Mizuho Issues Positive Forecast for CVR Energy (NYSE:CVI) Stock Price

CVR Energy (NYSE:CVI) had its price target upped by analysts at Mizuho from $18.00 to $20.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the oil and gas company’s stock. Mizuho’s price objective indicates a potential upside of 9.71% from the company’s previous close.

A number of other brokerages have also recently commented on CVI. Scotiabank cut their price target on shares of CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating on the stock in a research report on Thursday, October 10th. Tudor Pickering upgraded shares of CVR Energy to a “strong sell” rating in a research note on Monday, September 9th. Tudor, Pickering, Holt & Co. downgraded shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. decreased their price target on shares of CVR Energy from $26.00 to $23.00 and set an “underweight” rating for the company in a research note on Wednesday, October 2nd. Finally, StockNews.com cut CVR Energy from a “hold” rating to a “sell” rating in a research note on Saturday. Six analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $23.00.

CVR Energy Price Performance

CVI stock traded down $0.68 during midday trading on Monday, reaching $18.23. 598,485 shares of the stock were exchanged, compared to its average volume of 1,141,975. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.33 and a quick ratio of 0.86. The stock has a market capitalization of $1.83 billion, a PE ratio of 26.41 and a beta of 1.57. CVR Energy has a 52 week low of $15.60 and a 52 week high of $38.07. The company has a fifty day moving average price of $20.30 and a 200 day moving average price of $23.52.

CVR Energy (NYSE:CVI) last posted its earnings results on Monday, October 28th. The oil and gas company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.41). CVR Energy had a return on equity of 2.88% and a net margin of 0.89%. The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the previous year, the firm earned $1.89 earnings per share. The company’s revenue was down 27.3% compared to the same quarter last year. As a group, analysts expect that CVR Energy will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On CVR Energy

Several institutional investors have recently made changes to their positions in CVI. SummerHaven Investment Management LLC grew its stake in CVR Energy by 2.2% during the second quarter. SummerHaven Investment Management LLC now owns 24,511 shares of the oil and gas company’s stock valued at $656,000 after acquiring an additional 530 shares in the last quarter. Amalgamated Bank grew its position in shares of CVR Energy by 9.6% during the 3rd quarter. Amalgamated Bank now owns 9,716 shares of the oil and gas company’s stock valued at $224,000 after purchasing an additional 849 shares in the last quarter. Quest Partners LLC increased its holdings in shares of CVR Energy by 47.3% in the second quarter. Quest Partners LLC now owns 3,485 shares of the oil and gas company’s stock worth $93,000 after purchasing an additional 1,119 shares during the period. Headlands Technologies LLC raised its position in shares of CVR Energy by 820.5% in the second quarter. Headlands Technologies LLC now owns 1,482 shares of the oil and gas company’s stock worth $40,000 after buying an additional 1,321 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in CVR Energy by 27.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 7,799 shares of the oil and gas company’s stock valued at $209,000 after buying an additional 1,692 shares during the period. Hedge funds and other 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.