CVR Energy (NYSE:CVI) Raised to Buy at StockNews.com

StockNews.com upgraded shares of CVR Energy (NYSE:CVI) from a hold rating to a buy rating in a report released on Friday.

Separately, Scotiabank raised their target price on CVR Energy from $25.00 to $29.00 and gave the company a sector underperform rating in a research report on Thursday, April 11th.

CVR Energy Trading Up 0.2 %

Shares of NYSE:CVI opened at $29.49 on Friday. The business’s 50 day moving average price is $34.13 and its 200-day moving average price is $32.74. CVR Energy has a 1 year low of $22.60 and a 1 year high of $39.36. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 4.52 and a beta of 1.59. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.49 and a quick ratio of 0.94.

CVR Energy (NYSE:CVI) last announced its earnings results on Monday, April 29th. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.09). CVR Energy had a net margin of 7.44% and a return on equity of 40.14%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the business earned $1.44 EPS. The firm’s revenue for the quarter was down 18.5% compared to the same quarter last year. On average, equities research analysts forecast that CVR Energy will post 2.4 earnings per share for the current fiscal year.

CVR Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 13th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, May 10th. This represents a $2.00 dividend on an annualized basis and a yield of 6.78%. CVR Energy’s payout ratio is presently 30.67%.

Institutional Trading of CVR Energy

A number of hedge funds have recently bought and sold shares of the business. Jones Financial Companies Lllp purchased a new stake in shares of CVR Energy in the fourth quarter valued at approximately $33,000. Future Financial Wealth Managment LLC purchased a new stake in CVR Energy in the 1st quarter valued at $71,000. Scarborough Advisors LLC acquired a new stake in shares of CVR Energy in the 4th quarter worth $89,000. TFO Wealth Partners LLC raised its holdings in shares of CVR Energy by 246,550.0% during the 4th quarter. TFO Wealth Partners LLC now owns 4,933 shares of the oil and gas company’s stock worth $149,000 after acquiring an additional 4,931 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of CVR Energy by 54.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,704 shares of the oil and gas company’s stock valued at $194,000 after acquiring an additional 2,008 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.