CVR Energy (NYSE:CVI) Sets New 52-Week High on Analyst Upgrade

Key Points

• CVR Energy's shares reached a new 52-week high of $38.54 after an upgrade from Goldman Sachs, which raised its price target from $19.00 to $25.00.
• Despite this upgrade, CVR Energy currently holds an average rating of "Strong Sell", with several institutions reducing their ratings or price targets recently.
• Institutional investors own 98.88% of CVR Energy’s stock, indicating strong backing from major financial entities, including recent stake increases by multiple hedge funds.

Shares of CVR Energy Inc. (NYSE:CVI - Get Free Report) hit a new 52-week high during mid-day trading on Thursday after The Goldman Sachs Group raised their price target on the stock from $19.00 to $25.00. The Goldman Sachs Group currently has a sell rating on the stock. CVR Energy traded as high as $38.54 and last traded at $38.50, with a volume of 215174 shares traded. The stock had previously closed at $36.28.

CVI has been the topic of a number of other research reports. Raymond James Financial cut CVR Energy from a "market perform" rating to an "underperform" rating in a research note on Tuesday, July 15th. UBS Group set a $37.00 price target on shares of CVR Energy in a research note on Sunday, September 28th. Mizuho reissued an "underperform" rating and issued a $29.00 price objective (up from $27.00) on shares of CVR Energy in a research report on Monday, September 15th. Zacks Research raised shares of CVR Energy from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 16th. Finally, Scotiabank reaffirmed an "underperform" rating on shares of CVR Energy in a report on Thursday, October 9th. One analyst has rated the stock with a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Strong Sell" and an average price target of $29.25.

Institutional Trading of CVR Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Congress Asset Management Co. lifted its stake in CVR Energy by 0.7% in the third quarter. Congress Asset Management Co. now owns 85,083 shares of the oil and gas company's stock valued at $3,104,000 after buying an additional 604 shares during the period. SummerHaven Investment Management LLC boosted its stake in CVR Energy by 2.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 32,465 shares of the oil and gas company's stock worth $872,000 after acquiring an additional 758 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in CVR Energy by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,301 shares of the oil and gas company's stock valued at $394,000 after purchasing an additional 858 shares in the last quarter. Bank of Montreal Can increased its stake in CVR Energy by 9.2% during the 2nd quarter. Bank of Montreal Can now owns 11,147 shares of the oil and gas company's stock worth $299,000 after purchasing an additional 941 shares in the last quarter. Finally, Matrix Trust Co acquired a new stake in CVR Energy during the 2nd quarter worth approximately $26,000. Institutional investors and hedge funds own 98.88% of the company's stock.

CVR Energy Price Performance

The company has a quick ratio of 0.75, a current ratio of 1.17 and a debt-to-equity ratio of 2.78. The company's fifty day moving average price is $32.73 and its two-hundred day moving average price is $27.17. The company has a market cap of $3.90 billion, a price-to-earnings ratio of -11.69 and a beta of 1.25.

CVR Energy (NYSE:CVI - Get Free Report) last released its earnings results on Tuesday, September 2nd. The oil and gas company reported ($0.23) earnings per share (EPS) for the quarter. The firm had revenue of $1.76 billion for the quarter. CVR Energy had a negative return on equity of 18.11% and a negative net margin of 4.63%. On average, equities research analysts forecast that CVR Energy Inc. will post -0.12 EPS for the current fiscal year.

About CVR Energy

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.

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