CVR Energy (NYSE:CVI) Upgraded to Market Perform at Raymond James Financial

CVR Energy (NYSE:CVI) was upgraded by analysts at Raymond James Financial from an “underperform” rating to a “market perform” rating in a research note issued to investors on Wednesday,Finviz reports.

Several other research firms also recently weighed in on CVI. Weiss Ratings downgraded CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research report on Friday, February 20th. Wall Street Zen upgraded CVR Energy from a “sell” rating to a “hold” rating in a research report on Saturday. Mizuho lifted their price objective on CVR Energy from $28.00 to $32.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 17th. Finally, The Goldman Sachs Group boosted their target price on shares of CVR Energy from $22.00 to $25.00 and gave the company a “sell” rating in a research note on Thursday, March 12th. Two equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, CVR Energy currently has an average rating of “Strong Sell” and a consensus target price of $30.00.

CVR Energy Stock Up 1.9%

Shares of NYSE CVI opened at $33.08 on Wednesday. The firm’s 50-day moving average is $25.07 and its two-hundred day moving average is $30.17. The company has a market capitalization of $3.33 billion, a PE ratio of 127.24 and a beta of 1.12. CVR Energy has a 12-month low of $15.10 and a 12-month high of $41.67. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.79 and a quick ratio of 1.13.

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

Insiders Place Their Bets

In other news, major shareholder Carl C. Icahn bought 275,012 shares of CVR Energy stock in a transaction that occurred on Tuesday, February 24th. The shares were purchased at an average price of $21.41 per share, for a total transaction of $5,888,006.92. Following the completion of the acquisition, the insider owned 71,201,875 shares of the company’s stock, valued at $1,524,432,143.75. The trade was a 0.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired a total of 783,404 shares of company stock valued at $16,445,044 in the last 90 days. 0.01% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CVR Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in shares of CVR Energy by 67.2% during the 1st quarter. Royal Bank of Canada now owns 14,904 shares of the oil and gas company’s stock worth $289,000 after purchasing an additional 5,992 shares during the period. AQR Capital Management LLC acquired a new stake in shares of CVR Energy in the first quarter worth $611,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of CVR Energy by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,301 shares of the oil and gas company’s stock worth $394,000 after acquiring an additional 858 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of CVR Energy by 14.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 496,650 shares of the oil and gas company’s stock valued at $9,635,000 after acquiring an additional 63,909 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of CVR Energy in the 2nd quarter valued at $236,000. 98.88% of the stock is currently owned by institutional investors and hedge funds.

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.