership remains high: Hedge funds and other institutions own 98.88% of the stock, with several investors increasing their positions recently.
• Recent results exceeded expectations: CVR Energy reported quarterly EPS of $0.34 versus a $0.26 consensus estimate and revenue of $2.74 billion, while maintaining a $0.10 quarterly dividend, equivalent to a 0.8% yield.

Shares of CVR Energy Inc. (NYSE:CVI - Get Free Report) have been given an average rating of "Reduce" by the eight research firms that are covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $30.50.

CVI has been the topic of several recent analyst reports. Weiss Ratings upgraded CVR Energy from a "sell (d-)" rating to a "hold (c)" rating in a report on Tuesday, September 22nd. Tudor Pickering lowered CVR Energy from a "hold" rating to a "sell" rating in a research report on Thursday, June 4th. Wall Street Zen upgraded CVR Energy from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Zacks Research upgraded CVR Energy from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. Finally, Mizuho increased their target price on CVR Energy from $28.00 to $29.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 4th.

Institutional Investors Weigh In On CVR Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC boosted its position in CVR Energy by 2.5% during the second quarter. NewEdge Advisors LLC now owns 13,890 shares of the oil and gas company's stock worth $383,000 after purchasing an additional 336 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of CVR Energy by 44.4% in 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 purchasing an additional 339 shares during the period. PNC Financial Services Group Inc. raised its position 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 valued at $38,000 after purchasing an additional 388 shares during the period. Nykredit A S acquired a new stake in shares of CVR Energy during the 2nd quarter worth about $29,000. Finally, New York State Teachers Retirement System lifted its stake in shares of CVR Energy by 13.1% during the 1st quarter. New York State Teachers Retirement System now owns 11,666 shares of the oil and gas company's stock worth $393,000 after buying an additional 1,354 shares during the last quarter. 98.88% of the stock is currently owned by institutional investors and hedge funds.

CVR Energy Stock Down 1.4%

Shares of NYSE:CVI opened at $50.77 on Tuesday. The company has a 50 day moving average price of $41.08 and a two-hundred day moving average price of $34.96. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.92 and a current ratio of 1.42. The company has a market capitalization of $5.10 billion, a PE ratio of 74.67 and a beta of 0.85. CVR Energy has a 52 week low of $19.62 and a 52 week high of $55.19.

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

CVR Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 10th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, August 10th. CVR Energy's dividend payout ratio is 58.82%.

CVR Energy Company Profile

CVR Energy, Inc NYSE: CVI is a diversified energy company that operates through its petroleum refining and nitrogen fertilizer businesses. The company's operations are primarily located in the Mid-Continent region of the United States.

Through its petroleum segment, CVR Energy owns and operates refineries in Coffeyville, Kansas, and Wynnewood, Oklahoma. These facilities process crude oil into transportation fuels and other refined products, including gasoline, diesel fuel, jet fuel, and asphalt.

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