CVR Energy (NYSE:CVI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of CVR Energy (NYSE:CVI) from a buy rating to a strong-buy rating in a report published on Saturday,Wall Street Zen reports.

Other analysts also recently issued research reports about the stock. Weiss Ratings upgraded shares of CVR Energy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday. UBS Group raised their price objective on shares of CVR Energy from $35.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, October 2nd. The Goldman Sachs Group raised their price objective on shares of CVR Energy from $36.00 to $50.00 and gave the stock a “sell” rating in a research report on Friday. Zacks Research upgraded shares of CVR Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Mizuho lifted their price objective on shares of CVR Energy from $29.00 to $52.00 and gave the company an “underperform” rating in a research note on Thursday, October 8th. Four investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $45.75.

CVR Energy Price Performance

Shares of NYSE CVI opened at $58.77 on Friday. The stock has a market cap of $5.91 billion, a P/E ratio of 86.43 and a beta of 0.90. CVR Energy has a twelve month low of $19.62 and a twelve month high of $61.09. The stock has a 50 day moving average of $45.31 and a two-hundred day moving average of $36.72. 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 (NYSE:CVI) last announced its earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.08. The business 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%. The company’s revenue for the quarter was up 55.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.23) earnings per share. On average, research analysts forecast that CVR Energy will post 1.56 earnings per share for the current year.

CVR Energy Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CVI. BlackRock Inc. acquired a new stake in CVR Energy in the second quarter valued at about $143,262,000. State Street Corp increased its position in CVR Energy by 11.0% during the 2nd quarter. State Street Corp now owns 2,153,498 shares of the oil and gas company’s stock worth $59,315,000 after purchasing an additional 213,829 shares during the period. 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 purchasing an additional 265,013 shares during the period. Bank of America Corp DE increased its position in CVR Energy by 19.4% during the 2nd quarter. Bank of America Corp DE now owns 671,728 shares of the oil and gas company’s stock worth $18,499,000 after purchasing an additional 109,338 shares during the period. Finally, PDT Partners LLC purchased a new position in shares of CVR Energy during the 2nd quarter worth approximately $14,502,000. Institutional investors and hedge funds own 98.88% of the company’s stock.

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.