Piper Jaffray Cos. Cuts CVR Energy Inc. (CVI) Price Target to $9.00
CVR Energy Inc. (NYSE:CVI) had its price target lowered by Piper Jaffray Cos. from $10.00 to $9.00 in a research report sent to investors on Friday. Piper Jaffray Cos. currently has an underweight rating on the stock.
Separately, Goldman Sachs Group Inc. raised shares of CVR Energy from a sell rating to a neutral rating and boosted their price objective for the company from $13.00 to $15.00 in a research report on Thursday, September 8th.
CVR Energy (NYSE:CVI) opened at 15.15 on Friday. The firm has a 50-day moving average of $14.36 and a 200-day moving average of $19.00. CVR Energy has a one year low of $13.01 and a one year high of $48.37. The stock has a market capitalization of $1.32 billion, a PE ratio of 53.16 and a beta of 1.92.
CVR Energy (NYSE:CVI) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.27. CVR Energy had a net margin of 0.54% and a return on equity of 5.84%. The business earned $1.28 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the firm earned $1.17 EPS. The company’s revenue for the quarter was down 21.0% compared to the same quarter last year. On average, equities research analysts forecast that CVR Energy will post $0.39 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of CVI. Invictus RG purchased a new position in CVR Energy during the first quarter worth about $157,000. Quantbot Technologies LP raised its position in CVR Energy by 77.1% in the second quarter. Quantbot Technologies LP now owns 7,627 shares of the company’s stock worth $118,000 after buying an additional 3,320 shares during the last quarter. BlackRock Advisors LLC raised its position in CVR Energy by 1.3% in the second quarter. BlackRock Advisors LLC now owns 7,783 shares of the company’s stock worth $121,000 after buying an additional 99 shares during the last quarter. Legal & General Group Plc raised its position in CVR Energy by 726.9% in the second quarter. Legal & General Group Plc now owns 8,542 shares of the company’s stock worth $131,000 after buying an additional 7,509 shares during the last quarter. Finally, Royal Bank of Canada raised its position in CVR Energy by 936.1% in the second quarter. Royal Bank of Canada now owns 10,081 shares of the company’s stock worth $156,000 after buying an additional 9,108 shares during the last quarter.
CVR Energy Company Profile
CVR Energy, Inc (CVR Energy) is a holding company. The Company engages in the petroleum refining and nitrogen fertilizer manufacturing through its holdings in CVR Refining LP (CVR Refining or the Refining Partnership) and CVR Partners LP (CVR Partners or the Nitrogen Fertilizer Partnership). It operates under two business segments: petroleum (the petroleum and related businesses operated by the Refining Partnership) and nitrogen fertilizer (the nitrogen fertilizer business operated by the Nitrogen Fertilizer Partnership).
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