CVR Energy, Inc. (NYSE:CVI) Given Consensus Recommendation of “Strong Sell” by Brokerages

Shares of CVR Energy, Inc. (NYSE:CVI) have been assigned a consensus rating of “Strong Sell” from the seven analysts that are covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a sell recommendation and two have assigned a hold recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $23.00.

Several brokerages recently commented on CVI. StockNews.com downgraded CVR Energy from a “hold” rating to a “sell” rating in a research note on Saturday. The Goldman Sachs Group dropped their price target on CVR Energy from $24.00 to $21.00 and set a “sell” rating on the stock in a research note on Friday, December 6th. JPMorgan Chase & Co. dropped their price target on CVR Energy from $26.00 to $23.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 2nd. Scotiabank dropped their price target on CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating on the stock in a research note on Thursday, October 10th. Finally, Tudor Pickering raised CVR Energy to a “strong sell” rating in a research note on Monday, September 9th.

Hedge Funds Weigh In On CVR Energy

Several hedge funds have recently modified their holdings of CVI. SIR Capital Management L.P. bought a new position in shares of CVR Energy in the 2nd quarter valued at about $17,907,000. State Street Corp grew its holdings in shares of 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 in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in CVR Energy during the third quarter worth about $5,335,000. American Century Companies Inc. grew its holdings in CVR Energy by 60.3% during the second quarter. American Century Companies Inc. now owns 407,819 shares of the oil and gas company’s stock worth $10,917,000 after purchasing an additional 153,396 shares during the period. Finally, Denali Advisors LLC grew its holdings in CVR Energy by 323.6% during the second quarter. Denali Advisors LLC now owns 159,162 shares of the oil and gas company’s stock worth $4,261,000 after purchasing an additional 121,590 shares during the period. Institutional investors own 98.88% of the company’s stock.

CVR Energy Stock Performance

Shares of CVR Energy stock opened at $18.50 on Wednesday. The company has a market capitalization of $1.86 billion, a PE ratio of 26.80 and a beta of 1.57. CVR Energy has a 12 month low of $15.60 and a 12 month high of $38.07. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 1.84. The stock’s fifty day simple moving average is $20.06 and its 200 day simple moving average is $23.39.

CVR Energy (NYSE:CVI) last issued its quarterly earnings data on Monday, October 28th. The oil and gas company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.41). The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.91 billion. CVR Energy had a return on equity of 2.88% and a net margin of 0.89%. The business’s quarterly revenue was down 27.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.89 EPS. On average, research analysts predict that CVR Energy will post -0.12 EPS for the current 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.