Brokerages Set CVR Energy, Inc. (NYSE:CVI) Target Price at $23.00

CVR Energy, Inc. (NYSE:CVI) has been assigned an average recommendation of “Strong Sell” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $23.00.

Several brokerages have recently weighed in on CVI. StockNews.com cut shares of CVR Energy from a “hold” rating to a “sell” rating in a research note on Saturday, December 14th. Mizuho raised their target price on shares of CVR Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. JPMorgan Chase & Co. cut their price target on shares of CVR Energy from $26.00 to $23.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 2nd. The Goldman Sachs Group reduced their price objective on shares of CVR Energy from $24.00 to $21.00 and set a “sell” rating for the company in a research note on Friday, December 6th. Finally, Scotiabank lowered their target price on CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating on the stock in a research report on Thursday, October 10th.

Insider Buying and Selling at CVR Energy

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CVI. State Street Corp raised its stake in CVR Energy by 18.1% in the 3rd quarter. State Street Corp now owns 2,075,058 shares of the oil and gas company’s stock valued at $47,789,000 after acquiring an additional 317,475 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new position in shares of CVR Energy in the third quarter valued at about $5,335,000. American Century Companies Inc. raised its position in shares of CVR Energy by 60.3% in the second quarter. American Century Companies Inc. now owns 407,819 shares of the oil and gas company’s stock valued at $10,917,000 after purchasing an additional 153,396 shares during the period. Denali Advisors LLC lifted its stake in shares of CVR Energy by 323.6% during the 2nd quarter. Denali Advisors LLC now owns 159,162 shares of the oil and gas company’s stock worth $4,261,000 after buying an additional 121,590 shares during the last quarter. Finally, Millennium Management LLC bought a new stake in shares of CVR Energy during the 2nd quarter worth about $2,889,000. 98.88% of the stock is currently owned by institutional investors.

CVR Energy Price Performance

Shares of NYSE CVI opened at $21.07 on Friday. The company has a fifty day moving average price of $18.96 and a 200 day moving average price of $22.14. The firm has a market cap of $2.12 billion, a PE ratio of 30.53 and a beta of 1.58. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 1.84. CVR Energy has a 1-year low of $15.60 and a 1-year high of $38.07.

CVR Energy (NYSE:CVI) last posted its quarterly earnings data on Monday, October 28th. The oil and gas company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.41). CVR Energy had a return on equity of 2.88% and a net margin of 0.89%. The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period in the prior year, the company earned $1.89 earnings per share. The firm’s quarterly revenue was down 27.3% on a year-over-year basis. Research analysts predict that CVR Energy will post -0.79 earnings per share for the current fiscal year.

About CVR Energy

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.