CVR Energy Inc. (NYSE:CVI) Receives Consensus Recommendation of "Strong Sell" from Analysts

Key Points

• CVR Energy received a consensus “Strong Sell” rating from eight analysts: five recommend selling and three advise holding. The average 12-month price target is $30.50, below the reported opening price of $31.17.
• The company beat quarterly expectations, reporting adjusted earnings of $0.34 per share versus the $0.26 consensus and revenue of $2.74 billion versus $2.22 billion expected. Revenue increased 55.5% year over year, though net margin remained low at 0.81% and return on equity was negative.
• CVR Energy declared a quarterly dividend of $0.10 per share, equating to an annualized dividend of $0.40 and a 1.3% yield. Institutional investors own approximately 98.88% of the company’s stock.

CVR Energy Inc. (NYSE:CVI - Get Free Report) has been given a consensus recommendation of "Strong Sell" by the eight brokerages that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $30.50.

CVI has been the subject of a number of research reports. Tudor Pickering cut shares of CVR Energy from a "hold" rating to a "sell" rating in a report on Thursday, June 4th. UBS Group reissued a "neutral" rating and issued a $35.00 price target on shares of CVR Energy in a research report on Monday, June 29th. Wall Street Zen upgraded shares of CVR Energy from a "hold" rating to a "buy" rating in a research note 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 cut CVR Energy from a "sell (d+)" rating to a "sell (d-)" rating in a research note on Friday, May 15th.

CVR Energy Price Performance

CVI opened at $31.17 on Monday. The stock's 50-day moving average price is $31.48 and its 200 day moving average price is $29.82. CVR Energy has a 12-month low of $19.62 and a 12-month high of $41.67. 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 firm has a market cap of $3.13 billion, a price-to-earnings ratio of 45.84 and a beta of 0.83.

CVR Energy (NYSE:CVI - Get Free Report) last released its earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.08. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.22 billion. CVR Energy had a negative return on equity of 15.21% and a net margin of 0.81%.CVR Energy's revenue was up 55.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.23) EPS. As a group, sell-side analysts expect that CVR Energy will post 0.16 earnings per share for the current year.

CVR Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 10th will be issued a dividend of $0.10 per share. The ex-dividend date is Monday, August 10th. This represents a $0.40 annualized dividend and a yield of 1.3%. CVR Energy's dividend payout ratio is 58.82%.

Hedge Funds Weigh In On CVR Energy

Several hedge funds and other institutional investors have recently made changes to their positions in CVI. EverSource Wealth Advisors LLC raised its holdings in 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 acquiring an additional 339 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in CVR Energy by 51.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,142 shares of the oil and gas company's stock worth $38,000 after acquiring an additional 388 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in CVR Energy during the 4th quarter worth approximately $40,000. Horizon Investments LLC purchased a new stake in shares of CVR Energy in the 4th quarter valued at approximately $47,000. Finally, Quarry LP purchased a new stake in shares of CVR Energy in the 3rd quarter valued at approximately $50,000. Hedge funds and other institutional investors own 98.88% of the company's stock.

CVR Energy Company Profile

CVR Energy, Inc is an independent downstream energy company engaged primarily in petroleum refining and nitrogen fertilizer production in the United States. Headquartered in Sugar Land, Texas, CVR Energy operates through two reportable segments—Petroleum Products and Nitrogen Fertilizers—leveraging its refining expertise and distribution network to serve both wholesale and retail markets across key regions in the U.S.

In its Petroleum Products segment, the company owns and operates the Coffeyville, Kansas refinery, which has the capability to process various grades of crude oil into gasoline, diesel, jet fuel and other refined products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source