CVR Energy Inc. (NYSE:CVI) Stock Has Average Target Price of $30.50 According to Brokerages

CVR Energy Inc. (NYSE:CVI) has been given an average recommendation of “Reduce” by the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $30.50.

Several equities research analysts have recently issued reports on CVI shares. Tudor Pickering cut CVR Energy from a “hold” rating to a “sell” rating in a report on Thursday, June 4th. Mizuho upped their target price on CVR Energy from $28.00 to $29.00 and gave the company an “underperform” rating in a research note on Tuesday, August 4th. Wall Street Zen upgraded CVR Energy from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Weiss Ratings raised CVR Energy from a “sell (d-)” rating to a “hold (c)” rating in a research note on Tuesday, September 22nd. Finally, Zacks Research upgraded CVR Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th.

Institutional Investors Weigh In On CVR Energy

A number of institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its holdings in shares of CVR Energy by 11.0% in the 2nd quarter. State Street Corp now owns 2,153,498 shares of the oil and gas company’s stock valued at $59,315,000 after purchasing an additional 213,829 shares during the last quarter. WINTON GROUP Ltd grew its stake in shares of CVR Energy by 357.8% during the 2nd quarter. WINTON GROUP Ltd now owns 164,204 shares of the oil and gas company’s stock valued at $4,522,000 after buying an additional 128,339 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of CVR Energy during the 2nd quarter worth $903,000. Integrated Wealth Concepts LLC acquired a new stake in shares of CVR Energy during the 2nd quarter worth $92,000. Finally, NewEdge Advisors LLC increased its holdings in shares of CVR Energy by 2.5% during the 2nd quarter. NewEdge Advisors LLC now owns 13,890 shares of the oil and gas company’s stock worth $383,000 after buying an additional 336 shares during the last quarter. 98.88% of the stock is currently owned by hedge funds and other institutional investors.

CVR Energy Stock Up 6.6%

Shares of NYSE CVI opened at $54.34 on Tuesday. The firm has a market cap of $5.46 billion, a P/E ratio of 79.91 and a beta of 0.90. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.92 and a current ratio of 1.42. CVR Energy has a 1 year low of $19.62 and a 1 year high of $55.19. The firm’s 50 day moving average price is $42.11 and its 200 day moving average price is $35.45.

CVR Energy (NYSE:CVI) last issued its quarterly earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.08. CVR Energy had a negative return on equity of 15.21% and a net margin of 0.81%.The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the previous year, the firm posted ($0.23) EPS. CVR Energy’s revenue was up 55.5% on a year-over-year basis. As a group, sell-side analysts anticipate that CVR Energy will post 1.56 earnings per share for the current year.

CVR Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 10th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, August 10th. CVR Energy’s dividend payout ratio is presently 58.82%.

About CVR Energy

CVR Energy, Inc is a diversified energy company engaged primarily in petroleum refining and nitrogen fertilizer production. Headquartered in Sugar Land, Texas, the company operates through subsidiaries that serve customers in the United States, with activities concentrated in the Midcontinent region.

Through its refining operations, CVR Energy processes crude oil into transportation fuels and other refined products, including gasoline, diesel fuel, jet fuel and asphalt. Its refineries are located in Coffeyville, Kansas, and Wynnewood, Oklahoma, and are supported by related logistics, storage and transportation assets.

CVR Energy also owns and operates nitrogen fertilizer facilities through CVR Partners, LP.