CVR Energy Inc. (CVI) Upgraded by Piper Jaffray Cos. to Neutral
CVR Energy Inc. (NYSE:CVI) was upgraded by equities research analysts at Piper Jaffray Cos. from an “underweight” rating to a “neutral” rating in a research note issued to investors on Monday.
Separately, Goldman Sachs Group Inc. reissued a “sell” rating on shares of CVR Energy in a research note on Wednesday, June 29th.
CVR Energy (NYSE:CVI) opened at 13.95 on Monday. CVR Energy has a 52-week low of $13.01 and a 52-week 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. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 48.95 and a beta of 1.79.
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CVR Energy (NYSE:CVI) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.27. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.15 billion. CVR Energy had a return on equity of 5.84% and a net margin of 0.54%. CVR Energy’s quarterly revenue was down 21.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.17 EPS. Equities research analysts anticipate that CVR Energy will post $0.37 EPS for the current year.
A number of institutional investors have recently bought and sold shares of CVI. First Trust Advisors LP increased its stake in CVR Energy by 273.6% in the second quarter. First Trust Advisors LP now owns 1,331,765 shares of the company’s stock worth $20,642,000 after buying an additional 975,336 shares during the last quarter. State Street Corp increased its stake in CVR Energy by 49.1% in the second quarter. State Street Corp now owns 951,428 shares of the company’s stock worth $14,746,000 after buying an additional 313,177 shares during the last quarter. Advisors Asset Management Inc. increased its stake in CVR Energy by 9.8% in the second quarter. Advisors Asset Management Inc. now owns 691,690 shares of the company’s stock worth $10,721,000 after buying an additional 61,521 shares during the last quarter. AQR Capital Management LLC increased its stake in CVR Energy by 45.9% in the second quarter. AQR Capital Management LLC now owns 644,264 shares of the company’s stock worth $9,987,000 after buying an additional 202,630 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in CVR Energy by 23.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 501,692 shares of the company’s stock worth $7,776,000 after buying an additional 94,166 shares during the last quarter.
About CVR Energy
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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