Mizuho Reiterates Underperform Rating for CVR Energy (NYSE:CVI)

Key Points

• Mizuho has downgraded CVR Energy's rating from "neutral" to "underperform," with a new price target of $29.00, indicating a potential downside of 7.02% from its current price.
• The stock currently has a consensus rating of "Strong Sell" from analysts, with five rating the stock as a Sell and a consensus target price of $23.25.
• CVR Energy reported a quarterly loss of ($0.23) earnings per share, significantly missing the consensus estimate, while its revenue for the quarter was down 10.5% year-over-year.

CVR Energy (NYSE:CVI - Get Free Report)'s stock had its "underperform" rating restated by equities researchers at Mizuho in a report issued on Monday, Marketbeat.com reports. They presently have a $29.00 target price on the oil and gas company's stock, up from their previous target price of $27.00. Mizuho's target price indicates a potential downside of 7.02% from the company's previous close.

Several other equities research analysts have also weighed in on CVI. Scotiabank lifted their price target on CVR Energy from $21.00 to $25.00 and gave the company a "sector underperform" rating in a research report on Friday, July 11th. Raymond James Financial lowered CVR Energy from a "market perform" rating to an "underperform" rating in a research report on Tuesday, July 15th. Five analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Strong Sell" and a consensus target price of $23.25.

CVR Energy Stock Performance

Shares of NYSE CVI opened at $31.19 on Monday. The stock's 50-day moving average is $28.86 and its 200 day moving average is $24.15. The company has a current ratio of 1.17, a quick ratio of 0.75 and a debt-to-equity ratio of 2.78. CVR Energy has a 1-year low of $15.10 and a 1-year high of $33.24. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of -9.39 and a beta of 1.32.

CVR Energy (NYSE:CVI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The oil and gas company reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.15). The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.73 billion. CVR Energy had a negative return on equity of 18.11% and a negative net margin of 4.63%.CVR Energy's quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.09 earnings per share. On average, sell-side analysts anticipate that CVR Energy will post -0.12 EPS for the current fiscal year.

Institutional Trading of CVR Energy

A number of hedge funds have recently bought and sold shares of the company. Public Sector Pension Investment Board increased its position in CVR Energy by 7.4% during the second quarter. Public Sector Pension Investment Board now owns 116,358 shares of the oil and gas company's stock valued at $3,124,000 after acquiring an additional 8,001 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in CVR Energy by 13.7% in the second quarter. CANADA LIFE ASSURANCE Co now owns 34,495 shares of the oil and gas company's stock worth $927,000 after buying an additional 4,145 shares in the last quarter. Tower Research Capital LLC TRC increased its position in CVR Energy by 432.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,846 shares of the oil and gas company's stock worth $184,000 after buying an additional 5,560 shares in the last quarter. Voleon Capital Management LP purchased a new stake in CVR Energy in the second quarter worth about $285,000. Finally, BNP Paribas Financial Markets increased its position in CVR Energy by 48.0% in the second quarter. BNP Paribas Financial Markets now owns 3,633 shares of the oil and gas company's stock worth $98,000 after buying an additional 1,178 shares in the last quarter. 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.