Zacks Research Downgrades CVR Energy (NYSE:CVI) to Strong Sell

CVR Energy (NYSE:CVI) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.

CVI has been the subject of a number of other research reports. Wall Street Zen raised shares of CVR Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Tudor Pickering cut CVR Energy from a “hold” rating to a “sell” rating in a research note on Thursday, June 4th. Scotiabank increased their price target on shares of CVR Energy from $25.00 to $28.00 and gave the company a “sector underperform” rating in a research report on Wednesday, April 22nd. The Goldman Sachs Group initiated coverage on CVR Energy in a research note on Friday, April 10th. They set a “sell” rating and a $30.00 price objective on the stock. Finally, UBS Group restated a “neutral” rating and set a $35.00 target price on shares of CVR Energy in a report on Monday, June 29th. Two analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Strong Sell” and an average price target of $30.25.

CVR Energy Stock Down 0.9%

NYSE:CVI opened at $28.63 on Monday. The company has a market cap of $2.88 billion, a price-to-earnings ratio of -66.58 and a beta of 0.83. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.89 and a current ratio of 1.44. The stock’s fifty day moving average price is $31.42 and its two-hundred day moving average price is $28.45. CVR Energy has a 52-week low of $19.62 and a 52-week high of $41.67.

CVR Energy (NYSE:CVI) last released its earnings results on Wednesday, April 29th. The oil and gas company reported ($1.24) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.70). The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.73 billion. CVR Energy had a negative net margin of 0.56% and a negative return on equity of 22.36%. The firm’s quarterly revenue was up 20.3% on a year-over-year basis. During the same period last year, the business posted ($0.58) earnings per share. On average, analysts anticipate that CVR Energy will post -0.16 EPS for the current year.

Institutional Investors Weigh In On CVR Energy

Institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC increased its position in CVR Energy by 15.1% during the 1st quarter. Empowered Funds LLC now owns 21,171 shares of the oil and gas company’s stock valued at $712,000 after purchasing an additional 2,772 shares during the period. Amundi increased its holdings in shares of CVR Energy by 26.1% during the first quarter. Amundi now owns 20,381 shares of the oil and gas company’s stock valued at $686,000 after acquiring an additional 4,213 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in CVR Energy by 44.4% during the first quarter. EverSource Wealth Advisors LLC now owns 1,102 shares of the oil and gas company’s stock worth $37,000 after buying an additional 339 shares during the last quarter. Entropy Technologies LP purchased a new stake in shares of CVR Energy in the first quarter worth approximately $634,000. Finally, Sei Investments Co. lifted its stake in CVR Energy by 75.7% during the 1st quarter. Sei Investments Co. now owns 23,940 shares of the oil and gas company’s stock valued at $806,000 after acquiring an additional 10,312 shares in the last quarter. 98.88% of the stock is owned by institutional investors.

CVR Energy Company Profile

CVR Energy, Inc is an independent downstream energy company engaged primarily in petroleum refining and nitrogen fertilizer production in the United States. Headquartered in Sugar Land, Texas, CVR Energy operates through two reportable segments—Petroleum Products and Nitrogen Fertilizers—leveraging its refining expertise and distribution network to serve both wholesale and retail markets across key regions in the U.S.

In its Petroleum Products segment, the company owns and operates the Coffeyville, Kansas refinery, which has the capability to process various grades of crude oil into gasoline, diesel, jet fuel and other refined products.