CVR Energy (NYSE:CVI) Price Target Lowered to $21.00 at Scotiabank

CVR Energy (NYSE:CVI) had its price objective cut by Scotiabank from $25.00 to $21.00 in a report published on Thursday, Benzinga reports. They currently have a sector underperform rating on the oil and gas company’s stock.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. lowered their price target on CVR Energy from $26.00 to $23.00 and set an underweight rating for the company in a report on Wednesday, October 2nd. UBS Group lowered their target price on CVR Energy from $33.75 to $30.00 and set a neutral rating for the company in a report on Tuesday, August 13th. Tudor Pickering raised CVR Energy to a strong sell rating in a report on Monday, September 9th. Mizuho lowered their target price on CVR Energy from $27.00 to $25.00 and set a neutral rating for the company in a report on Monday, September 16th. Finally, Tudor, Pickering, Holt & Co. cut CVR Energy from a hold rating to a sell rating in a research note on Monday, September 9th. Four investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of Reduce and an average target price of $24.75.

CVR Energy Stock Performance

NYSE:CVI opened at $24.79 on Thursday. The stock has a fifty day moving average price of $24.17 and a 200-day moving average price of $27.43. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 4.56 and a beta of 1.48. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.93 and a current ratio of 1.46. CVR Energy has a fifty-two week low of $21.05 and a fifty-two week high of $38.07.

CVR Energy (NYSE:CVI) last posted its quarterly earnings results on Monday, July 29th. The oil and gas company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.39. CVR Energy had a return on equity of 25.00% and a net margin of 6.39%. The company had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the firm earned $1.64 EPS. CVR Energy’s revenue was down 12.0% on a year-over-year basis. As a group, equities analysts anticipate that CVR Energy will post 0.35 EPS for the current fiscal year.

CVR Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.00 annualized dividend and a dividend yield of 8.07%. CVR Energy’s payout ratio is 36.76%.

Institutional Investors Weigh In On CVR Energy

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of 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 boosted its holdings in CVR Energy by 2.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,072,334 shares of the oil and gas company’s stock worth $55,476,000 after acquiring an additional 44,636 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in CVR Energy by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 975,323 shares of the oil and gas company’s stock worth $26,109,000 after acquiring an additional 3,134 shares in the last quarter. SIR Capital Management L.P. bought a new position in CVR Energy in the second quarter worth approximately $17,907,000. Finally, American Century Companies Inc. boosted its holdings in CVR Energy by 60.3% in the second quarter. American Century Companies Inc. now owns 407,819 shares of the oil and gas company’s stock worth $10,917,000 after acquiring an additional 153,396 shares in the last quarter. 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.