CVR Energy (NYSE:CVI) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of CVR Energy (NYSE:CVI) from a sell rating to a hold rating in a report issued on Wednesday morning.

Other analysts have also recently issued research reports about the company. The Goldman Sachs Group dropped their price objective on CVR Energy from $24.00 to $21.00 and set a “sell” rating for the company in a research report on Friday, December 6th. Mizuho lifted their price objective on CVR Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Five research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $23.00.

CVR Energy Trading Up 7.5 %

NYSE:CVI opened at $19.88 on Wednesday. The company has a market capitalization of $2.00 billion, a PE ratio of 28.81 and a beta of 1.57. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 1.84. CVR Energy has a 52-week low of $15.60 and a 52-week high of $38.07. The stock has a fifty day simple moving average of $19.16 and a 200-day simple moving average of $21.13.

CVR Energy (NYSE:CVI) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.12). The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.85 billion. CVR Energy had a return on equity of 2.88% and a net margin of 0.89%. On average, equities research analysts expect that CVR Energy will post -0.86 earnings per share for the current fiscal year.

Insider Buying and Selling at CVR Energy

In other news, major shareholder Carl C. Icahn acquired 878,212 shares of CVR Energy stock in a transaction dated Wednesday, January 8th. The shares were acquired at an average cost of $18.25 per share, with a total value of $16,027,369.00. Following the purchase, the insider now directly owns 67,570,593 shares of the company’s stock, valued at approximately $1,233,163,322.25. This trade represents a 1.32 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.01% of the stock is owned by company insiders.

Hedge Funds Weigh In On CVR Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in shares of CVR Energy in the 3rd quarter valued at about $43,000. R Squared Ltd acquired a new position in shares of CVR Energy in the 4th quarter valued at about $36,000. PNC Financial Services Group Inc. lifted its stake in shares of CVR Energy by 55.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,052 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 731 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of CVR Energy by 640.9% in the 3rd quarter. Larson Financial Group LLC now owns 3,119 shares of the oil and gas company’s stock valued at $72,000 after purchasing an additional 2,698 shares in the last quarter. Finally, FMR LLC lifted its position in CVR Energy by 103.4% during the 3rd quarter. FMR LLC now owns 4,031 shares of the oil and gas company’s stock worth $93,000 after acquiring an additional 2,049 shares in the last quarter. 98.88% of the stock is owned by institutional investors and hedge funds.

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.