Mizuho Forecasts Strong Price Appreciation for CVR Energy (NYSE:CVI) Stock

CVR Energy (NYSE:CVI) had its target price lifted by equities researchers at Mizuho from $18.00 to $20.00 in a report released on Monday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas company’s stock. Mizuho’s price objective would suggest a potential upside of 9.71% from the company’s current price.

CVI has been the subject of several other reports. JPMorgan Chase & Co. cut 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 report on Wednesday, October 2nd. Tudor, Pickering, Holt & Co. cut CVR Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Tudor Pickering raised CVR Energy to a “strong sell” rating in a research note on Monday, September 9th. The Goldman Sachs Group dropped their price objective on CVR Energy from $24.00 to $21.00 and set a “sell” rating for the company in a research note on Friday, December 6th. Finally, Scotiabank decreased their target price on shares of CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating on the stock in a research note on Thursday, October 10th. Six equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $23.00.

CVR Energy Price Performance

Shares of CVI traded down $0.68 during midday trading on Monday, reaching $18.23. The stock had a trading volume of 598,485 shares, compared to its average volume of 1,141,975. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 1.84. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 26.41 and a beta of 1.57. The company’s 50-day moving average is $20.30 and its 200 day moving average is $23.52. CVR Energy has a 12-month low of $15.60 and a 12-month high of $38.07.

CVR Energy (NYSE:CVI) last issued its quarterly earnings results 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). The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.91 billion. CVR Energy had a net margin of 0.89% and a return on equity of 2.88%. The firm’s revenue was down 27.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.89 earnings per share. On average, equities analysts predict that CVR Energy will post -0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. SummerHaven Investment Management LLC lifted its position in shares of CVR Energy by 2.2% in the 2nd quarter. SummerHaven Investment Management LLC now owns 24,511 shares of the oil and gas company’s stock worth $656,000 after purchasing an additional 530 shares during the period. Amalgamated Bank raised its stake in CVR Energy by 9.6% in the third quarter. Amalgamated Bank now owns 9,716 shares of the oil and gas company’s stock worth $224,000 after buying an additional 849 shares in the last quarter. Quest Partners LLC lifted its holdings in 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 buying an additional 1,119 shares during the period. Headlands Technologies LLC boosted its position in CVR Energy by 820.5% during the 2nd quarter. Headlands Technologies LLC now owns 1,482 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 1,321 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its position in CVR Energy by 27.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 7,799 shares of the oil and gas company’s stock valued at $209,000 after acquiring an additional 1,692 shares in the last quarter. 98.88% of the stock is owned by hedge funds and other institutional investors.

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.