CVR Energy (NYSE:CVI) Stock Price Expected to Rise, Mizuho Analyst Says

Key Points

• Mizuho raised its price target on CVR Energy from $28 to $32 but maintained an underperform rating, implying roughly a 7% upside from the prior close.
• Consensus remains negative—one analyst rates CVI a Hold and five rate it Sell, producing an average rating of Strong Sell and an average price target of $30.
• Major shareholder Carl C. Icahn bought 275,012 shares at about $21.41 on Feb. 24, slightly increasing his already large position in the company.

CVR Energy (NYSE:CVI - Get Free Report) had its price target raised by research analysts at Mizuho from $28.00 to $32.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an "underperform" rating on the oil and gas company's stock. Mizuho's price objective points to a potential upside of 7.06% from the stock's previous close.

CVI has been the subject of several other research reports. Wall Street Zen cut shares of CVR Energy from a "hold" rating to a "sell" rating in a research report on Saturday, February 21st. The Goldman Sachs Group boosted their price objective on CVR Energy from $22.00 to $25.00 and gave the stock a "sell" rating in a research report on Thursday, March 12th. Finally, Weiss Ratings lowered CVR Energy from a "hold (c)" rating to a "sell (d)" rating in a report on Friday, February 20th. One analyst has rated the stock with a Hold rating and five have given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Strong Sell" and an average price target of $30.00.

CVR Energy Stock Performance

CVI stock traded up $1.67 during mid-day trading on Tuesday, reaching $29.89. The company had a trading volume of 857,055 shares, compared to its average volume of 1,368,998. CVR Energy has a one year low of $15.10 and a one year high of $41.67. The stock has a market capitalization of $3.00 billion, a P/E ratio of 114.85 and a beta of 1.12. The company has a quick ratio of 1.13, a current ratio of 1.79 and a debt-to-equity ratio of 1.95. The stock's 50-day simple moving average is $23.97 and its two-hundred day simple moving average is $30.11.

CVR Energy (NYSE:CVI - Get Free Report) last released its quarterly earnings results on Wednesday, February 18th. The oil and gas company reported ($0.80) EPS for the quarter, topping the consensus estimate of ($0.84) by $0.04. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.70 billion. CVR Energy had a net margin of 0.38% and a negative return on equity of 14.31%. The company's quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.13) earnings per share. Research analysts anticipate that CVR Energy will post -0.12 EPS for the current year.

Insider Transactions at CVR Energy

In other CVR Energy news, major shareholder Carl C. Icahn acquired 275,012 shares of the business's stock in a transaction on Tuesday, February 24th. The stock was purchased at an average price of $21.41 per share, for a total transaction of $5,888,006.92. Following the transaction, the insider owned 71,201,875 shares in the company, valued at $1,524,432,143.75. This trade represents a 0.39% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders acquired 783,404 shares of company stock valued at $16,445,044. Insiders own 0.01% of the company's stock.

Hedge Funds Weigh In On CVR Energy

Institutional investors have recently modified their holdings of the stock. Royal Bank of Canada raised its position in shares of CVR Energy by 67.2% during the first quarter. Royal Bank of Canada now owns 14,904 shares of the oil and gas company's stock worth $289,000 after acquiring an additional 5,992 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of CVR Energy during the first quarter worth $611,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 during the last quarter. Goldman Sachs Group Inc. increased its holdings in CVR Energy by 14.8% in the first quarter. Goldman Sachs Group Inc. now owns 496,650 shares of the oil and gas company's stock valued at $9,635,000 after purchasing an additional 63,909 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in CVR Energy by 9.2% in the second quarter. Bank of Montreal Can now owns 11,147 shares of the oil and gas company's stock valued at $299,000 after buying an additional 941 shares during the period. 98.88% of the stock is owned by institutional investors.

About CVR Energy

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.

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