CVR Energy (NYSE:CVI) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

CVR Energy (NYSE:CVI) had its price target hoisted by stock analysts at The Goldman Sachs Group from $22.00 to $25.00 in a report released on Thursday,Benzinga reports. The firm currently has a “sell” rating on the oil and gas company’s stock. The Goldman Sachs Group’s target price suggests a potential downside of 12.39% from the company’s previous close.

A number of other brokerages have also commented on CVI. Wall Street Zen lowered CVR Energy from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Weiss Ratings downgraded shares of CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Strong Sell” and a consensus price target of $29.25.

CVR Energy Trading Down 0.8%

Shares of NYSE:CVI opened at $28.54 on Thursday. The company has a market cap of $2.87 billion, a P/E ratio of 109.76 and a beta of 1.12. The stock’s 50-day moving average is $23.92 and its 200-day moving average is $30.10. CVR Energy has a 52-week low of $15.10 and a 52-week high of $41.67. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.13 and a current ratio of 1.79.

CVR Energy (NYSE:CVI) last posted its quarterly earnings data on Wednesday, February 18th. The oil and gas company reported ($0.80) EPS for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.04. CVR Energy had a negative return on equity of 14.31% and a net margin of 0.38%.The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the previous year, the company posted ($0.13) earnings per share. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. Equities research analysts predict that CVR Energy will post -0.12 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Carl C. Icahn bought 275,012 shares of CVR Energy stock in a transaction dated Tuesday, February 24th. The shares were bought at an average price of $21.41 per share, for a total transaction of $5,888,006.92. Following the purchase, the insider owned 71,201,875 shares of the company’s stock, valued at approximately $1,524,432,143.75. This trade represents a 0.39% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders acquired 783,404 shares of company stock valued at $16,445,044 in the last quarter. Corporate insiders own 0.01% of the company’s stock.

Institutional Investors Weigh In On CVR Energy

Hedge funds have recently made changes to their positions in the company. Illinois Municipal Retirement Fund boosted its position in CVR Energy by 2.2% in the third quarter. Illinois Municipal Retirement Fund now owns 17,081 shares of the oil and gas company’s stock valued at $623,000 after buying an additional 363 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of CVR Energy by 2.9% during the third quarter. Victory Capital Management Inc. now owns 21,329 shares of the oil and gas company’s stock worth $778,000 after buying an additional 596 shares in the last quarter. Congress Asset Management Co. increased its holdings in shares of CVR Energy by 0.7% during the third quarter. Congress Asset Management Co. now owns 85,083 shares of the oil and gas company’s stock worth $3,104,000 after buying an additional 604 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of CVR Energy by 1.5% in the third quarter. Alliancebernstein L.P. now owns 48,943 shares of the oil and gas company’s stock valued at $1,785,000 after acquiring an additional 700 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of CVR Energy by 5.6% in the fourth quarter. NewEdge Advisors LLC now owns 13,394 shares of the oil and gas company’s stock valued at $341,000 after acquiring an additional 709 shares during the last quarter. Institutional investors and hedge funds 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.