CVR Energy (NYSE:CVI) Upgraded at Raymond James Financial

CVR Energy (NYSE:CVI) was upgraded by analysts at Raymond James Financial from an “underperform” rating to a “market perform” rating in a research note issued on Wednesday,Finviz reports.

Several other brokerages also recently issued reports on CVI. Mizuho increased their price objective on shares of CVR Energy from $28.00 to $32.00 and gave the company an “underperform” rating in a research report on Tuesday, March 17th. The Goldman Sachs Group upped their target price on shares of CVR Energy from $22.00 to $25.00 and gave the company a “sell” rating in a research note on Thursday, March 12th. Weiss Ratings lowered shares of CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a report on Friday, February 20th. Finally, Wall Street Zen raised shares of CVR Energy from a “sell” rating to a “hold” rating in a research note on Saturday. Two investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Strong Sell” and a consensus price target of $30.00.

CVR Energy Price Performance

Shares of NYSE CVI opened at $33.08 on Wednesday. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.79 and a quick ratio of 1.13. CVR Energy has a 1-year low of $15.10 and a 1-year high of $41.67. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 127.24 and a beta of 1.12. The business has a 50-day moving average of $25.07 and a 200-day moving average of $30.17.

CVR Energy (NYSE:CVI) last announced its earnings results on Wednesday, February 18th. The oil and gas company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($0.84) by $0.04. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.70 billion. CVR Energy had a negative return on equity of 14.31% and a net margin of 0.38%.The company’s revenue was down 7.0% on a year-over-year basis. During the same period last year, the business posted ($0.13) EPS. On average, equities analysts anticipate that CVR Energy will post -0.12 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Carl C. Icahn purchased 275,012 shares of CVR Energy stock in a transaction dated Tuesday, February 24th. The shares were acquired at an average price of $21.41 per share, with a total value of $5,888,006.92. Following the completion of the transaction, the insider owned 71,201,875 shares of the company’s stock, valued at approximately $1,524,432,143.75. This trade represents a 0.39% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have bought 783,404 shares of company stock valued at $16,445,044. Corporate insiders own 0.01% of the company’s stock.

Institutional Trading of CVR Energy

Several hedge funds and other institutional investors have recently bought and sold shares of CVI. Aster Capital Management DIFC Ltd acquired a new stake in CVR Energy during the fourth quarter valued at approximately $40,000. Exchange Traded Concepts LLC bought a new stake in shares of CVR Energy in the 4th quarter valued at approximately $47,000. Horizon Investments LLC bought a new stake in shares of CVR Energy in the 4th quarter valued at approximately $47,000. Quarry LP acquired a new stake in shares of CVR Energy during the 3rd quarter valued at approximately $50,000. Finally, Raymond James Financial Inc. bought a new position in CVR Energy during the second quarter worth $53,000. 98.88% of the stock is owned by institutional investors.

CVR Energy Company Profile

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.