FY2024 Earnings Estimate for CVR Energy Issued By Scotiabank

CVR Energy, Inc. (NYSE:CVI - Free Report) - Equities research analysts at Scotiabank lowered their FY2024 earnings estimates for shares of CVR Energy in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst P. Cheng now forecasts that the oil and gas company will earn ($0.55) per share for the year, down from their previous forecast of $1.05. Scotiabank currently has a "Sector Underperform" rating and a $21.00 price target on the stock. The consensus estimate for CVR Energy's current full-year earnings is ($0.12) per share. Scotiabank also issued estimates for CVR Energy's FY2025 earnings at ($0.10) EPS and FY2026 earnings at $0.40 EPS.

Other equities research analysts have also issued research reports about the stock. 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. Mizuho upped their price objective on shares of CVR Energy from $18.00 to $20.00 and gave the company a "neutral" rating in a research note on Monday, December 16th. StockNews.com lowered shares of CVR Energy from a "hold" rating to a "sell" rating in a research note on Saturday, December 14th. Finally, The Goldman Sachs Group lowered their target price on CVR Energy from $24.00 to $21.00 and set a "sell" rating on the stock in a report on Friday, December 6th. Six equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of $23.00.

CVR Energy Stock Up 2.0 %

Shares of CVI opened at $18.97 on Monday. The stock has a 50 day moving average price of $18.57 and a 200 day moving average price of $22.31. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.86 and a current ratio of 1.33. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 27.49 and a beta of 1.58. CVR Energy has a one year low of $15.60 and a one year high of $38.07.

CVR Energy (NYSE:CVI - Get Free Report) last announced its 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 firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.91 billion. CVR Energy had a net margin of 0.89% and a return on equity of 2.88%. CVR Energy's revenue was down 27.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.89 EPS.

Insider Buying and Selling at CVR Energy

In other CVR Energy news, major shareholder Carl C. Icahn bought 878,212 shares of CVR Energy stock in a transaction on Wednesday, January 8th. The shares were bought at an average price of $18.25 per share, for a total transaction of $16,027,369.00. Following the completion of the transaction, the insider now directly owns 67,570,593 shares of the company's stock, valued at $1,233,163,322.25. This trade represents a 1.32 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.01% of the stock is currently owned by company insiders.

Institutional Trading of CVR Energy

Several institutional investors and hedge funds have recently bought and sold shares of CVI. Amalgamated Bank boosted its position in shares of CVR Energy by 9.6% during 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 during the period. Quest Partners LLC boosted its holdings in 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 valued at $93,000 after acquiring an additional 1,119 shares during the period. Headlands Technologies LLC grew its position in CVR Energy by 820.5% in 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. Mercer Global Advisors Inc. ADV increased its stake in CVR Energy by 27.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 7,799 shares of the oil and gas company's stock worth $209,000 after purchasing an additional 1,692 shares during the period. Finally, Louisiana State Employees Retirement System lifted its position in shares of CVR Energy by 12.2% during the third quarter. Louisiana State Employees Retirement System now owns 16,500 shares of the oil and gas company's stock worth $380,000 after purchasing an additional 1,800 shares in the last quarter. 98.88% of the stock is currently owned by hedge funds and other institutional investors.

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.