CVR Energy, Inc. (NYSE:CVI) Receives Consensus Recommendation of “Strong Sell” from Brokerages

Shares of CVR Energy, Inc. (NYSE:CVI) have received an average rating of “Strong Sell” from the five ratings firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $27.80.

Several equities analysts have commented on the stock. Scotiabank boosted their price target on shares of CVR Energy from $24.00 to $25.00 and gave the stock a “sector underperform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lowered their target price on CVR Energy from $30.00 to $26.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 2nd. UBS Group lowered their price objective on CVR Energy from $33.75 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday. Mizuho started coverage on shares of CVR Energy in a research note on Wednesday, July 17th. They set a “neutral” rating and a $27.00 price target on the stock. Finally, StockNews.com lowered shares of CVR Energy from a “buy” rating to a “hold” rating in a research report on Sunday, June 16th.

CVR Energy Price Performance

Shares of NYSE CVI opened at $25.66 on Friday. CVR Energy has a 52 week low of $23.80 and a 52 week high of $38.07. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 3.94 and a beta of 1.54. The company has a quick ratio of 0.91, a current ratio of 1.46 and a debt-to-equity ratio of 1.51. The firm has a 50-day simple moving average of $26.11 and a 200-day simple moving average of $30.48.

CVR Energy (NYSE:CVI) last announced its quarterly earnings results on Monday, July 29th. The oil and gas company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.30) by $0.39. The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.80 billion. CVR Energy had a return on equity of 25.00% and a net margin of 6.39%. The company’s quarterly revenue was down 12.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.64 EPS. On average, equities analysts predict that CVR Energy will post 0.25 earnings per share for the current fiscal year.

CVR Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Monday, August 12th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.79%. CVR Energy’s dividend payout ratio (DPR) is presently 30.67%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in CVR Energy by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 4,020,717 shares of the oil and gas company’s stock valued at $143,379,000 after purchasing an additional 85,773 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of CVR Energy by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,072,334 shares of the oil and gas company’s stock worth $55,476,000 after purchasing an additional 44,636 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in CVR Energy by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 975,323 shares of the oil and gas company’s stock valued at $26,109,000 after purchasing an additional 3,134 shares during the last quarter. SIR Capital Management L.P. bought a new stake in CVR Energy during the second quarter worth approximately $17,907,000. Finally, Charles Schwab Investment Management Inc. grew its position in CVR Energy by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 554,792 shares of the oil and gas company’s stock worth $16,810,000 after buying an additional 11,614 shares during the last quarter. Hedge funds and other institutional investors 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.