Citigroup Cuts CVR Energy (NYSE:CVI) Price Target to $28.00

CVR Energy (NYSE:CVI) had its target price cut by equities research analysts at Citigroup from $31.00 to $28.00 in a research note issued to investors on Wednesday, The Fly reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. Citigroup’s target price would suggest a potential upside of 19.45% from the company’s current price.

A number of other research firms have also commented on CVI. Scotiabank raised their price objective on shares of CVR Energy from $17.00 to $23.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 2nd. Credit Suisse Group raised shares of CVR Energy from an “underperform” rating to a “neutral” rating in a research note on Wednesday, February 17th. Finally, Tudor Pickering downgraded shares of CVR Energy from a “hold” rating to a “sell” rating and set a $15.00 target price on the stock. in a research note on Friday, May 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $22.20.

CVI stock opened at $23.44 on Wednesday. The company has a 50 day moving average price of $21.21. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.61 and a quick ratio of 1.23. CVR Energy has a 12 month low of $9.81 and a 12 month high of $27.02. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of -11.32 and a beta of 1.97.

CVR Energy (NYSE:CVI) last released its quarterly earnings data on Sunday, May 2nd. The oil and gas company reported ($1.33) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.16). CVR Energy had a negative net margin of 4.86% and a negative return on equity of 30.75%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1 billion. Analysts anticipate that CVR Energy will post -0.85 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of the business. Virtu Financial LLC purchased a new position in shares of CVR Energy during the first quarter worth approximately $473,000. Squarepoint Ops LLC raised its stake in shares of CVR Energy by 96.7% during the first quarter. Squarepoint Ops LLC now owns 42,038 shares of the oil and gas company’s stock worth $806,000 after acquiring an additional 20,666 shares in the last quarter. Millennium Management LLC raised its stake in shares of CVR Energy by 187.1% during the first quarter. Millennium Management LLC now owns 180,951 shares of the oil and gas company’s stock worth $3,471,000 after acquiring an additional 117,925 shares in the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of CVR Energy by 21.1% during the first quarter. D. E. Shaw & Co. Inc. now owns 366,885 shares of the oil and gas company’s stock worth $7,037,000 after acquiring an additional 63,811 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new position in shares of CVR Energy during the first quarter worth approximately $244,000. 91.50% of the stock is currently owned by hedge funds and other institutional investors.

CVR Energy Company Profile

CVR Energy, Inc, through its subsidiaries, engages in petroleum refining and nitrogen fertilizer manufacturing activities in the United States. The company operates through two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment refines and markets gasoline, diesel fuel, and other refined products.

Further Reading: How to find the components of the quick ratio

The Fly logo

Analyst Recommendations for CVR Energy (NYSE:CVI)

Receive News & Ratings for CVR Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVR Energy and related companies with MarketBeat.com's FREE daily email newsletter.