CVR Energy (NYSE:CVI) Rating Lowered to Sell at Wall Street Zen

CVR Energy (NYSE:CVI) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

CVI has been the topic of several other research reports. Weiss Ratings cut CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research report on Friday, February 20th. Scotiabank upgraded CVR Energy to a “strong sell” rating in a research note on Friday, March 27th. Mizuho upped their price objective on CVR Energy from $28.00 to $32.00 and gave the stock an “underperform” rating in a report on Tuesday, March 17th. Raymond James Financial upgraded CVR Energy from an “underperform” rating to a “market perform” rating in a research report on Wednesday, March 25th. Finally, The Goldman Sachs Group raised their target price on CVR Energy from $22.00 to $25.00 and gave the company a “sell” rating in a report on Thursday, March 12th. Two equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Strong Sell” and a consensus target price of $30.00.

CVR Energy Stock Down 0.2%

CVI stock opened at $31.59 on Friday. The stock has a market capitalization of $3.18 billion, a PE ratio of 121.50 and a beta of 0.94. The company has a fifty day moving average of $26.54 and a 200-day moving average of $30.23. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.13 and a current ratio of 1.79. CVR Energy has a one year low of $15.10 and a one year high of $41.67.

CVR Energy (NYSE:CVI) last issued its quarterly earnings results on Wednesday, February 18th. The oil and gas company reported ($0.80) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.04. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.70 billion. CVR Energy had a net margin of 0.38% and a negative return on equity of 14.31%. The business’s revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.13) earnings per share. As a group, analysts expect that CVR Energy will post -0.12 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Carl C. Icahn bought 275,012 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was purchased at an average price of $21.41 per share, with a total value of $5,888,006.92. Following the purchase, the insider owned 71,201,875 shares of the company’s stock, valued at $1,524,432,143.75. This trade represents a 0.39% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have bought 783,404 shares of company stock valued at $16,445,044. Insiders own 0.01% of the company’s stock.

Institutional Investors Weigh In On CVR Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC purchased a new stake in shares of CVR Energy during the fourth quarter worth about $292,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of CVR Energy by 1,817.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,394 shares of the oil and gas company’s stock valued at $86,000 after buying an additional 3,217 shares during the period. Invesco Ltd. boosted its position in CVR Energy by 19.2% during the fourth quarter. Invesco Ltd. now owns 714,428 shares of the oil and gas company’s stock worth $18,175,000 after acquiring an additional 115,219 shares during the last quarter. Vident Advisory LLC boosted its position in CVR Energy by 369.4% during the fourth quarter. Vident Advisory LLC now owns 30,822 shares of the oil and gas company’s stock worth $784,000 after acquiring an additional 24,256 shares during the last quarter. Finally, NewEdge Advisors LLC grew its stake in CVR Energy by 5.6% in the 4th quarter. NewEdge Advisors LLC now owns 13,394 shares of the oil and gas company’s stock worth $341,000 after acquiring an additional 709 shares during the period. 98.88% of the stock is currently owned by hedge funds and other institutional investors.

About CVR Energy

CVR Energy, Inc is an independent downstream energy company engaged primarily in petroleum refining and nitrogen fertilizer production in the United States. Headquartered in Sugar Land, Texas, CVR Energy operates through two reportable segments—Petroleum Products and Nitrogen Fertilizers—leveraging its refining expertise and distribution network to serve both wholesale and retail markets across key regions in the U.S.

In its Petroleum Products segment, the company owns and operates the Coffeyville, Kansas refinery, which has the capability to process various grades of crude oil into gasoline, diesel, jet fuel and other refined products.