CVR Energy (NYSE:CVI) Rating Increased to Sector Perform at Scotiabank

CVR Energy (NYSE:CVI) was upgraded by equities researchers at Scotiabank from a “sector underperform” rating to a “sector perform” rating in a report released on Thursday, Price Targets.com reports. The brokerage presently has a $20.00 target price on the oil and gas company’s stock, up from their prior target price of $12.00. Scotiabank’s price objective would indicate a potential downside of 9.99% from the stock’s previous close.

A number of other brokerages also recently weighed in on CVI. Credit Suisse Group raised shares of CVR Energy from an “underperform” rating to a “neutral” rating and raised their target price for the company from $20.00 to $21.00 in a research note on Monday, December 6th. The Goldman Sachs Group raised their price target on shares of CVR Energy from $13.00 to $15.00 and gave the company a “sell” rating in a research report on Thursday, October 14th. Zacks Investment Research downgraded shares of CVR Energy from a “buy” rating to a “sell” rating in a research report on Monday, January 10th. JPMorgan Chase & Co. downgraded shares of CVR Energy from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $20.00 to $19.00 in a research report on Thursday, December 9th. Finally, TheStreet raised shares of CVR Energy from a “d+” rating to a “c” rating in a research report on Tuesday, November 2nd. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, CVR Energy presently has an average rating of “Hold” and a consensus target price of $19.78.

Shares of NYSE CVI opened at $22.22 on Thursday. CVR Energy has a fifty-two week low of $11.22 and a fifty-two week high of $27.02. The company has a 50 day simple moving average of $17.24 and a two-hundred day simple moving average of $16.07. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of -76.62 and a beta of 1.78. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.85 and a current ratio of 1.26.

CVR Energy (NYSE:CVI) last announced its earnings results on Sunday, October 31st. The oil and gas company reported ($0.24) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.20). CVR Energy had a negative net margin of 0.45% and a negative return on equity of 32.20%. The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the prior year, the business posted ($0.96) EPS. On average, analysts forecast that CVR Energy will post -2.14 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the stock. Millennium Management LLC boosted its stake in shares of CVR Energy by 423.3% during the 2nd quarter. Millennium Management LLC now owns 946,906 shares of the oil and gas company’s stock worth $17,006,000 after acquiring an additional 765,955 shares during the last quarter. State Street Corp boosted its stake in shares of CVR Energy by 44.2% during the 2nd quarter. State Street Corp now owns 1,976,769 shares of the oil and gas company’s stock worth $35,503,000 after acquiring an additional 606,264 shares during the last quarter. Towle & Co. purchased a new position in shares of CVR Energy during the 3rd quarter worth $7,482,000. Morgan Stanley boosted its stake in shares of CVR Energy by 1,274.0% during the 2nd quarter. Morgan Stanley now owns 294,960 shares of the oil and gas company’s stock worth $5,298,000 after acquiring an additional 273,492 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of CVR Energy by 46.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 574,119 shares of the oil and gas company’s stock worth $10,312,000 after acquiring an additional 181,320 shares during the last quarter. Institutional investors own 91.40% of the company’s stock.

CVR Energy Company Profile

CVR Energy, Inc is a holding company. The firm engages in the provision of petroleum refining and marketing business. It operates through the following segments: Petroleum and Nitrogen Fertilizer. The company was founded in September 1906 and is headquartered in Sugar Land, TX.

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Analyst Recommendations for CVR Energy (NYSE:CVI)

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