CVR Energy Inc. (NYSE:CVI) Receives $23.00 Average Price Target from Analysts

Shares of CVR Energy Inc. (NYSE:CVI - Get Free Report) have been assigned an average recommendation of "Strong Sell" from the seven research firms that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $23.00.

CVI has been the topic of a number of research reports. Mizuho boosted their price target on CVR Energy from $21.00 to $25.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Wall Street Zen lowered CVR Energy from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. Scotiabank restated an "underperform" rating on shares of CVR Energy in a report on Monday, May 5th. Finally, The Goldman Sachs Group cut their price target on CVR Energy from $19.00 to $16.00 and set a "sell" rating on the stock in a report on Thursday, March 27th.

Insider Activity

In other CVR Energy news, major shareholder Carl C. Icahn purchased 7,907 shares of the stock in a transaction on Tuesday, April 29th. The shares were purchased at an average price of $18.21 per share, with a total value of $143,986.47. Following the completion of the transaction, the insider directly owned 70,418,471 shares in the company, valued at $1,282,320,356.91. This represents a 0.01% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought a total of 722,124 shares of company stock valued at $12,577,659 over the last 90 days. 0.01% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CVR Energy

A number of institutional investors have recently bought and sold shares of CVI. Amanah Holdings Trust acquired a new position in CVR Energy during the second quarter worth approximately $17,996,000. Two Sigma Investments LP grew its position in shares of CVR Energy by 56.2% in the fourth quarter. Two Sigma Investments LP now owns 750,195 shares of the oil and gas company's stock valued at $14,059,000 after purchasing an additional 269,763 shares during the last quarter. Millennium Management LLC grew its position in shares of CVR Energy by 1,203.0% in the fourth quarter. Millennium Management LLC now owns 286,100 shares of the oil and gas company's stock valued at $5,362,000 after purchasing an additional 264,143 shares during the last quarter. ExodusPoint Capital Management LP grew its position in shares of CVR Energy by 744.9% in the fourth quarter. ExodusPoint Capital Management LP now owns 293,129 shares of the oil and gas company's stock valued at $5,493,000 after purchasing an additional 258,436 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of CVR Energy by 12.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,181,295 shares of the oil and gas company's stock valued at $40,876,000 after purchasing an additional 238,081 shares during the last quarter. Institutional investors and hedge funds own 98.88% of the company's stock.

CVR Energy Trading Up 1.1%

Shares of NYSE:CVI traded up $0.32 during midday trading on Friday, hitting $30.53. The company had a trading volume of 858,664 shares, compared to its average volume of 1,239,037. CVR Energy has a 12 month low of $15.10 and a 12 month high of $30.74. The company has a current ratio of 1.32, a quick ratio of 0.85 and a debt-to-equity ratio of 2.47. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of -15.50 and a beta of 1.16. The firm has a fifty day simple moving average of $24.45 and a 200 day simple moving average of $20.90.

CVR Energy (NYSE:CVI - Get Free Report) last posted its earnings results on Monday, April 28th. The oil and gas company reported ($0.58) earnings per share for the quarter, topping the consensus estimate of ($0.90) by $0.32. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.61 billion. CVR Energy had a negative return on equity of 12.66% and a negative net margin of 2.68%. The company's revenue for the quarter was down 11.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.04 earnings per share. On average, analysts predict that CVR Energy will post -0.12 EPS for the current year.

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.