CVR Energy (NYSE:CVI) Price Target Cut to $21.00 by Analysts at The Goldman Sachs Group

CVR Energy (NYSE:CVI) had its target price trimmed by The Goldman Sachs Group from $24.00 to $21.00 in a research report released on Friday,Benzinga reports. The brokerage currently has a sell rating on the oil and gas company’s stock.

Several other equities analysts also recently weighed in on the company. Scotiabank dropped their price objective on CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating for the company in a research note on Thursday, October 10th. 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. JPMorgan Chase & Co. dropped their target price on shares of CVR Energy from $26.00 to $23.00 and set an “underweight” rating for the company in a report on Wednesday, October 2nd. Tudor Pickering raised shares of CVR Energy to a “strong sell” rating in a report on Monday, September 9th. Finally, UBS Group lowered their price target 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. Five investment 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 a consensus rating of “Reduce” and a consensus price target of $24.00.

CVR Energy Price Performance

Shares of NYSE CVI opened at $18.77 on Friday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.86 and a current ratio of 1.33. CVR Energy has a one year low of $15.60 and a one year high of $38.07. The firm has a market capitalization of $1.89 billion, a P/E ratio of 27.20 and a beta of 1.57. The company’s fifty day moving average is $20.76 and its two-hundred day moving average is $23.96.

CVR Energy (NYSE:CVI) last released its quarterly earnings data on Monday, October 28th. The oil and gas company reported ($0.50) EPS 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 company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the firm posted $1.89 EPS. The firm’s quarterly revenue was down 27.3% on a year-over-year basis. Analysts forecast that CVR Energy will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On CVR Energy

A number of institutional investors have recently modified their holdings of the company. Headlands Technologies LLC lifted its position in CVR Energy by 820.5% during 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 during the period. Wilmington Savings Fund Society FSB purchased a new position in CVR Energy during the third quarter worth approximately $43,000. Future Financial Wealth Managment LLC acquired a new position in shares of CVR Energy in the 3rd quarter valued at $46,000. Larson Financial Group LLC grew its stake in shares of CVR Energy by 640.9% during the 3rd quarter. Larson Financial Group LLC now owns 3,119 shares of the oil and gas company’s stock valued at $72,000 after buying an additional 2,698 shares during the period. Finally, Quest Partners LLC increased its holdings in shares of CVR Energy by 47.3% during the 2nd quarter. Quest Partners LLC now owns 3,485 shares of the oil and gas company’s stock worth $93,000 after buying an additional 1,119 shares during the last quarter. Institutional investors and hedge funds 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.