CVR Energy (NYSE:CVI) Raised to “Hold” at StockNews.com

CVR Energy (NYSE:CVI) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

A number of other analysts have also recently weighed in on the stock. The Goldman Sachs Group cut their price objective on shares of CVR Energy from $24.00 to $21.00 and set a “sell” rating on the stock in a report on Friday, December 6th. Mizuho lifted their price target on shares of CVR Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Five analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $23.00.

CVR Energy Stock Performance

NYSE:CVI opened at $20.21 on Wednesday. CVR Energy has a 12 month low of $15.60 and a 12 month 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. The firm has a market capitalization of $2.03 billion, a PE ratio of 336.87 and a beta of 1.57. The business’s fifty day moving average price is $19.19 and its 200 day moving average price is $21.12.

CVR Energy (NYSE:CVI) last released its quarterly earnings data on Tuesday, February 18th. The oil and gas company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.12). The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.85 billion. CVR Energy had a net margin of 0.09% and a negative return on equity of 4.99%. On average, sell-side analysts anticipate that CVR Energy will post -0.12 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Carl C. Icahn acquired 878,212 shares of CVR Energy stock in a transaction on Wednesday, January 8th. The stock was purchased at an average cost of $18.25 per share, with a total value of $16,027,369.00. Following the purchase, the insider now directly owns 67,570,593 shares in the company, valued at approximately $1,233,163,322.25. The trade was a 1.32 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.01% of the company’s stock.

Hedge Funds Weigh In On CVR Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of CVI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in CVR Energy by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,443 shares of the oil and gas company’s stock valued at $364,000 after purchasing an additional 683 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of CVR Energy by 55.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,052 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 731 shares during the period. Amalgamated Bank boosted its position in CVR Energy by 9.6% during the third quarter. Amalgamated Bank now owns 9,716 shares of the oil and gas company’s stock worth $224,000 after purchasing an additional 849 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in CVR Energy by 1.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,282 shares of the oil and gas company’s stock valued at $1,130,000 after purchasing an additional 1,035 shares during the last quarter. Finally, IHT Wealth Management LLC increased its position in shares of CVR Energy by 14.3% in the fourth quarter. IHT Wealth Management LLC now owns 10,176 shares of the oil and gas company’s stock valued at $191,000 after buying an additional 1,275 shares in the last quarter. 98.88% of the stock is currently owned by hedge funds and other institutional investors.

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.