The Goldman Sachs Group Issues Pessimistic Forecast for CVR Energy (NYSE:CVI) Stock Price

CVR Energy (NYSE:CVI) had its price objective cut by The Goldman Sachs Group from $19.00 to $16.00 in a report published on Thursday morning,Benzinga reports. They currently have a sell rating on the oil and gas company’s stock.

Several other research firms have also recently issued reports on CVI. StockNews.com raised CVR Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, February 19th. Mizuho boosted their price target on shares of CVR Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Five research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, CVR Energy currently has an average rating of “Reduce” and an average price target of $22.00.

CVR Energy Stock Performance

Shares of CVI stock opened at $19.82 on Thursday. The company’s 50-day simple moving average is $19.53 and its 200-day simple moving average is $20.17. CVR Energy has a one year low of $15.60 and a one year high of $38.07. 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 debt-to-equity ratio of 2.15, a quick ratio of 0.86 and a current ratio of 1.66.

CVR Energy (NYSE:CVI) last announced its quarterly earnings results on Tuesday, February 18th. The oil and gas company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.12). CVR Energy had a negative return on equity of 5.12% and a net margin of 0.09%. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.85 billion. Equities analysts anticipate that CVR Energy will post -0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Carl C. Icahn purchased 3,610 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was bought at an average cost of $18.24 per share, for a total transaction of $65,846.40. Following the completion of the acquisition, the insider now directly owns 67,574,203 shares of the company’s stock, valued at approximately $1,232,553,462.72. The trade was a 0.01 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders acquired 1,492,540 shares of company stock worth $27,049,928. Corporate insiders own 0.01% of the company’s stock.

Hedge Funds Weigh In On CVR Energy

Several large investors have recently bought and sold shares of the stock. State Street Corp increased its stake in CVR Energy by 18.1% in the third quarter. State Street Corp now owns 2,075,058 shares of the oil and gas company’s stock valued at $47,789,000 after acquiring an additional 317,475 shares during the period. Two Sigma Investments LP lifted its holdings in CVR Energy by 56.2% during the 4th quarter. Two Sigma Investments LP now owns 750,195 shares of the oil and gas company’s stock worth $14,059,000 after buying an additional 269,763 shares in the last quarter. Millennium Management LLC boosted its stake in shares of CVR Energy by 1,203.0% in the 4th quarter. Millennium Management LLC now owns 286,100 shares of the oil and gas company’s stock valued at $5,362,000 after purchasing an additional 264,143 shares during the last quarter. ExodusPoint Capital Management LP boosted its position in shares of CVR Energy by 744.9% in the 4th quarter. ExodusPoint Capital Management LP now owns 293,129 shares of the oil and gas company’s stock worth $5,493,000 after purchasing an additional 258,436 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in CVR Energy by 12.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,181,295 shares of the oil and gas company’s stock worth $40,876,000 after acquiring an additional 238,081 shares during the last quarter. 98.88% of the stock is currently 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.