Mizuho Cuts CVR Energy (NYSE:CVI) Price Target to $28.00

CVR Energy (NYSE:CVI) had its target price lowered by investment analysts at Mizuho from $35.00 to $28.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “underperform” rating on the oil and gas company’s stock. Mizuho’s target price suggests a potential downside of 3.01% from the company’s previous close.

Other analysts have also issued reports about the company. The Goldman Sachs Group started coverage on CVR Energy in a research note on Friday, April 10th. They issued a “sell” rating and a $30.00 price target on the stock. Wall Street Zen upgraded CVR Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. UBS Group reaffirmed a “neutral” rating and set a $35.00 target price on shares of CVR Energy in a research note on Monday, June 29th. Raymond James Financial raised shares of CVR Energy from an “underperform” rating to a “market perform” rating in a report on Wednesday, March 25th. Finally, Weiss Ratings cut shares of CVR Energy from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Friday, May 15th. Three analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Strong Sell” and a consensus target price of $30.25.

CVR Energy Stock Up 1.4%

CVI opened at $28.87 on Tuesday. The company has a market cap of $2.90 billion, a PE ratio of -67.14 and a beta of 0.83. CVR Energy has a twelve month low of $19.62 and a twelve month high of $41.67. The company has a 50-day moving average price of $31.47 and a 200 day moving average price of $28.45. The company has a quick ratio of 0.89, a current ratio of 1.44 and a debt-to-equity ratio of 2.41.

CVR Energy (NYSE:CVI) last posted its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.70). CVR Energy had a negative return on equity of 22.36% and a negative net margin of 0.56%.The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the firm posted ($0.58) earnings per share. The company’s quarterly revenue was up 20.3% on a year-over-year basis. Sell-side analysts expect that CVR Energy will post 1.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CVI. EverSource Wealth Advisors LLC grew its position in CVR Energy by 44.4% in the first quarter. EverSource Wealth Advisors LLC now owns 1,102 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 339 shares during the period. PNC Financial Services Group Inc. increased its stake in CVR Energy by 51.5% during the first quarter. PNC Financial Services Group Inc. now owns 1,142 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 388 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in CVR Energy in the fourth quarter valued at $40,000. Exchange Traded Concepts LLC purchased a new stake in CVR Energy in the fourth quarter valued at $47,000. Finally, Horizon Investments LLC purchased a new stake in CVR Energy in the fourth quarter valued at $47,000. 98.88% of the stock is currently owned by institutional investors and hedge funds.

About CVR Energy

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.