Zacks Research Upgrades CVR Energy (NYSE:CVI) to “Hold”

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

Several other equities analysts have also recently weighed in on CVI. Mizuho lifted their price target on CVR Energy from $28.00 to $29.00 and gave the company an “underperform” rating in a research report on Tuesday. Weiss Ratings cut shares of CVR Energy from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Friday, May 15th. Scotiabank lifted their price objective on CVR Energy from $25.00 to $28.00 and gave the company a “sector underperform” rating in a research report on Wednesday, April 22nd. Tudor Pickering cut CVR Energy from a “hold” rating to a “sell” rating in a research report on Thursday, June 4th. Finally, UBS Group reiterated a “neutral” rating and set a $35.00 price target on shares of CVR Energy in a report on Monday, June 29th. Three equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Strong Sell” and an average price target of $30.50.

CVR Energy Price Performance

CVI opened at $31.21 on Tuesday. CVR Energy has a fifty-two week low of $19.62 and a fifty-two week high of $41.67. The firm has a 50-day moving average of $31.57 and a 200 day moving average of $29.71. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.92 and a current ratio of 1.42. The firm has a market cap of $3.14 billion, a P/E ratio of 45.89 and a beta of 0.83.

CVR Energy (NYSE:CVI) last announced its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.26 by $0.08. CVR Energy had a net margin of 0.81% and a negative return on equity of 15.21%. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the previous year, the firm posted ($0.23) earnings per share. The company’s revenue for the quarter was up 55.5% on a year-over-year basis. On average, research analysts expect that CVR Energy will post 0.16 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada increased its position 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 valued at $289,000 after purchasing an additional 5,992 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of CVR Energy in the first quarter worth approximately $611,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 buying an additional 858 shares during the last quarter. Goldman Sachs Group Inc. grew its position in CVR Energy by 14.8% during the first quarter. Goldman Sachs Group Inc. now owns 496,650 shares of the oil and gas company’s stock valued at $9,635,000 after buying an additional 63,909 shares during the period. Finally, JPMorgan Chase & Co. grew its position in CVR Energy by 34.2% during the second quarter. JPMorgan Chase & Co. now owns 273,777 shares of the oil and gas company’s stock valued at $7,351,000 after buying an additional 69,726 shares during the period. 98.88% of the stock is owned by hedge funds and other institutional investors.

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.