The Goldman Sachs Group Cuts CVR Energy (NYSE:CVI) Price Target to $16.00

CVR Energy (NYSE:CVI) had its target price lowered by The Goldman Sachs Group from $19.00 to $16.00 in a report issued on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the oil and gas company’s stock.

Other analysts have also issued research reports about the stock. StockNews.com raised shares of CVR Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, February 19th. Mizuho lifted their target price on CVR Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Five analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $22.00.

CVR Energy Stock Performance

NYSE CVI opened at $20.12 on Thursday. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.86 and a current ratio of 1.66. The stock’s fifty day moving average is $19.55 and its two-hundred day moving average is $20.19. The firm has a market capitalization of $2.02 billion, a P/E ratio of 335.36 and a beta of 1.55. CVR Energy has a fifty-two week low of $15.60 and a fifty-two week high of $38.07.

CVR Energy (NYSE:CVI) last announced its quarterly earnings results on Tuesday, February 18th. The oil and gas company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.12). CVR Energy had a net margin of 0.09% and a negative return on equity of 5.12%. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.85 billion. On average, research analysts anticipate that CVR Energy will post -0.12 earnings per share for the current year.

Insider Buying and Selling at CVR Energy

In other CVR Energy news, major shareholder Carl C. Icahn acquired 878,212 shares of the stock in a transaction dated Wednesday, January 8th. The stock was acquired at an average price of $18.25 per share, with a total value of $16,027,369.00. Following the completion of the purchase, the insider now owns 67,570,593 shares in the company, valued at $1,233,163,322.25. This trade represents a 1.32 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have bought a total of 1,492,540 shares of company stock valued at $27,049,928 over the last quarter. 0.01% of the stock is owned by company insiders.

Institutional Investors Weigh In On CVR Energy

A number of hedge funds have recently added to or reduced their stakes in the business. State Street Corp grew its stake in CVR Energy by 18.1% during the 3rd quarter. State Street Corp now owns 2,075,058 shares of the oil and gas company’s stock worth $47,789,000 after purchasing an additional 317,475 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of CVR Energy by 56.2% in the 4th quarter. Two Sigma Investments LP now owns 750,195 shares of the oil and gas company’s stock valued at $14,059,000 after buying an additional 269,763 shares during the period. Millennium Management LLC grew its position in shares of CVR Energy by 1,203.0% during the fourth quarter. Millennium Management LLC now owns 286,100 shares of the oil and gas company’s stock worth $5,362,000 after buying an additional 264,143 shares in the last quarter. ExodusPoint Capital Management LP increased its stake in shares of CVR Energy by 744.9% during the fourth quarter. ExodusPoint Capital Management LP now owns 293,129 shares of the oil and gas company’s stock worth $5,493,000 after buying an additional 258,436 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of CVR Energy by 12.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,181,295 shares of the oil and gas company’s stock valued at $40,876,000 after purchasing an additional 238,081 shares in the last quarter. 98.88% of the stock is currently owned by institutional investors and hedge funds.

About CVR Energy

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.