The Goldman Sachs Group Cuts CVR Energy (NYSE:CVI) Price Target to $21.00

CVR Energy (NYSE:CVI - Get Free Report) had its target price decreased by research analysts at The Goldman Sachs Group from $24.00 to $21.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "sell" rating on the oil and gas company's stock. The Goldman Sachs Group's price target suggests a potential upside of 11.82% from the stock's previous close.

Several other equities analysts also recently weighed in on the company. Tudor, Pickering, Holt & Co. downgraded CVR Energy from a "hold" rating to a "sell" rating in a research report on Monday, September 9th. Scotiabank cut 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. Tudor Pickering raised shares of CVR Energy to a "strong sell" rating in a research report on Monday, September 9th. JPMorgan Chase & Co. cut their price objective on CVR Energy from $26.00 to $23.00 and set an "underweight" rating on the stock in a research report on Wednesday, October 2nd. Finally, StockNews.com lowered CVR Energy from a "hold" rating to a "sell" rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat, CVR Energy presently has a consensus rating of "Reduce" and an average target price of $24.00.

CVR Energy Trading Up 2.5 %

Shares of CVR Energy stock traded up $0.46 during mid-day trading on Friday, hitting $18.78. The stock had a trading volume of 1,427,774 shares, compared to its average volume of 1,252,390. The firm has a 50-day moving average of $20.76 and a two-hundred day moving average of $23.96. The firm has a market cap of $1.89 billion, a P/E ratio of 27.20 and a beta of 1.57. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 1.84. CVR Energy has a 12-month low of $15.60 and a 12-month high of $38.07.

CVR Energy (NYSE:CVI - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The oil and gas company reported ($0.50) earnings per share 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 business had revenue of $1.83 billion for the quarter, compared to analysts' expectations of $1.91 billion. During the same quarter in the prior year, the company posted $1.89 earnings per share. The business's revenue for the quarter was down 27.3% compared to the same quarter last year. Sell-side analysts forecast that CVR Energy will post -0.12 earnings per share for the current year.

Hedge Funds Weigh In On CVR Energy

A number of institutional investors have recently modified their holdings of the business. State Street Corp increased its position in CVR Energy by 18.1% in the 3rd quarter. State Street Corp now owns 2,075,058 shares of the oil and gas company's stock valued at $47,789,000 after acquiring an additional 317,475 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of CVR Energy by 2.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,072,334 shares of the oil and gas company's stock valued at $55,476,000 after purchasing an additional 44,636 shares during the period. Bank of New York Mellon Corp raised its stake in shares of CVR Energy by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 975,323 shares of the oil and gas company's stock worth $26,109,000 after purchasing an additional 3,134 shares during the last quarter. SIR Capital Management L.P. acquired a new stake in shares of CVR Energy during the second quarter worth $17,907,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of CVR Energy by 14.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 639,138 shares of the oil and gas company's stock worth $14,719,000 after purchasing an additional 81,590 shares during the period. 98.88% of the stock is owned by institutional investors and hedge funds.

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.