Mizuho Raises CVR Energy (NYSE:CVI) Price Target to $29.00

Key Points

• Mizuho raised CVR Energy’s price target from $28 to $29 but maintained an “underperform” rating, implying 12.57% downside from the prior close.
• Analyst sentiment remains broadly negative: CVR Energy has an average “strong sell” rating and a consensus price target of $30.50, below its recent trading price of $33.17.
• CVR Energy recently beat quarterly estimates, reporting $0.34 in earnings per share versus $0.26 expected and $2.74 billion in revenue, up 55.5% year over year.

CVR Energy (NYSE:CVI - Get Free Report) had its price objective lifted by equities researchers at Mizuho from $28.00 to $29.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an "underperform" rating on the oil and gas company's stock. Mizuho's price objective indicates a potential downside of 12.57% from the stock's previous close.

Several other brokerages have also recently commented on CVI. The Goldman Sachs Group initiated coverage on CVR Energy in a research report on Friday, April 10th. They set a "sell" rating and a $30.00 price target for the company. Weiss Ratings cut shares of CVR Energy from a "sell (d+)" rating to a "sell (d-)" rating in a research note on Friday, May 15th. Scotiabank boosted their target price on shares of CVR Energy from $25.00 to $28.00 and gave the stock a "sector underperform" rating in a report on Wednesday, April 22nd. Tudor Pickering downgraded shares of CVR Energy from a "hold" rating to a "sell" rating in a research report on Thursday, June 4th. Finally, Wall Street Zen raised shares of CVR Energy from a "hold" rating to a "buy" rating in a report on Saturday. Two research analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Strong Sell" and a consensus price target of $30.50.

CVR Energy Stock Up 0.8%

NYSE:CVI traded up $0.28 during trading hours on Tuesday, reaching $33.17. 469,339 shares of the stock were exchanged, compared to its average volume of 1,189,615. The stock has a market cap of $3.33 billion, a PE ratio of 48.71 and a beta of 0.83. CVR Energy has a twelve month low of $19.62 and a twelve month high of $41.67. The firm has a 50 day moving average of $31.56 and a 200 day moving average of $29.60. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.42 and a quick ratio of 0.92.

CVR Energy (NYSE:CVI - Get Free Report) last posted its quarterly earnings data 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. CVR Energy had a net margin of 0.81% and a negative return on equity of 15.21%. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period last year, the company earned ($0.23) earnings per share. The firm's revenue was up 55.5% compared to the same quarter last year. On average, equities analysts expect that CVR Energy will post -0.21 earnings per share for the current year.

Institutional Investors Weigh In On CVR Energy

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in CVR Energy by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 3,705,809 shares of the oil and gas company's stock worth $94,276,000 after purchasing an additional 106,906 shares during the last quarter. Dimensional Fund Advisors LP increased its position in CVR Energy by 16.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,908,062 shares of the oil and gas company's stock worth $64,220,000 after buying an additional 265,013 shares during the period. State Street Corp increased its position in CVR Energy by 2.6% during the 4th quarter. State Street Corp now owns 1,779,701 shares of the oil and gas company's stock worth $45,276,000 after buying an additional 45,603 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of CVR Energy by 33.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,364,250 shares of the oil and gas company's stock worth $49,768,000 after buying an additional 345,758 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings 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 buying an additional 280,300 shares in the last quarter. Institutional investors own 98.88% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source