Scotiabank Raises CVR Energy (NYSE:CVI) Price Target to $25.00

CVR Energy (NYSE:CVI - Free Report) had its target price hoisted by Scotiabank from $21.00 to $25.00 in a research note issued to investors on Friday morning,Benzinga reports. Scotiabank currently has a sector underperform rating on the oil and gas company's stock.

A number of other analysts also recently commented on CVI. 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 report on Thursday, March 27th. Wall Street Zen downgraded CVR Energy from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. Finally, Mizuho raised their price objective on CVR Energy from $21.00 to $25.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Six equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to MarketBeat, the stock has an average rating of "Reduce" and an average target price of $23.80.

CVR Energy Stock Performance

CVI traded down $0.31 during midday trading on Friday, reaching $32.18. The company's stock had a trading volume of 661,561 shares, compared to its average volume of 1,238,110. The stock has a market cap of $3.24 billion, a P/E ratio of -16.33 and a beta of 1.16. The company has a fifty day simple moving average of $25.42 and a 200 day simple moving average of $21.23. The company has a current ratio of 1.32, a quick ratio of 0.85 and a debt-to-equity ratio of 2.47. CVR Energy has a twelve month low of $15.10 and a twelve month high of $32.67.

CVR Energy (NYSE:CVI - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The oil and gas company reported ($0.58) EPS for the quarter, topping analysts' consensus estimates of ($0.90) by $0.32. CVR Energy had a negative return on equity of 12.66% and a negative net margin of 2.68%. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the company earned $0.04 EPS. The company's quarterly revenue was down 11.6% on a year-over-year basis. Research analysts expect that CVR Energy will post -0.12 earnings per share for the current year.

Insider Activity at CVR Energy

In related news, major shareholder Carl C. Icahn bought 98,875 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The stock was acquired at an average price of $17.84 per share, for a total transaction of $1,763,930.00. Following the transaction, the insider directly owned 70,339,251 shares of the company's stock, valued at $1,254,852,237.84. This represents a 0.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders purchased 326,066 shares of company stock worth $5,862,228. 0.01% of the stock is owned by company insiders.

Hedge Funds Weigh In On CVR Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. lifted its position in shares of 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 during the period. PNC Financial Services Group Inc. raised its position 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 during the last quarter. Caitong International Asset Management Co. Ltd raised its position in CVR Energy by 1,030.2% in the 1st 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 during the last quarter. GAMMA Investing LLC raised its position in CVR Energy by 106.6% in the 1st 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 during the last quarter. Finally, CWM LLC raised its position in CVR Energy by 304.2% in the 1st 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 during the last quarter. Institutional investors own 98.88% of the company's stock.

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.