Scotiabank Upgrades CVR Energy (NYSE:CVI) to “Sector Perform”

CVR Energy (NYSE:CVI) was upgraded by equities research analysts at Scotiabank from a “sector underperform” rating to a “sector perform” rating in a report issued on Thursday, Analyst Ratings Network reports. The firm currently has a $20.00 target price on the oil and gas company’s stock, up from their prior target price of $12.00. Scotiabank’s target price would suggest a potential downside of 9.99% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. TheStreet raised shares of CVR Energy from a “d+” rating to a “c” rating in a research report on Tuesday, November 2nd. JPMorgan Chase & Co. cut shares of CVR Energy from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $20.00 to $19.00 in a research report on Thursday, December 9th. Zacks Investment Research cut shares of CVR Energy from a “buy” rating to a “sell” rating in a research report on Monday, January 10th. The Goldman Sachs Group boosted their price objective on shares of CVR Energy from $13.00 to $15.00 and gave the stock a “sell” rating in a research note on Thursday, October 14th. Finally, Credit Suisse Group upgraded shares of CVR Energy from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $20.00 to $21.00 in a research note on Monday, December 6th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, CVR Energy has a consensus rating of “Hold” and a consensus price target of $19.78.

CVR Energy stock opened at $22.22 on Thursday. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of -76.62 and a beta of 1.78. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.26 and a quick ratio of 0.85. CVR Energy has a 1 year low of $11.22 and a 1 year high of $27.02. The firm has a 50-day moving average of $17.24 and a two-hundred day moving average of $16.07.

CVR Energy (NYSE:CVI) last announced its quarterly earnings results on Sunday, October 31st. The oil and gas company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.20). CVR Energy had a negative return on equity of 32.20% and a negative net margin of 0.45%. The business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the company posted ($0.96) EPS. Research analysts expect that CVR Energy will post -2.14 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of the business. Future Financial Wealth Managment LLC acquired a new position in CVR Energy during the 4th quarter valued at approximately $36,000. Camelot Portfolios LLC increased its stake in CVR Energy by 28.2% during the 4th quarter. Camelot Portfolios LLC now owns 25,194 shares of the oil and gas company’s stock valued at $424,000 after purchasing an additional 5,548 shares in the last quarter. Moors & Cabot Inc. purchased a new stake in shares of CVR Energy in the 3rd quarter valued at $1,742,000. Bank of New York Mellon Corp boosted its holdings in shares of CVR Energy by 7.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 127,609 shares of the oil and gas company’s stock valued at $2,126,000 after acquiring an additional 8,631 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of CVR Energy by 71.3% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 47,488 shares of the oil and gas company’s stock valued at $791,000 after acquiring an additional 19,772 shares during the last quarter. Institutional investors and hedge funds own 91.40% of the company’s stock.

CVR Energy Company Profile

CVR Energy, Inc is a holding company. The firm engages in the provision of petroleum refining and marketing business. It operates through the following segments: Petroleum and Nitrogen Fertilizer. The company was founded in September 1906 and is headquartered in Sugar Land, TX.

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