Zacks: CVR Energy, Inc. (CVI) Given $48.00 Consensus Target Price by Analysts

CVR Energy, Inc. (NYSE:CVI) has earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.

Analysts have set a 1 year consensus target price of $48.00 for the company, according to Zacks. Zacks has also given CVR Energy an industry rank of 158 out of 257 based on the ratings given to related companies.

Several research analysts recently weighed in on the company. Goldman Sachs Group cut CVR Energy from a “buy” rating to a “neutral” rating and reduced their price target for the company from $47.00 to $45.00 in a research report on Tuesday, November 6th. Citigroup started coverage on CVR Energy in a research report on Wednesday, October 31st. They issued a “buy” rating and a $48.00 price objective for the company. Finally, ValuEngine cut CVR Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th.

CVI stock traded down $1.07 during trading on Friday, hitting $37.66. 659,660 shares of the company traded hands, compared to its average volume of 480,638. The company has a current ratio of 2.30, a quick ratio of 1.59 and a debt-to-equity ratio of 0.63. The stock has a market cap of $3.89 billion, a P/E ratio of 18.10 and a beta of 1.32. CVR Energy has a 1 year low of $28.14 and a 1 year high of $47.67.

CVR Energy (NYSE:CVI) last announced its quarterly earnings results on Wednesday, October 24th. The oil and gas company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.11. The company had revenue of $1.94 billion during the quarter. CVR Energy had a return on equity of 11.10% and a net margin of 5.84%.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 12th. Stockholders of record on Monday, November 5th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 7.97%. The ex-dividend date was Friday, November 2nd.

Several institutional investors have recently bought and sold shares of CVI. Marshall Wace LLP purchased a new stake in shares of CVR Energy in the third quarter valued at approximately $12,000,000. BlackRock Inc. increased its position in shares of CVR Energy by 25.3% in the third quarter. BlackRock Inc. now owns 1,427,502 shares of the oil and gas company’s stock valued at $57,413,000 after buying an additional 288,591 shares in the last quarter. Natixis purchased a new stake in shares of CVR Energy in the second quarter valued at approximately $8,003,000. Teachers Advisors LLC increased its position in shares of CVR Energy by 354.0% in the third quarter. Teachers Advisors LLC now owns 153,127 shares of the oil and gas company’s stock valued at $6,159,000 after buying an additional 119,396 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of CVR Energy by 14.5% in the third quarter. Renaissance Technologies LLC now owns 860,351 shares of the oil and gas company’s stock valued at $34,603,000 after buying an additional 108,951 shares in the last quarter. Institutional investors and hedge funds own 91.37% of the company’s stock.

About CVR Energy

CVR Energy, Inc, through its subsidiaries, engages in petroleum refining and nitrogen fertilizer manufacturing activities in the United States. The company operates through, Petroleum and Nitrogen Fertilizer segments. The Petroleum segment refines and markets transportation fuels, such as gasoline, diesel fuel, pet coke, natural gas liquids, slurry, sulfur, gas oil, asphalt, jet fuel, and other products.

Featured Article: Coverage Ratio

Get a free copy of the Zacks research report on CVR Energy (CVI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.

Leave a Reply