CVR Energy Inc. (NYSE:CVI – Get Free Report) has been given an average rating of “Strong Sell” by the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $30.50.
A number of brokerages have commented on CVI. UBS Group restated a “neutral” rating and set a $35.00 price objective on shares of CVR Energy in a research report on Monday, June 29th. Wall Street Zen raised shares of CVR Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Scotiabank boosted their target price on CVR Energy from $25.00 to $28.00 and gave the stock a “sector underperform” rating in a research report on Wednesday, April 22nd. Tudor Pickering cut CVR Energy from a “hold” rating to a “sell” rating in a report on Thursday, June 4th. Finally, Mizuho upped their price objective on CVR Energy from $28.00 to $29.00 and gave the stock an “underperform” rating in a report on Tuesday, August 4th.
View Our Latest Stock Report on CVI
CVR Energy Stock Performance
CVR Energy (NYSE:CVI – Get Free Report) last announced its earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 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 business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the prior year, the company earned ($0.23) earnings per share. The business’s revenue was up 55.5% compared to the same quarter last year. As a group, equities analysts forecast that CVR Energy will post 0.79 earnings per share for the current year.
CVR Energy Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 10th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, August 10th. CVR Energy’s dividend payout ratio (DPR) is currently 58.82%.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of CVR Energy in the 2nd quarter worth approximately $143,262,000. Vanguard Group Inc. grew its holdings in CVR Energy by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 3,705,809 shares of the oil and gas company’s stock valued at $94,276,000 after purchasing an additional 106,906 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of CVR Energy by 16.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,908,062 shares of the oil and gas company’s stock valued at $64,220,000 after buying an additional 265,013 shares in the last quarter. State Street Corp increased its position in shares of CVR Energy by 2.6% in the fourth quarter. State Street Corp now owns 1,779,701 shares of the oil and gas company’s stock valued at $45,276,000 after buying an additional 45,603 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of CVR Energy by 33.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,364,250 shares of the oil and gas company’s stock worth $49,768,000 after buying an additional 345,758 shares during the last quarter. 98.88% of the stock is owned by hedge funds and other institutional investors.
CVR Energy Company Profile
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.
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