CVR Energy (CVI) Stock Rating Lowered by Goldman Sachs Group

Goldman Sachs Group lowered shares of CVR Energy (NYSE:CVI) from a buy rating to a neutral rating in a report released on Tuesday, MarketBeat Ratings reports. They currently have $45.00 price target on the oil and gas company’s stock, down from their previous price target of $47.00.

A number of other research firms have also commented on CVI. ValuEngine upgraded shares of CVR Energy from a hold rating to a buy rating in a report on Saturday, July 28th. Citigroup initiated coverage on shares of CVR Energy in a report on Wednesday, October 31st. They set a buy rating and a $48.00 price target for the company.

NYSE:CVI traded up $1.09 during mid-day trading on Tuesday, hitting $40.85. 68,927 shares of the stock traded hands, compared to its average volume of 799,893. The stock has a market cap of $4.23 billion, a P/E ratio of 19.68 and a beta of 1.34. CVR Energy has a 12-month low of $28.14 and a 12-month high of $47.67. The company has a current ratio of 2.30, a quick ratio of 1.59 and a debt-to-equity ratio of 0.63.

CVR Energy (NYSE:CVI) last issued its quarterly earnings data on Wednesday, October 24th. The oil and gas company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.84 by $0.11. The company had revenue of $1.94 billion during the quarter. CVR Energy had a net margin of 5.84% and a return on equity of 11.10%.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 12th. Shareholders of record on Monday, November 5th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, November 2nd. This represents a $3.00 annualized dividend and a yield of 7.34%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Bessemer Group Inc. bought a new position in CVR Energy in the 3rd quarter worth $102,000. Point72 Hong Kong Ltd bought a new position in CVR Energy in the 2nd quarter worth $109,000. Bridgeworth LLC bought a new position in CVR Energy in the 2nd quarter worth $166,000. Meeder Asset Management Inc. raised its holdings in CVR Energy by 140.8% in the 2nd quarter. Meeder Asset Management Inc. now owns 5,431 shares of the oil and gas company’s stock worth $201,000 after purchasing an additional 3,176 shares in the last quarter. Finally, Paloma Partners Management Co bought a new position in CVR Energy in the 2nd quarter worth $245,000. Institutional investors and hedge funds own 87.38% of the company’s stock.

CVR Energy Company Profile

CVR Energy, Inc, through its subsidiaries, engages in petroleum refining and nitrogen fertilizer manufacturing activities in the United States. The company operates through, Petroleum and Nitrogen Fertilizer segments. The Petroleum segment refines and markets transportation fuels, such as gasoline, diesel fuel, pet coke, natural gas liquids, slurry, sulfur, gas oil, asphalt, jet fuel, and other products.

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