CVR Energy (NYSE:CVI) Price Target Cut to $16.00 by Analysts at The Goldman Sachs Group

CVR Energy (NYSE:CVI) had its price objective decreased by analysts at The Goldman Sachs Group from $19.00 to $16.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “sell” rating on the oil and gas company’s stock. The Goldman Sachs Group’s price target points to a potential downside of 19.27% from the company’s current price.

Several other research analysts have also commented on the stock. StockNews.com raised shares of CVR Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, February 19th. Mizuho raised their price target on shares of CVR Energy from $18.00 to $20.00 and gave the company 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 given a hold rating to the company’s stock. According to MarketBeat.com, CVR Energy currently has an average rating of “Reduce” and a consensus target price of $22.00.

CVR Energy Stock Down 1.6 %

NYSE:CVI opened at $19.82 on Thursday. CVR Energy has a 52 week low of $15.60 and a 52 week high of $38.07. The stock’s fifty day moving average is $19.53 and its two-hundred day moving average is $20.18. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 330.37 and a beta of 1.55. The company has a quick ratio of 0.86, a current ratio of 1.66 and a debt-to-equity ratio of 2.15.

CVR Energy (NYSE:CVI) last posted its quarterly earnings data 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). CVR Energy had a net margin of 0.09% and a negative return on equity of 5.12%. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Research analysts anticipate that CVR Energy will post -0.12 EPS for the current year.

Insider Activity at CVR Energy

In other CVR Energy news, major shareholder Carl C. Icahn acquired 878,212 shares of the stock in a transaction dated Wednesday, January 8th. The stock was acquired at an average cost of $18.25 per share, with a total value of $16,027,369.00. Following the transaction, the insider now owns 67,570,593 shares in the company, valued at $1,233,163,322.25. The trade was a 1.32 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought a total of 1,492,540 shares of company stock valued at $27,049,928 over the last 90 days. 0.01% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CVR Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVI. Thrivent Financial for Lutherans raised its holdings in CVR Energy by 10.9% during the third quarter. Thrivent Financial for Lutherans now owns 26,841 shares of the oil and gas company’s stock worth $618,000 after purchasing an additional 2,639 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of CVR Energy in the 3rd quarter valued at $231,000. Charles Schwab Investment Management Inc. raised its stake in CVR Energy by 14.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 639,138 shares of the oil and gas company’s stock worth $14,719,000 after acquiring an additional 81,590 shares in the last quarter. Larson Financial Group LLC raised its stake in CVR Energy by 640.9% during the 3rd quarter. Larson Financial Group LLC now owns 3,119 shares of the oil and gas company’s stock worth $72,000 after acquiring an additional 2,698 shares in the last quarter. Finally, FMR LLC lifted its position in CVR Energy by 103.4% in the third quarter. FMR LLC now owns 4,031 shares of the oil and gas company’s stock valued at $93,000 after acquiring an additional 2,049 shares during 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.