Zacks Research Downgrades CVR Energy (NYSE:CVI) to Strong Sell

CVR Energy (NYSE:CVI) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

A number of other research analysts also recently commented on CVI. Scotiabank increased their target price on CVR Energy from $25.00 to $28.00 and gave the stock a “sector underperform” rating in a report on Wednesday, April 22nd. The Goldman Sachs Group started coverage on CVR Energy in a research report on Friday, April 10th. They set a “sell” rating and a $30.00 price target on the stock. Wall Street Zen raised shares of CVR Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Tudor Pickering cut shares of CVR Energy from a “hold” rating to a “sell” rating in a report on Thursday, June 4th. Finally, Raymond James Financial upgraded shares of CVR Energy from an “underperform” rating to a “market perform” rating in a research report on Wednesday, March 25th. Two investment analysts have rated the stock with a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat, CVR Energy currently has a consensus rating of “Strong Sell” and a consensus price target of $30.25.

CVR Energy Price Performance

CVI opened at $28.63 on Monday. The company has a market capitalization of $2.88 billion, a P/E ratio of -66.58 and a beta of 0.83. The company has a 50-day moving average of $31.42 and a 200-day moving average of $28.45. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.89 and a current ratio of 1.44. CVR Energy has a 1-year low of $19.62 and a 1-year high of $41.67.

CVR Energy (NYSE:CVI) last issued its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported ($1.24) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.70). The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.73 billion. CVR Energy had a negative return on equity of 22.36% and a negative net margin of 0.56%.The business’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.58) EPS. Equities analysts expect that CVR Energy will post -0.16 EPS for the current fiscal year.

Institutional Trading of CVR Energy

A number of large investors have recently modified their holdings of the company. 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 during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of CVR Energy by 51.5% during the first 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 during the period. Aster Capital Management DIFC Ltd acquired a new position in shares of CVR Energy during the fourth quarter worth approximately $40,000. Exchange Traded Concepts LLC bought a new position in CVR Energy in the 4th quarter worth approximately $47,000. Finally, Horizon Investments LLC acquired a new stake in CVR Energy in the 4th quarter valued at approximately $47,000. 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.