Wall Street Zen Upgrades CVR Energy (NYSE:CVI) to “Strong-Buy”

CVR Energy (NYSE:CVI – Get Free Report) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other equities research analysts have also recently weighed in on the stock. Weiss Ratings upgraded shares of CVR Energy from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday. UBS Group lifted their target price on shares of CVR Energy from $35.00 to $53.00 and gave the company a “neutral” rating in a report on Friday, October 2nd. Zacks Research upgraded shares of CVR Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Mizuho boosted their price target on CVR Energy from $29.00 to $52.00 and gave the stock an “underperform” rating in a research report on Thursday. Finally, The Goldman Sachs Group upped their price target on CVR Energy from $36.00 to $50.00 and gave the stock a “sell” rating in a research note on Friday. Four investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, CVR Energy presently has a consensus rating of “Reduce” and a consensus price target of $45.75.

View Our Latest Stock Report on CVI

CVR Energy Stock Down 0.0%

Shares of CVR Energy stock opened at $58.01 on Friday. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.42 and a quick ratio of 0.92. The company has a 50-day moving average of $44.79 and a 200 day moving average of $36.54. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of 85.30 and a beta of 0.90. CVR Energy has a 1 year low of $19.62 and a 1 year high of $61.09.

CVR Energy (NYSE:CVI – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same period last year, the company posted ($0.23) EPS. CVR Energy’s revenue was up 55.5% on a year-over-year basis. As a group, sell-side analysts anticipate that CVR Energy will post 1.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CVR Energy

Several large investors have recently modified their holdings of CVI. Farther Finance Advisors LLC boosted its stake in CVR Energy by 197.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,153 shares of the oil and gas company’s stock worth $59,000 after purchasing an additional 765 shares in the last quarter. Congress Asset Management Co. increased its stake in CVR Energy by 20.7% during the 3rd quarter. Congress Asset Management Co. now owns 110,723 shares of the oil and gas company’s stock valued at $5,646,000 after purchasing an additional 18,966 shares in the last quarter. CX Institutional increased its stake in CVR Energy by 5,362.5% during the 3rd quarter. CX Institutional now owns 1,311 shares of the oil and gas company’s stock valued at $67,000 after purchasing an additional 1,287 shares in the last quarter. State Street Corp increased its stake in CVR Energy by 11.0% during the 2nd quarter. State Street Corp now owns 2,153,498 shares of the oil and gas company’s stock valued at $59,315,000 after purchasing an additional 213,829 shares in the last quarter. Finally, WINTON GROUP Ltd increased its stake in CVR Energy by 357.8% during the 2nd quarter. WINTON GROUP Ltd now owns 164,204 shares of the oil and gas company’s stock valued at $4,522,000 after purchasing an additional 128,339 shares in the last quarter. Hedge funds and other institutional investors own 98.88% of the company’s stock.

About CVR Energy

(Get Free Report)

CVR Energy, Inc is a diversified energy company engaged primarily in petroleum refining and nitrogen fertilizer production. Headquartered in Sugar Land, Texas, the company operates through subsidiaries that serve customers in the United States, with activities concentrated in the Midcontinent region.

Through its refining operations, CVR Energy processes crude oil into transportation fuels and other refined products, including gasoline, diesel fuel, jet fuel and asphalt. Its refineries are located in Coffeyville, Kansas, and Wynnewood, Oklahoma, and are supported by related logistics, storage and transportation assets.

CVR Energy also owns and operates nitrogen fertilizer facilities through CVR Partners, LP.

Further Reading

Analyst Recommendations for CVR Energy (NYSE:CVI)

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