CVR Energy (NYSE:CVI) Price Target Lowered to $21.00 at The Goldman Sachs Group

CVR Energy (NYSE:CVI) had its price objective decreased by The Goldman Sachs Group from $24.00 to $21.00 in a report released on Friday,Benzinga reports. The firm currently has a “sell” rating on the oil and gas company’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 12.24% from the stock’s previous close.

A number of other equities analysts have also issued reports on CVI. StockNews.com lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, October 30th. Tudor, Pickering, Holt & Co. lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Scotiabank dropped their price objective on CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating for the company in a research note on Thursday, October 10th. Tudor Pickering raised shares of CVR Energy to a “strong sell” rating in a research note on Monday, September 9th. Finally, Mizuho cut their target price on shares of CVR Energy from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Six analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $24.00.

CVR Energy Trading Up 2.1 %

CVR Energy stock traded up $0.39 during midday trading on Friday, reaching $18.71. 335,139 shares of the stock traded hands, compared to its average volume of 1,132,777. The company has a 50-day simple moving average of $20.85 and a two-hundred day simple moving average of $24.03. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 1.84. CVR Energy has a 12-month low of $15.60 and a 12-month high of $38.07. The firm has a market cap of $1.88 billion, a PE ratio of 27.12 and a beta of 1.57.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CVI. SummerHaven Investment Management LLC boosted its stake in shares of CVR Energy by 2.2% in the second quarter. SummerHaven Investment Management LLC now owns 24,511 shares of the oil and gas company’s stock valued at $656,000 after purchasing an additional 530 shares during the period. Amalgamated Bank increased its position in shares of CVR Energy by 9.6% during the third quarter. Amalgamated Bank now owns 9,716 shares of the oil and gas company’s stock worth $224,000 after acquiring an additional 849 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of CVR Energy by 4.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,485 shares of the oil and gas company’s stock worth $767,000 after acquiring an additional 990 shares in the last quarter. Quest Partners LLC boosted its holdings in CVR Energy by 47.3% in the second quarter. Quest Partners LLC now owns 3,485 shares of the oil and gas company’s stock valued at $93,000 after purchasing an additional 1,119 shares during the last quarter. Finally, Headlands Technologies LLC increased its holdings in CVR Energy by 820.5% during the 2nd quarter. Headlands Technologies LLC now owns 1,482 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 1,321 shares during the last quarter. Institutional investors and hedge funds 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.