Scotiabank Increases CVR Energy (NYSE:CVI) Price Target to $21.00

CVR Energy (NYSE:CVI - Free Report) had its target price increased by Scotiabank from $16.00 to $21.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a sector underperform rating on the oil and gas company's stock.

CVI has been the subject of several other reports. The Goldman Sachs Group reduced their price objective on CVR Energy from $19.00 to $16.00 and set a "sell" rating for the company in a research note on Thursday, March 27th. Mizuho raised their price target on shares of CVR Energy from $20.00 to $21.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 1st. Finally, StockNews.com lowered shares of CVR Energy from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Six research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Reduce" and an average target price of $22.20.

CVR Energy Stock Up 1.5 %

NYSE CVI traded up $0.32 during trading on Monday, hitting $21.37. The company's stock had a trading volume of 936,865 shares, compared to its average volume of 1,238,341. CVR Energy has a fifty-two week low of $15.10 and a fifty-two week high of $30.44. The company has a market cap of $2.15 billion, a PE ratio of 356.23 and a beta of 1.02. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.66 and a quick ratio of 0.86. The business's 50 day simple moving average is $18.93 and its 200-day simple moving average is $19.10.

CVR Energy (NYSE:CVI - Get Free Report) last released 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. CVR Energy had a net margin of 0.09% and a negative return on equity of 5.12%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the firm earned $0.04 EPS. CVR Energy's revenue was down 11.6% compared to the same quarter last year. On average, equities analysts anticipate that CVR Energy will post -0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Carl C. Icahn acquired 206,571 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were acquired at an average cost of $17.79 per share, with a total value of $3,674,898.09. Following the completion of the acquisition, the insider now directly owns 67,780,774 shares in the company, valued at approximately $1,205,819,969.46. This trade represents a 0.31 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders bought 1,641,760 shares of company stock worth $28,641,557. Company insiders own 0.01% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Harbor Capital Advisors Inc. increased its stake in CVR Energy by 65.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 1,633 shares of the oil and gas company's stock worth $32,000 after buying an additional 646 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of CVR Energy during the third quarter worth approximately $43,000. R Squared Ltd acquired a new position in CVR Energy in the 4th quarter valued at $36,000. PNC Financial Services Group Inc. lifted its holdings in CVR Energy by 55.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,052 shares of the oil and gas company's stock valued at $38,000 after purchasing an additional 731 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in CVR Energy by 106.6% during the 1st quarter. GAMMA Investing LLC now owns 2,159 shares of the oil and gas company's stock worth $42,000 after purchasing an additional 1,114 shares during 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.