CVR Energy (NYSE:CVI) Price Target Cut to $28.00 by Analysts at Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell

CVR Energy (NYSE:CVI) had its price target lowered by equities research analysts at Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell from $31.00 to $28.00 in a report issued on Wednesday, Stock Target Advisor reports. The firm currently has a “buy” rating on the oil and gas company’s stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell’s target price would indicate a potential upside of 19.45% from the company’s current price.

A number of other equities research analysts have also recently commented on CVI. Scotiabank lifted their price objective on CVR Energy from $17.00 to $23.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 2nd. Credit Suisse Group raised CVR Energy from an “underperform” rating to a “neutral” rating in a research note on Wednesday, February 17th. Tudor Pickering cut CVR Energy from a “hold” rating to a “sell” rating and set a $15.00 price objective for the company. in a research note on Friday, May 28th. Finally, Citigroup decreased their price objective on CVR Energy from $31.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $22.20.

NYSE CVI opened at $23.44 on Wednesday. The company has a fifty day moving average price of $21.21. The firm has a market cap of $2.36 billion, a PE ratio of -11.32 and a beta of 1.97. CVR Energy has a 52 week low of $9.81 and a 52 week high of $27.02. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.61 and a quick ratio of 1.23.

CVR Energy (NYSE:CVI) last released its earnings results on Sunday, May 2nd. The oil and gas company reported ($1.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.17) by ($0.16). CVR Energy had a negative net margin of 4.86% and a negative return on equity of 30.75%. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1 billion. As a group, equities research analysts forecast that CVR Energy will post -0.85 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of CVI. BlackRock Inc. lifted its holdings in CVR Energy by 16.2% during the first quarter. BlackRock Inc. now owns 3,749,664 shares of the oil and gas company’s stock worth $71,919,000 after acquiring an additional 521,386 shares in the last quarter. Norges Bank bought a new stake in shares of CVR Energy in the fourth quarter valued at about $7,642,000. SummerHaven Investment Management LLC bought a new stake in shares of CVR Energy in the fourth quarter valued at about $335,000. Morgan Stanley lifted its holdings in shares of CVR Energy by 825.9% in the fourth quarter. Morgan Stanley now owns 274,610 shares of the oil and gas company’s stock valued at $4,092,000 after purchasing an additional 244,952 shares in the last quarter. Finally, HITE Hedge Asset Management LLC bought a new stake in shares of CVR Energy in the fourth quarter valued at about $2,852,000. Hedge funds and other institutional investors own 91.50% of the company’s stock.

CVR Energy Company Profile

CVR Energy, Inc, through its subsidiaries, engages in petroleum refining and nitrogen fertilizer manufacturing activities in the United States. The company operates through two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment refines and markets gasoline, diesel fuel, and other refined products.

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