CVR Energy (NYSE:CVI) Upgraded by Zacks Research to Hold Rating

Key Points

• Zacks Research upgraded CVR Energy from “strong sell” to “hold,” although the broader analyst consensus remains “strong sell,” with an average price target of $30.50.
• CVR Energy reported quarterly EPS of $0.34, exceeding estimates of $0.26, while revenue rose 55.5% year over year to $2.74 billion.
• The stock opened at $31.21 and has traded between $19.62 and $41.67 over the past year; institutional investors own approximately 98.88% of its shares.

CVR Energy (NYSE:CVI - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other research analysts also recently issued reports on the stock. Scotiabank boosted their price target on shares of CVR Energy from $25.00 to $28.00 and gave the stock a "sector underperform" rating in a research report on Wednesday, April 22nd. Weiss Ratings downgraded shares of CVR Energy from a "sell (d+)" rating to a "sell (d-)" rating in a research note on Friday, May 15th. Wall Street Zen upgraded shares of CVR Energy from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Tudor Pickering cut shares of CVR Energy from a "hold" rating to a "sell" rating in a research report on Thursday, June 4th. Finally, Mizuho increased their price target on CVR Energy from $28.00 to $29.00 and gave the stock an "underperform" rating in a report on Tuesday. Three analysts have rated the stock with a Hold rating and five have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Strong Sell" and an average target price of $30.50.

CVR Energy Stock Performance

NYSE:CVI opened at $31.21 on Tuesday. The stock's 50-day moving average is $31.57 and its 200-day moving average is $29.71. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 2.38. CVR Energy has a 1-year low of $19.62 and a 1-year high of $41.67. The stock has a market cap of $3.14 billion, a P/E ratio of 45.89 and a beta of 0.83.

CVR Energy (NYSE:CVI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.08. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.22 billion. CVR Energy had a net margin of 0.81% and a negative return on equity of 15.21%. CVR Energy's revenue was up 55.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.23) earnings per share. Equities research analysts anticipate that CVR Energy will post 0.16 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CVI. EverSource Wealth Advisors LLC grew its position in CVR Energy by 44.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,102 shares of the oil and gas company's stock worth $37,000 after purchasing an additional 339 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of CVR Energy by 51.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,142 shares of the oil and gas company's stock worth $38,000 after buying an additional 388 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of CVR Energy in the 4th quarter worth approximately $40,000. Exchange Traded Concepts LLC bought a new position in shares of CVR Energy in the fourth quarter valued at approximately $47,000. Finally, Horizon Investments LLC bought a new position in shares of CVR Energy in the fourth quarter valued at approximately $47,000. 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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