CVR Energy Inc. (CVI) Rating Increased to Neutral at Piper Jaffray Cos.
CVR Energy Inc. (NYSE:CVI) was upgraded by research analysts at Piper Jaffray Cos. from an “underweight” rating to a “neutral” rating in a research report issued on Monday. The brokerage currently has a $14.00 target price on the stock, up from their previous target price of $10.00. Piper Jaffray Cos.’s target price indicates a potential upside of 0.36% from the stock’s previous close.
Separately, Goldman Sachs Group Inc. restated a “sell” rating on shares of CVR Energy in a research report on Wednesday, June 29th.
CVR Energy (NYSE:CVI) traded up 6.67% on Monday, hitting $14.88. 764,223 shares of the stock were exchanged. The company has a market capitalization of $1.29 billion, a PE ratio of 52.21 and a beta of 1.79. CVR Energy has a 1-year low of $13.01 and a 1-year high of $48.37. The company has a 50-day moving average price of $14.39 and a 200 day moving average price of $18.05.
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CVR Energy (NYSE:CVI) last announced its earnings results on Thursday, July 28th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.27. CVR Energy had a net margin of 0.54% and a return on equity of 5.84%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the business posted $1.17 EPS. The business’s revenue was down 21.0% compared to the same quarter last year. Analysts anticipate that CVR Energy will post $0.37 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. Invictus RG purchased a new stake in CVR Energy during the first quarter valued at about $157,000. Quantbot Technologies LP raised its stake in CVR Energy by 77.1% in the second quarter. Quantbot Technologies LP now owns 7,627 shares of the company’s stock valued at $118,000 after buying an additional 3,320 shares in the last quarter. BlackRock Advisors LLC raised its stake in CVR Energy by 1.3% in the second quarter. BlackRock Advisors LLC now owns 7,783 shares of the company’s stock valued at $121,000 after buying an additional 99 shares in the last quarter. Legal & General Group Plc raised its stake in CVR Energy by 726.9% in the second quarter. Legal & General Group Plc now owns 8,542 shares of the company’s stock valued at $131,000 after buying an additional 7,509 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in CVR Energy by 936.1% in the second quarter. Royal Bank of Canada now owns 10,081 shares of the company’s stock valued at $156,000 after buying an additional 9,108 shares in the last quarter.
CVR Energy Company Profile
CVR Energy, Inc (CVR Energy) is a holding company. The Company engages in the petroleum refining and nitrogen fertilizer manufacturing through its holdings in CVR Refining LP (CVR Refining or the Refining Partnership) and CVR Partners LP (CVR Partners or the Nitrogen Fertilizer Partnership). It operates under two business segments: petroleum (the petroleum and related businesses operated by the Refining Partnership) and nitrogen fertilizer (the nitrogen fertilizer business operated by the Nitrogen Fertilizer Partnership).
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