CVR Energy Inc. (NYSE:CVI) Stock Has Average Price Target of $45.75 According to Brokerages

Shares of CVR Energy Inc. (NYSE:CVI) have been assigned an average recommendation of “Reduce” from the eight research firms that are covering the company, MarketBeat.com reports. Four analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $45.75.

CVI has been the subject of several research analyst reports. The Goldman Sachs Group upped their price target on shares of CVR Energy from $36.00 to $50.00 and gave the company a “sell” rating in a report on Friday, October 9th. 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 report on Friday, October 2nd. Wall Street Zen raised shares of CVR Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 10th. Weiss Ratings raised shares of CVR Energy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Finally, Mizuho upped their target price on shares of CVR Energy from $29.00 to $52.00 and gave the stock an “underperform” rating in a research note on Thursday, October 8th.

CVR Energy Price Performance

Shares of CVI opened at $58.04 on Friday. The stock has a 50 day simple moving average of $50.29 and a 200 day simple moving average of $38.44. CVR Energy has a 52-week low of $19.62 and a 52-week high of $63.51. 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 capitalization of $5.83 billion, a PE ratio of 85.35 and a beta of 0.90.

CVR Energy (NYSE:CVI) last announced its earnings results 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 firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period last year, the company posted ($0.23) EPS. The business’s quarterly revenue was up 55.5% on a year-over-year basis. Sell-side analysts predict that CVR Energy will post 4.20 EPS for the current fiscal year.

CVR Energy Dividend Announcement

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

Institutional Trading of CVR Energy

A number of institutional investors have recently modified their holdings of the company. Legal & General Group Plc acquired a new position in shares of CVR Energy during the second quarter worth about $1,878,000. Squarepoint Ops LLC grew its holdings in shares of CVR Energy by 95.0% during the second quarter. Squarepoint Ops LLC now owns 218,382 shares of the oil and gas company’s stock worth $6,014,000 after buying an additional 106,406 shares in the last quarter. NFJ Investment Group LLC acquired a new stake in CVR Energy in the 2nd quarter valued at approximately $2,198,000. PDT Partners LLC acquired a new stake in CVR Energy in the 2nd quarter valued at approximately $14,502,000. Finally, Bank of America Corp DE raised its position in CVR Energy by 19.4% in the 2nd quarter. Bank of America Corp DE now owns 671,728 shares of the oil and gas company’s stock valued at $18,499,000 after buying an additional 109,338 shares during the last quarter. 98.88% of the stock is currently owned by institutional investors.

CVR Energy Company Profile

CVR Energy, Inc (NYSE:CVI) is a diversified energy company engaged primarily in petroleum refining and nitrogen fertilizer production. Through its refining operations, the company processes crude oil into transportation fuels and other refined products, including gasoline, diesel fuel, jet fuel and asphalt.

CVR Energy operates refineries in Coffeyville, Kansas, and Wynnewood, Oklahoma. The facilities primarily serve customers in the Midcontinent region of the United States and are supported by related logistics and distribution assets.