CVR Energy (NYSE:CVI) Upgraded at Zacks Research

Key Points

• CVR Energy has been upgraded by Zacks Research from a "strong sell" to a "hold" rating, indicating a potential change in analyst sentiment towards the stock.
• Despite the upgrade, several analysts have issued contrasting views, with Raymond James downgrading the stock to "underperform" and Mizuho setting a price objective of $29.00.
• CVR Energy reported a loss of ($0.23) EPS for the last quarter, missing expectations and demonstrating a decline in revenue compared to the previous year.

Zacks Research upgraded shares of CVR Energy (NYSE:CVI - Free Report) from a strong sell rating to a hold rating in a research report released on Tuesday morning,Zacks.com reports.

Several other research firms also recently weighed in on CVI. Raymond James Financial downgraded CVR Energy from a "market perform" rating to an "underperform" rating in a research report on Tuesday, July 15th. Scotiabank increased their target price on CVR Energy from $21.00 to $25.00 and gave the stock a "sector underperform" rating in a research report on Friday, July 11th. Finally, Mizuho reiterated an "underperform" rating and set a $29.00 target price (up from $27.00) on shares of CVR Energy in a research report on Monday, September 15th. One analyst has rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Strong Sell" and a consensus target price of $23.25.

CVR Energy Price Performance

Shares of NYSE:CVI traded up $1.16 on Tuesday, hitting $35.42. The company had a trading volume of 2,745,829 shares, compared to its average volume of 2,313,078. The company has a current ratio of 1.17, a quick ratio of 0.75 and a debt-to-equity ratio of 2.78. CVR Energy has a 52-week low of $15.10 and a 52-week high of $35.65. The business has a 50 day moving average of $29.11 and a 200 day moving average of $24.79. The company has a market cap of $3.56 billion, a PE ratio of -10.67 and a beta of 1.32.

CVR Energy (NYSE:CVI - Get Free Report) last released its earnings results on Wednesday, July 30th. The oil and gas company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.15). CVR Energy had a negative return on equity of 18.11% and a negative net margin of 4.63%.The business had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.73 billion. During the same quarter last year, the company posted $0.09 earnings per share. The business's quarterly revenue was down 10.5% compared to the same quarter last year. As a group, equities analysts anticipate that CVR Energy will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CVR Energy

Large investors have recently modified their holdings of the stock. Matrix Trust Co acquired a new stake in shares of CVR Energy in the second quarter valued at about $26,000. Harbor Capital Advisors Inc. grew its stake in shares of CVR Energy by 65.5% in the first quarter. Harbor Capital Advisors Inc. now owns 1,633 shares of the oil and gas company's stock valued at $32,000 after buying an additional 646 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of CVR Energy by 1,030.2% in the first 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 buying an additional 1,772 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of CVR Energy by 106.6% in the first quarter. GAMMA Investing LLC now owns 2,159 shares of the oil and gas company's stock valued at $42,000 after buying an additional 1,114 shares in the last quarter. Finally, CWM LLC grew its stake in shares of CVR Energy by 304.2% in the first quarter. CWM LLC now owns 2,676 shares of the oil and gas company's stock valued at $52,000 after buying an additional 2,014 shares in the last quarter. Institutional investors and hedge funds 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.