CVR Energy Inc. (NYSE: CVI) Bullish Outlook Still Prevails With Short Term Targets At $32.50


CVR Energy Inc. (NYSE:CVI) does about 724.30K shares in volume on a normal day but saw 754600 shares change hands in Friday trading. The company now has a market cap of 3.02B USD. Its current market price is $32.02, marking a decrease of -3.73% compared to the previous close of $33.26. The 52 week high reached by this stock is $41.26 whilst the lowest price level in 52 weeks is $15.12. The script in recent trading has seen the stock touch a high of $32.72 and a low of $31.42.

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CVR Energy Inc. (CVI) has a 20-day trading average at $33.28 and the current price is -22.39% off the 52-week high compared with 111.82% distance from its 52-week low. The 50-day simple moving average of the closing price is $31.90 and its 200-day simple moving average is $33.65. If we look at the stock’s price movements over the week, volatility stands at 3.07%, which increases to 4.00% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 45.23 to suggest the stock is neutral.

6 analysts observing the CVR Energy Inc. (CVI) stock have set the 12-month price targets for the company’s shares at between $30.00 and $38.00. The consensus objective for the share price is $35.00, suggesting that the stock has a potential upside of 8.51% over the period. The median price target is 1.48% away from the current levels at $32.50.

FactSet Research has provided data showing that 6 brokerages have issued ratings for the stock. 2 analysts have rated it as a sell, while 0 advise that it is a overweight. 0 analysts have rated it as a buy and 4 have advised that investors hold their positions. The consensus recommendation rating is Underweight and Wall Street’s advice is for investors to Hold the stock.

Scotiabank upgraded the stock to “Sector Perform” from Sector Underperform on January 13, 2022 at a price target of $12-$20. Wolfe Research upgraded its price target at $25.

The current price level is -3.89%, 0.35%, and -0.49% away from its SMA20, SMA50, and SMA200 respectively, with the CVI price moving above the 50-day SMA on February 17. CVR Energy Inc. (CVI) stock is down -6.81% over the week and -2.67% over the past month. Its price is 2.17% year-to-date and 68.55% over the past year.

The company’s next earnings report is expected on 05/01/2023, with forecasts estimating quarterly EPS at $1.52 and $6.05 for whole year. CVI’s earnings per share are forecast to grow by 750.50% this year and -43.50% over next year. Expected sales for next quarter are $2.12 billion, which analysts say will come at $10.63 billion for the current fiscal year and next year at $9.05 billion. In addition, estimates put the company’s current quarterly revenue at an average of $2.41 billion.

Its 12-month price target is $32.50. To reach the target analysts have set, the stock logically needs to grow 8.51 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $30.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $38.00.

Outstanding shares total 100.53M with insiders holding 0.01% of the shares and institutional holders owning 97.11% of the company’s common stock. The company has a return on investment of 4.70% and return on equity of 53.50%. The price to earnings ratio (P/E ratio) amounts to 9.52 while the forward price to earnings ratio is 9.37. The beta has a value of 1.51. Price to book ratio is 5.75 and price to sales ratio is 0.29.

According to a U.S. Securities and Exchange Commission filing, SPDR S&P Oil & Gas Exploration & has reduced its position in CVR Energy Inc. (CVI) to 1,677,679 shares, mirroring a recent drop by -2.10%. SPDR S&P Oil & Gas Exploration & dumped 35952.0 shares of CVR Energy Inc. common stock bringing its total worth to about $55.7 million at the end of recent close, SEC documents show. Vanguard Small Cap Index Fund raise their holdings by 0.55% in the company over the course of the most recent quarter. It now holds a 0.78% position in CVR Energy Inc. thanks to 0.78 million shares amounting to $25.94 million.


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