CVR Energy (NYSE:CVI) Price Target Lowered to $23.00 at JPMorgan Chase & Co.

CVR Energy (NYSE:CVI) had its price target reduced by JPMorgan Chase & Co. from $26.00 to $23.00 in a report released on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the oil and gas company’s stock.

Several other equities research analysts have also weighed in on the company. StockNews.com lowered CVR Energy from a buy rating to a hold rating in a research note on Sunday, June 16th. Mizuho lowered their price target on CVR Energy from $27.00 to $25.00 and set a neutral rating on the stock in a research report on Monday, September 16th. Scotiabank lifted their price objective on CVR Energy from $24.00 to $25.00 and gave the company a sector underperform rating in a report on Wednesday, July 31st. Tudor, Pickering, Holt & Co. downgraded shares of CVR Energy from a hold rating to a sell rating in a research note on Monday, September 9th. Finally, UBS Group dropped their target price on shares of CVR Energy from $33.75 to $30.00 and set a neutral rating for the company in a research report on Tuesday, August 13th. Four analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat, the company presently has an average rating of Reduce and an average price target of $25.75.

CVR Energy Stock Performance

Shares of NYSE CVI opened at $24.66 on Wednesday. CVR Energy has a one year low of $21.05 and a one year high of $38.07. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 1.51. The business has a fifty day simple moving average of $24.47 and a 200 day simple moving average of $27.95. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 3.78 and a beta of 1.48.

CVR Energy (NYSE:CVI) last released its quarterly earnings data 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. The company had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.80 billion. CVR Energy had a net margin of 6.39% and a return on equity of 25.00%. The firm’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same period last year, the firm earned $1.64 EPS. Sell-side analysts expect that CVR Energy will post 0.5 EPS for the current year.

CVR Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 8.11%. The ex-dividend date of this dividend was Monday, August 12th. CVR Energy’s payout ratio is presently 30.67%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in CVR Energy during the 4th quarter worth about $11,567,000. US Bancorp DE raised its stake in shares of CVR Energy by 480.7% in the fourth quarter. US Bancorp DE now owns 19,377 shares of the oil and gas company’s stock worth $587,000 after acquiring an additional 16,040 shares during the last quarter. TFO Wealth Partners LLC lifted its position in shares of CVR Energy by 246,550.0% during the fourth quarter. TFO Wealth Partners LLC now owns 4,933 shares of the oil and gas company’s stock worth $149,000 after purchasing an additional 4,931 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in shares of CVR Energy during the fourth quarter valued at approximately $33,000. Finally, Rafferty Asset Management LLC grew its stake in shares of CVR Energy by 26.0% during the fourth quarter. Rafferty Asset Management LLC now owns 139,610 shares of the oil and gas company’s stock valued at $4,230,000 after purchasing an additional 28,797 shares during the last quarter. 98.88% of the stock is owned by institutional investors.

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.