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

CVR Energy (NYSE:CVI) had its price target raised by Mizuho from $18.00 to $20.00 in a research note released on Monday,Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

CVI has been the topic of several other research reports. The Goldman Sachs Group dropped their price objective on CVR Energy from $24.00 to $21.00 and set a “sell” rating on the stock in a report on Friday, December 6th. Tudor, Pickering, Holt & Co. cut CVR Energy from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. lowered their target price 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. Scotiabank reduced their price target on shares of CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating for the company in a research report on Thursday, October 10th. Finally, StockNews.com downgraded shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Saturday, December 14th. Six research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $23.00.

CVR Energy Trading Down 3.1 %

CVI opened at $17.92 on Monday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.86 and a current ratio of 1.33. CVR Energy has a one year low of $15.60 and a one year high of $38.07. The company has a market cap of $1.80 billion, a P/E ratio of 25.97 and a beta of 1.57. The business’s 50-day simple moving average is $19.93 and its 200-day simple moving average is $23.35.

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

Institutional Trading of CVR Energy

Several hedge funds and other institutional investors have recently made changes to their positions in CVI. State Street Corp raised its holdings in CVR Energy by 18.1% during the third quarter. State Street Corp now owns 2,075,058 shares of the oil and gas company’s stock worth $47,789,000 after purchasing an additional 317,475 shares in the last quarter. Dimensional Fund Advisors LP increased its position in CVR Energy by 2.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,072,334 shares of the oil and gas company’s stock worth $55,476,000 after purchasing an additional 44,636 shares during the period. Bank of New York Mellon Corp raised its stake in shares of CVR Energy by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 975,323 shares of the oil and gas company’s stock worth $26,109,000 after buying an additional 3,134 shares in the last quarter. SIR Capital Management L.P. acquired a new stake in shares of CVR Energy in the 2nd quarter valued at approximately $17,907,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of CVR Energy by 14.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 639,138 shares of the oil and gas company’s stock valued at $14,719,000 after buying an additional 81,590 shares in the last quarter. Hedge funds and other institutional investors own 98.88% of the company’s stock.

CVR Energy Company Profile

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.