Scotiabank Trims CVR Energy (NYSE:CVI) Target Price to $21.00

CVR Energy (NYSE:CVI) had its target price decreased by Scotiabank from $25.00 to $21.00 in a research note published on Thursday morning, Benzinga reports. Scotiabank currently has a sector underperform rating on the oil and gas company’s stock.

A number of other equities analysts have also commented on CVI. JPMorgan Chase & Co. dropped their price target on shares of CVR Energy from $26.00 to $23.00 and set an underweight rating on the stock in a research report on Wednesday, October 2nd. StockNews.com lowered shares of CVR Energy from a buy rating to a hold rating in a research report on Sunday, June 16th. Tudor Pickering raised shares of CVR Energy to a strong sell rating in a research report on Monday, September 9th. UBS Group dropped their target price on shares of CVR Energy from $33.75 to $30.00 and set a neutral rating on the stock in a research report on Tuesday, August 13th. Finally, Tudor, Pickering, Holt & Co. lowered shares of CVR Energy from a hold rating to a sell rating in a research report on Monday, September 9th. Four equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat, the stock currently has an average rating of Reduce and a consensus target price of $24.75.

CVR Energy Price Performance

Shares of CVI opened at $24.79 on Thursday. The firm has a market cap of $2.49 billion, a PE ratio of 4.56 and a beta of 1.48. The firm’s 50 day moving average price is $24.17 and its 200 day moving average price is $27.49. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.93 and a current ratio of 1.46. CVR Energy has a twelve month low of $21.05 and a twelve month high of $38.07.

CVR Energy (NYSE:CVI) last issued its quarterly earnings data on Monday, July 29th. The oil and gas company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.39. CVR Energy had a net margin of 6.39% and a return on equity of 25.00%. The firm had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the firm earned $1.64 earnings per share. The company’s revenue for the quarter was down 12.0% on a year-over-year basis. As a group, research analysts expect that CVR Energy will post 0.35 EPS for the current fiscal year.

CVR Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 8.07%. The ex-dividend date was Monday, August 12th. CVR Energy’s dividend payout ratio (DPR) is currently 36.76%.

Institutional Investors Weigh In On CVR Energy

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in CVR Energy by 12.1% during the fourth quarter. Vanguard Group Inc. now owns 3,934,944 shares of the oil and gas company’s stock worth $119,229,000 after buying an additional 424,348 shares in the last quarter. Kingsview Wealth Management LLC acquired a new stake in shares of CVR Energy in the 1st quarter valued at $754,000. Neo Ivy Capital Management acquired a new stake in shares of CVR Energy in the 2nd quarter valued at $2,484,000. Future Financial Wealth Managment LLC acquired a new stake in shares of CVR Energy in the 1st quarter valued at $71,000. Finally, UniSuper Management Pty Ltd acquired a new stake in shares of CVR Energy in the 1st quarter valued at $333,000. Institutional investors and hedge funds own 98.88% of the company’s stock.

CVR Energy Company Profile

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.