CVR Energy (NYSE:CVI) Upgraded to Strong Sell by Tudor Pickering

CVR Energy (NYSE:CVI) was upgraded by research analysts at Tudor Pickering to a “strong sell” rating in a report released on Monday, Zacks.com reports.

Several other equities analysts also recently commented on CVI. UBS Group dropped their target price on CVR Energy from $33.75 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Scotiabank lifted their target price on shares of CVR Energy from $24.00 to $25.00 and gave the stock a “sector underperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. decreased their price target on shares of CVR Energy from $30.00 to $26.00 and set an “underweight” rating for the company in a research report on Tuesday, July 2nd. Tudor, Pickering, Holt & Co. lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a report on Monday. Finally, Mizuho initiated coverage on shares of CVR Energy in a research note on Wednesday, July 17th. They issued a “neutral” rating and a $27.00 price objective on the stock. Four research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $27.00.

CVR Energy Trading Down 2.4 %

CVI opened at $21.84 on Monday. The company has a market cap of $2.20 billion, a P/E ratio of 3.35 and a beta of 1.49. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 1.51. The company’s 50 day moving average is $25.21 and its 200-day moving average is $29.17. CVR Energy has a 1-year low of $21.66 and a 1-year high of $38.07.

CVR Energy (NYSE:CVI) last posted its earnings results on Monday, July 29th. The oil and gas company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.39. The firm had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.80 billion. CVR Energy had a net margin of 6.39% and a return on equity of 25.00%. The company’s revenue was down 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.64 earnings per share. Equities research analysts predict that CVR Energy will post 0.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CVI. Susquehanna Fundamental Investments LLC grew its position in shares of CVR Energy by 156.2% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 32,275 shares of the oil and gas company’s stock worth $864,000 after buying an additional 19,675 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of CVR Energy by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 36,562 shares of the oil and gas company’s stock valued at $979,000 after buying an additional 2,451 shares during the period. Millennium Management LLC bought a new stake in CVR Energy in the 2nd quarter valued at about $2,889,000. AQR Capital Management LLC raised its stake in CVR Energy by 223.6% during the 2nd quarter. AQR Capital Management LLC now owns 53,258 shares of the oil and gas company’s stock worth $1,426,000 after buying an additional 36,802 shares during the period. Finally, Squarepoint Ops LLC boosted its holdings in CVR Energy by 10.7% in the second quarter. Squarepoint Ops LLC now owns 131,502 shares of the oil and gas company’s stock worth $3,520,000 after acquiring an additional 12,750 shares in the last quarter. 98.88% of the stock is owned by institutional investors.

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.