CVR Energy (NYSE:CVI) Downgraded by StockNews.com to “Sell”

CVR Energy (NYSE:CVI) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

Several other analysts have also recently issued reports on the stock. JPMorgan Chase & Co. decreased 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. Mizuho cut their price target on shares of CVR Energy from $27.00 to $25.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Tudor Pickering upgraded shares of CVR Energy to a “strong sell” rating in a research note on Monday, September 9th. Tudor, Pickering, Holt & Co. lowered CVR Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Finally, Scotiabank reduced 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. Five investment 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 company presently has a consensus rating of “Reduce” and a consensus price target of $24.75.

CVR Energy Stock Down 5.3 %

Shares of NYSE CVI traded down $0.95 during midday trading on Wednesday, hitting $17.11. The stock had a trading volume of 3,440,178 shares, compared to its average volume of 1,087,947. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 1.51. The business’s 50 day moving average is $23.58 and its 200-day moving average is $26.31. CVR Energy has a 52 week low of $16.75 and a 52 week high of $38.07. The company has a market cap of $1.72 billion, a P/E ratio of 24.79 and a beta of 1.48.

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 firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.91 billion. CVR Energy had a return on equity of 25.00% and a net margin of 6.39%. The business’s revenue was down 27.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.89 EPS. As a group, analysts predict that CVR Energy will post 0.35 EPS for the current year.

Institutional Trading of CVR Energy

A number of hedge funds have recently bought and sold shares of the business. Amalgamated Bank increased its holdings in shares of CVR Energy by 9.6% during the 3rd quarter. Amalgamated Bank now owns 9,716 shares of the oil and gas company’s stock worth $224,000 after buying an additional 849 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of CVR Energy by 14.0% in the third quarter. State of Alaska Department of Revenue now owns 19,505 shares of the oil and gas company’s stock worth $449,000 after acquiring an additional 2,388 shares in the last quarter. Louisiana State Employees Retirement System raised its position in CVR Energy by 12.2% in the 3rd quarter. Louisiana State Employees Retirement System now owns 16,500 shares of the oil and gas company’s stock valued at $380,000 after purchasing an additional 1,800 shares in the last quarter. International Assets Investment Management LLC acquired a new position in CVR Energy during the 3rd quarter worth approximately $382,000. Finally, Everence Capital Management Inc. increased its holdings in CVR Energy by 34.4% in the third quarter. Everence Capital Management Inc. now owns 42,150 shares of the oil and gas company’s stock valued at $971,000 after buying an additional 10,790 shares during the last quarter. Institutional investors and hedge funds own 98.88% of the company’s stock.

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.