The Goldman Sachs Group Cuts CVR Energy (NYSE:CVI) Price Target to $21.00

CVR Energy (NYSE:CVI) had its target price lowered by The Goldman Sachs Group from $24.00 to $21.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has a sell rating on the oil and gas company’s stock.

A number of other equities analysts have also commented on CVI. JPMorgan Chase & Co. decreased their price target on shares of CVR Energy from $26.00 to $23.00 and set an “underweight” rating on the stock in a report on Wednesday, October 2nd. Scotiabank reduced their target price on shares of CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating on the stock in a report on Thursday, October 10th. Mizuho reduced their target price on shares of CVR Energy from $27.00 to $25.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. UBS Group reduced their target price on shares of CVR Energy from $33.75 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Finally, Tudor, Pickering, Holt & Co. lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Five equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat, CVR Energy currently has an average rating of “Reduce” and an average target price of $24.00.

CVR Energy Price Performance

Shares of NYSE:CVI opened at $18.78 on Friday. The company’s fifty day moving average price is $20.76 and its 200-day moving average price is $23.88. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 27.22 and a beta of 1.57. CVR Energy has a one year low of $15.60 and a one year high of $38.07. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.33 and a quick ratio of 0.86.

CVR Energy (NYSE:CVI) last issued its quarterly earnings results on Monday, October 28th. The oil and gas company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.41). The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.91 billion. CVR Energy had a return on equity of 2.88% and a net margin of 0.89%. CVR Energy’s quarterly revenue was down 27.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.89 EPS. On average, equities research analysts anticipate that CVR Energy will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CVR Energy

Several institutional investors have recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC boosted its position in CVR Energy by 2.2% during the 2nd quarter. SummerHaven Investment Management LLC now owns 24,511 shares of the oil and gas company’s stock valued at $656,000 after buying an additional 530 shares during the period. Amalgamated Bank boosted its position in CVR Energy by 9.6% during the 3rd quarter. Amalgamated Bank now owns 9,716 shares of the oil and gas company’s stock valued at $224,000 after buying an additional 849 shares during the period. Price T Rowe Associates Inc. MD boosted its position in CVR Energy by 4.8% during 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 buying an additional 990 shares during the period. Quest Partners LLC boosted its position in CVR Energy by 47.3% during the 2nd quarter. Quest Partners LLC now owns 3,485 shares of the oil and gas company’s stock valued at $93,000 after buying an additional 1,119 shares during the period. Finally, Headlands Technologies LLC boosted its position in CVR Energy by 820.5% during the 2nd quarter. Headlands Technologies LLC now owns 1,482 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 1,321 shares during the period. Hedge funds and other institutional investors own 98.88% of the company’s stock.

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.