CVR Energy (NYSE:CVI) Downgraded to “Sell” Rating by StockNews.com

CVR Energy (NYSE:CVI) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other equities analysts have also recently issued reports on the company. Mizuho dropped their target price on CVR Energy from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Tudor, Pickering, Holt & Co. lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. JPMorgan Chase & Co. cut their price target on shares of CVR Energy from $26.00 to $23.00 and set an “underweight” rating for the company in a report on Wednesday, October 2nd. The Goldman Sachs Group cut their target price on shares of CVR Energy from $24.00 to $21.00 and set a “sell” rating for the company in a research note on Friday, December 6th. Finally, Tudor Pickering upgraded CVR Energy to a “strong sell” rating in a research report on Monday, September 9th. Six equities 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, CVR Energy presently has an average rating of “Reduce” and an average target price of $24.00.

CVR Energy Price Performance

Shares of NYSE:CVI opened at $18.91 on Friday. CVR Energy has a fifty-two week low of $15.60 and a fifty-two week high of $38.07. The stock has a market capitalization of $1.90 billion, a P/E ratio of 27.41 and a beta of 1.57. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.33 and a quick ratio of 0.86. The business has a 50-day moving average of $20.30 and a two-hundred day moving average of $23.60.

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

Institutional Investors Weigh In On CVR Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. SIR Capital Management L.P. acquired a new stake in CVR Energy in the second quarter worth about $17,907,000. State Street Corp boosted its stake in CVR Energy by 18.1% in the third quarter. State Street Corp now owns 2,075,058 shares of the oil and gas company’s stock valued at $47,789,000 after acquiring an additional 317,475 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in CVR Energy during the 3rd quarter worth $5,335,000. American Century Companies Inc. raised its position in shares of CVR Energy by 60.3% during the 2nd quarter. American Century Companies Inc. now owns 407,819 shares of the oil and gas company’s stock valued at $10,917,000 after acquiring an additional 153,396 shares during the last quarter. Finally, Denali Advisors LLC grew its position in shares of CVR Energy by 323.6% during the 2nd quarter. Denali Advisors LLC now owns 159,162 shares of the oil and gas company’s stock worth $4,261,000 after buying an additional 121,590 shares during the period. 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.