Piper Jaffray Cos. upgraded shares of CVR Energy Inc. (NYSE:CVI) from an underweight rating to a neutral rating in a research note issued to investors on Monday. The brokerage currently has $14.00 price target on the stock, up from their prior price target of $10.00.
Separately, Goldman Sachs Group Inc. reissued a sell rating on shares of CVR Energy in a report on Wednesday, June 29th.
CVR Energy (NYSE:CVI) opened at 14.52 on Monday. CVR Energy has a 12 month low of $13.01 and a 12 month high of $48.37. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 50.95 and a beta of 1.79. The firm has a 50 day moving average price of $14.50 and a 200-day moving average price of $17.80.
CVR Energy (NYSE:CVI) last released its earnings results on Thursday, July 28th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.27. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.15 billion. CVR Energy had a return on equity of 5.84% and a net margin of 0.54%. The company’s revenue was down 21.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.17 EPS. On average, equities analysts forecast that CVR Energy will post $0.37 EPS for the current year.
A number of institutional investors have recently modified their holdings of CVI. Quantbot Technologies LP increased its position in shares of CVR Energy by 77.1% in the second quarter. Quantbot Technologies LP now owns 7,627 shares of the company’s stock valued at $118,000 after buying an additional 3,320 shares during the last quarter. BlackRock Advisors LLC increased its position in shares of CVR Energy by 1.3% in the second quarter. BlackRock Advisors LLC now owns 7,783 shares of the company’s stock valued at $121,000 after buying an additional 99 shares during the last quarter. Legal & General Group Plc increased its position in shares of CVR Energy by 726.9% in the second quarter. Legal & General Group Plc now owns 8,542 shares of the company’s stock valued at $131,000 after buying an additional 7,509 shares during the last quarter. Royal Bank of Canada increased its position in shares of CVR Energy by 936.1% in the second quarter. Royal Bank of Canada now owns 10,081 shares of the company’s stock valued at $156,000 after buying an additional 9,108 shares during the last quarter. Finally, Invictus RG acquired a new position in shares of CVR Energy during the first quarter valued at about $157,000.
About CVR Energy
CVR Energy, Inc (CVR Energy) is a holding company. The Company engages in the petroleum refining and nitrogen fertilizer manufacturing through its holdings in CVR Refining LP (CVR Refining or the Refining Partnership) and CVR Partners LP (CVR Partners or the Nitrogen Fertilizer Partnership). It operates under two business segments: petroleum (the petroleum and related businesses operated by the Refining Partnership) and nitrogen fertilizer (the nitrogen fertilizer business operated by the Nitrogen Fertilizer Partnership).
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