Mizuho Reaffirms "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.

Mizuho reiterated their underperform rating on shares of CVR Energy (NYSE:CVI - Free Report) in a research report report published on Monday morning, MarketBeat.com reports. They currently have a $29.00 target price on the oil and gas company's stock, up from their previous target price of $27.00.

Several other analysts also recently issued reports on CVI. Scotiabank boosted their price target on CVR Energy from $21.00 to $25.00 and gave the company a "sector underperform" rating in a research note on Friday, July 11th. Raymond James Financial downgraded CVR Energy from a "market perform" rating to an "underperform" rating in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Strong Sell" and an average price target of $23.25.

CVR Energy Stock Up 0.0%

NYSE CVI traded up $0.01 during trading on Monday, hitting $33.88. The stock had a trading volume of 1,318,090 shares, compared to its average volume of 1,251,301. The company has a market capitalization of $3.41 billion, a PE ratio of -10.23 and a beta of 1.32. The company's 50-day moving average price is $28.98 and its two-hundred day moving average price is $24.47. The company has a debt-to-equity ratio of 2.78, a quick ratio of 0.75 and a current ratio of 1.17. CVR Energy has a 12 month low of $15.10 and a 12 month high of $34.12.

CVR Energy (NYSE:CVI - Get Free Report) last posted its earnings results 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 for the quarter, compared to analyst estimates of $1.73 billion. CVR Energy had a negative return on equity of 18.11% and a negative net margin of 4.63%.The firm's revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 earnings per share. As a group, sell-side analysts forecast that CVR Energy will post -0.12 EPS for the current year.

Institutional Investors Weigh In On CVR Energy

Several institutional investors and hedge funds have recently made changes to their positions in CVI. Matrix Trust Co acquired a new stake in shares of CVR Energy in the second quarter valued at about $26,000. Harbor Capital Advisors Inc. lifted its holdings in shares of CVR Energy by 65.5% in the first quarter. Harbor Capital Advisors Inc. now owns 1,633 shares of the oil and gas company's stock valued at $32,000 after purchasing an additional 646 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of CVR Energy by 1,030.2% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,944 shares of the oil and gas company's stock valued at $38,000 after purchasing an additional 1,772 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of CVR Energy by 106.6% in the first quarter. GAMMA Investing LLC now owns 2,159 shares of the oil and gas company's stock valued at $42,000 after purchasing an additional 1,114 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of CVR Energy by 304.2% in the first quarter. CWM LLC now owns 2,676 shares of the oil and gas company's stock valued at $52,000 after purchasing an additional 2,014 shares in the last quarter. Institutional investors and hedge funds 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.