CVR Energy Inc. (NYSE: CVI): Street Finally Waking Up


    The Vanguard Group, Inc. recently announced the acquisition of new stake in CVR Energy Inc. (NYSE:CVI). The institutional investor has increased its shareholding in the Energy company by 6.93% to 3.8 million shares with purchase of 0.25 million shares. This fresh investment now brings its stake to 3.78% valued currently at $76.44 million. In addition, Renaissance Technologies LLC raised its holdings by 0.37 million to 2.76 million shares. And Dimensional Fund Advisors LP has lifted its position by 12.48% or 0.19 million shares – to 1.72 million shares.

    With over 0.49 million CVR Energy Inc. (CVI) shares trading Wednesday and a closing price of $19.71 on the day, the dollar volume was approximately $9.69 million. The shares have shown a positive weekly performance of 6.83% and its price on 07/15/20 gained nearly 5.74%. Currently, there are 100.50M common shares owned by the public and among those 29.32M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for CVI have a consensus price objective of $20.17. The analysts have set the share’s price value over the next 12 months at a high of $28.00 and a low of $15.00 should the stock experience a downside. Incidentally, analysts’ outlook for the CVR Energy Inc. stock is 3.30 for the next 12 months. The average price target is 9.59% above its last price level and an upside to the estimated low will see the stock lose -31.4% over that period. But an upside of 29.61% will see the stock hit the forecast high price target while mean target price for the stock is $19.50.

    Insiders at the company have transacted a total of 12 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 6 of these insider trades were purchases, accounting for 32,878 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 32,878 shares.

    The top 3 mutual fund holders in CVR Energy Inc. are SPDR S&P Oil & Gas Exploration &, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund. SPDR S&P Oil & Gas Exploration & owns 1.19 million shares of the company’s stock, all valued at over $23.83 million. The company bought an additional 2920.0 shares recently to bring their total holdings to about 1.18% of the shares outstanding. Vanguard Total Stock Market Index sold 840.0 shares to see its total holdings shrink to 0.86 million shares valued at over $17.38 million and representing 0.86% of the shares outstanding. Vanguard Small Cap Index Fund sold 19851.0 shares to bring its total holdings to over 0.78 million shares at a value of $15.75 million. Vanguard Small Cap Index Fund now owns shares totaling to 0.78% of the shares outstanding.

    Shares of CVR Energy Inc. (NYSE: CVI) opened at $19.28, up $0.64 from a prior closing price of $18.64. However, the script later closed the day at $19.71, up 5.74%. The company’s stock has a 5-day price change of 6.83% and 13.93% over the past three months. CVI shares are trading -51.25% year to date (YTD), with the 12-month market performance down to -63.24% lower. It has a 12-month low price of $13.81 and touched a high of $55.52 over the same period. Currently, 0.49 million shares have been traded, compared to an average intraday trading volume of 826.49K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.12%, -4.57%, and -36.46% respectively.

    Institutional ownership of CVR Energy Inc. (NYSE: CVI) shares accounts for 95.30% of the company’s 100.50M shares outstanding. Mutual fund holders own 79.07%, while other institutional holders and individual stakeholders account for 80.36% and 14.42% respectively.

    It has a market capitalization of $1.87B and a beta (3y monthly) value of 1.92. The stock’s trailing 12-month PE ratio is 10.32, while the earnings-per-share (ttm) stands at $1.91. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.92% over the week and 6.29% over the month.

    Analysts forecast that CVR Energy Inc. (CVI) will achieve an EPS of -$0.49 for the current quarter, -$0.25 for the next quarter and $1.22 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.88 while analysts give the company a high EPS estimate of -$0.19. Comparatively, EPS for the current quarter was $1.14 a year ago. Earnings per share for the fiscal year are expected to increase by 35.00%, and 184.10% over the next financial year.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate CVR Energy Inc. (CVI) as a “Hold” at a consensus score of 3.30. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 4 of the 6 advise that investors “hold,” and 2 rated it as a “Sell.”

    Looking at the support for the CVI, a number of firms have released research notes about the stock. Scotiabank stated their Sector Perform rating for the stock in a research note on April 14, 2020, with the firm’s price target at. Credit Suisse coverage for the CVR Energy Inc. (CVI) stock in a research note released on March 30, 2020 offered a Underperform rating with a price target of $16. Goldman was of a view on March 26, 2020 that the stock is Sell, while Goldman gave the stock Neutral rating on February 03, 2020, issuing a price target of $38. Credit Suisse on their part issued Neutral rating on January 03, 2020.


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