CVR Energy (NYSE:CVI) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded CVR Energy from “hold” to “buy,” despite the broader analyst consensus remaining “Strong Sell,” with an average price target of $30.25.
• CVR Energy’s stock opened at $35.51, above the consensus target, and has traded between $19.62 and $41.67 over the past year. The company carries relatively high leverage, with a debt-to-equity ratio of 2.38.
• The company exceeded quarterly expectations, reporting $0.34 in EPS versus a $0.26 estimate and $2.74 billion in revenue versus $2.22 billion expected; revenue increased 55.5% year over year.

CVR Energy (NYSE:CVI - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

CVI has been the subject of several other research reports. The Goldman Sachs Group began coverage on shares of CVR Energy in a report on Friday, April 10th. They issued a "sell" rating and a $30.00 target price for the company. Zacks Research lowered shares of CVR Energy from a "hold" rating to a "strong sell" rating in a research note on Monday, July 6th. Mizuho reduced their price target on shares of CVR Energy from $35.00 to $28.00 and set an "underperform" rating for the company in a research report on Tuesday, July 7th. UBS Group restated a "neutral" rating and issued a $35.00 price objective on shares of CVR Energy in a research note on Monday, June 29th. Finally, Tudor Pickering lowered CVR Energy from a "hold" rating to a "sell" rating in a report on Thursday, June 4th. Two research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Strong Sell" and an average target price of $30.25.

CVR Energy Price Performance

CVI stock opened at $35.51 on Friday. The business has a 50 day moving average price of $31.55 and a 200 day moving average price of $29.47. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of 52.22 and a beta of 0.83. CVR Energy has a fifty-two week low of $19.62 and a fifty-two week high of $41.67. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 2.38.

CVR Energy (NYSE:CVI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.08. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.22 billion. CVR Energy had a negative return on equity of 15.21% and a net margin of 0.81%.The firm's quarterly revenue was up 55.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.23) earnings per share. Equities research analysts anticipate that CVR Energy will post -0.21 earnings per share for the current fiscal year.

Institutional Trading of CVR Energy

Large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets raised its stake in CVR Energy by 21,261.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 776,073 shares of the oil and gas company's stock valued at $28,311,000 after acquiring an additional 772,440 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of CVR Energy in the 4th quarter valued at approximately $9,616,000. Bank of America Corp DE increased its holdings in shares of CVR Energy by 101.2% in the third quarter. Bank of America Corp DE now owns 706,504 shares of the oil and gas company's stock valued at $25,773,000 after purchasing an additional 355,412 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in shares of CVR Energy by 33.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,364,250 shares of the oil and gas company's stock valued at $49,768,000 after purchasing an additional 345,758 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of CVR Energy by 31.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,167,184 shares of the oil and gas company's stock worth $29,693,000 after purchasing an additional 280,300 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 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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