Mizuho Forecasts Strong Price Appreciation for CVR Energy (NYSE:CVI) Stock

CVR Energy (NYSE:CVI) had its price objective hoisted by Mizuho from $29.00 to $52.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “underperform” rating on the oil and gas company’s stock. Mizuho’s price target suggests a potential downside of 9.31% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Zacks Research upgraded shares of CVR Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Wall Street Zen upgraded shares of CVR Energy from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Weiss Ratings upgraded shares of CVR Energy from a “sell (d-)” rating to a “hold (c)” rating in a report on Tuesday, September 22nd. Finally, UBS Group upped their target price on shares of CVR Energy from $35.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, October 2nd. Four research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $40.75.

CVR Energy Stock Performance

NYSE CVI opened at $57.34 on Thursday. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.42 and a quick ratio of 0.92. CVR Energy has a 1-year low of $19.62 and a 1-year high of $58.92. The business has a 50 day simple moving average of $43.92 and a two-hundred day simple moving average of $36.18. The stock has a market capitalization of $5.76 billion, a PE ratio of 84.32 and a beta of 0.90.

CVR Energy (NYSE:CVI) last issued its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.08. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.22 billion. CVR Energy had a negative return on equity of 15.21% and a net margin of 0.81%.The company’s revenue for the quarter was up 55.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.23) EPS. On average, research analysts predict that CVR Energy will post 1.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CVI. BlackRock Inc. purchased a new stake in shares of CVR Energy in the second quarter valued at $143,262,000. Dimensional Fund Advisors LP boosted its stake in shares of CVR Energy by 16.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,908,062 shares of the oil and gas company’s stock worth $64,220,000 after purchasing an additional 265,013 shares during the period. State Street Corp boosted its stake in shares of CVR Energy by 11.0% during the 2nd quarter. State Street Corp now owns 2,153,498 shares of the oil and gas company’s stock worth $59,315,000 after purchasing an additional 213,829 shares during the period. Bank of America Corp DE grew its holdings in CVR Energy by 19.4% during the 2nd quarter. Bank of America Corp DE now owns 671,728 shares of the oil and gas company’s stock valued at $18,499,000 after purchasing an additional 109,338 shares during the last quarter. Finally, PDT Partners LLC bought a new position in CVR Energy during the 2nd quarter valued at about $14,502,000. Institutional investors own 98.88% of the company’s stock.

CVR Energy Company Profile

CVR Energy, Inc is a diversified energy company engaged primarily in petroleum refining and nitrogen fertilizer production. Headquartered in Sugar Land, Texas, the company operates through subsidiaries that serve customers in the United States, with activities concentrated in the Midcontinent region.

Through its refining operations, CVR Energy processes crude oil into transportation fuels and other refined products, including gasoline, diesel fuel, jet fuel and asphalt. Its refineries are located in Coffeyville, Kansas, and Wynnewood, Oklahoma, and are supported by related logistics, storage and transportation assets.

CVR Energy also owns and operates nitrogen fertilizer facilities through CVR Partners, LP.