CVR Energy (NYSE:CVI) Price Target Cut to $24.00 by Analysts at Scotiabank

CVR Energy (NYSE:CVI) had its price objective cut by Scotiabank from $29.00 to $24.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “sector underperform” rating on the oil and gas company’s stock. Scotiabank’s price target suggests a potential downside of 2.48% from the stock’s previous close.

A number of other equities analysts have also recently commented on the company. JPMorgan Chase & Co. decreased their target price on CVR Energy from $30.00 to $26.00 and set an “underweight” rating on the stock in a report on Tuesday, July 2nd. UBS Group cut their price objective on CVR Energy from $37.00 to $33.75 and set a “neutral” rating for the company in a research note on Tuesday, May 14th. Finally, StockNews.com cut shares of CVR Energy from a “buy” rating to a “hold” rating in a research note on Sunday, June 16th. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $28.69.

CVR Energy Stock Performance

Shares of NYSE CVI traded down $0.05 during trading on Friday, reaching $24.61. 744,873 shares of the company traded hands, compared to its average volume of 949,495. The company has a quick ratio of 0.91, a current ratio of 1.49 and a debt-to-equity ratio of 1.48. CVR Energy has a 52-week low of $23.93 and a 52-week high of $39.36. The stock has a market capitalization of $2.47 billion, a PE ratio of 3.77 and a beta of 1.54. The firm has a 50 day simple moving average of $27.62 and a 200-day simple moving average of $31.34.

CVR Energy (NYSE:CVI) last released its quarterly earnings results on Monday, April 29th. The oil and gas company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.09). CVR Energy had a net margin of 7.44% and a return on equity of 40.14%. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the company earned $1.44 EPS. CVR Energy’s revenue for the quarter was down 18.5% compared to the same quarter last year. Equities research analysts anticipate that CVR Energy will post 0.25 earnings per share for the current year.

Institutional Trading of CVR Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in CVR Energy in the 2nd quarter worth approximately $221,000. CX Institutional boosted its position in shares of CVR Energy by 4.0% during the second quarter. CX Institutional now owns 99,128 shares of the oil and gas company’s stock worth $2,654,000 after acquiring an additional 3,784 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of CVR Energy by 67.3% during the first quarter. Janus Henderson Group PLC now owns 23,892 shares of the oil and gas company’s stock worth $852,000 after acquiring an additional 9,607 shares during the last quarter. Caxton Associates LP purchased a new position in CVR Energy during the first quarter valued at $1,145,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in CVR Energy by 4.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,485 shares of the oil and gas company’s stock valued at $767,000 after acquiring an additional 990 shares during the last quarter. Institutional investors own 98.88% of the company’s stock.

CVR Energy Company Profile

CVR Energy, Inc, together with its subsidiaries, engages in the petroleum refining and marketing, and nitrogen fertilizer manufacturing activities in the United States. It operates in two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment refines and supplies gasoline, crude oil, distillate, diesel fuel, and other refined products.