Scotiabank Issues Positive Forecast for CVR Energy (NYSE:CVI) Stock Price

CVR Energy (NYSE:CVI) had its target price increased by Scotiabank from $16.00 to $21.00 in a research note published on Monday,Benzinga reports. The firm currently has a sector underperform rating on the oil and gas company’s stock.

Several other analysts have also recently commented on the company. Mizuho raised their target price on CVR Energy from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, April 1st. StockNews.com lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, April 30th. Finally, The Goldman Sachs Group decreased their price target on CVR Energy from $19.00 to $16.00 and set a “sell” rating for the company in a research report on Thursday, March 27th. Six analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to data from MarketBeat, CVR Energy has a consensus rating of “Reduce” and a consensus price target of $22.20.

CVR Energy Price Performance

Shares of NYSE CVI opened at $20.19 on Monday. The company has a current ratio of 1.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.15. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 336.56 and a beta of 1.02. CVR Energy has a twelve month low of $15.10 and a twelve month high of $30.44. The business has a 50 day simple moving average of $18.71 and a 200-day simple moving average of $19.12.

CVR Energy (NYSE:CVI) last issued its earnings results on Monday, April 28th. The oil and gas company reported ($0.58) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.32. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.61 billion. CVR Energy had a net margin of 0.09% and a negative return on equity of 5.12%. CVR Energy’s revenue was down 11.6% on a year-over-year basis. During the same quarter last year, the company posted $0.04 earnings per share. As a group, equities research analysts expect that CVR Energy will post -0.12 earnings per share for the current year.

Insider Activity

In other news, major shareholder Carl C. Icahn acquired 7,907 shares of CVR Energy stock in a transaction dated Tuesday, April 29th. The stock was acquired at an average cost of $18.21 per share, for a total transaction of $143,986.47. Following the completion of the purchase, the insider now owns 70,418,471 shares of the company’s stock, valued at $1,282,320,356.91. This represents a 0.01 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have acquired 1,641,760 shares of company stock worth $28,641,557. 0.01% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CVR Energy

Several hedge funds and other institutional investors have recently made changes to their positions in CVI. Harbor Capital Advisors Inc. grew its position in CVR Energy by 65.5% in the 1st quarter. Harbor Capital Advisors Inc. now owns 1,633 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 646 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in CVR Energy during the 3rd quarter worth approximately $43,000. R Squared Ltd acquired a new stake in CVR Energy in the 4th quarter valued at about $36,000. PNC Financial Services Group Inc. increased its stake 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 valued at $38,000 after buying an additional 731 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of CVR Energy by 106.6% during the first quarter. GAMMA Investing LLC now owns 2,159 shares of the oil and gas company’s stock worth $42,000 after buying an additional 1,114 shares during the last quarter. 98.88% of the stock is owned by institutional investors and hedge funds.

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.