The stock of CVR Energy, Inc. (NYSE:CVI) hit a new 52-week low and has $11.46 target or 7.00% below today’s $12.32 share price. The 8 months bearish chart indicates high risk for the $1.07B company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $11.46 price target is reached, the company will be worth $74.90M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 327,010 shares traded hands. CVR Energy, Inc. (NYSE:CVI) has declined 47.75% since April 1, 2016 and is downtrending. It has underperformed by 48.96% the S&P500.
CVR Energy, Inc. (NYSE:CVI) Ratings Coverage
Out of 2 analysts covering CVR Energy (NYSE:CVI), 0 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 0 are positive. CVR Energy has been the topic of 5 analyst reports since January 26, 2016 according to StockzIntelligence Inc. The firm has “Underweight” rating given on Friday, September 16 by Piper Jaffray. Goldman Sachs upgraded CVR Energy, Inc. (NYSE:CVI) on Friday, September 9 to “Neutral” rating. The stock of CVR Energy, Inc. (NYSE:CVI) earned “Underweight” rating by Piper Jaffray on Monday, August 22. As per Monday, October 10, the company rating was upgraded by Piper Jaffray.
According to Zacks Investment Research, “Headquartered in Sugar Land, Texas, CVR ENERGY, INC. is an independent refiner and marketer of high value transportation fuels and, through a limited partnership, a producer of ammonia and urea ammonia nitrate fertilizers. CVR Energy’s petroleum business includes full-coking sour crude refinery in Coffeyville, Kan. In addition, CVR Energy’s supporting businesses include a crude oil gathering system serving central Kansas, northern Oklahoma and southwest Nebraska; storage and terminal facilities for asphalt and refined fuels in Phillipsburg, Kan.; and a rack marketing division supplying product to customers through tanker trucks and at throughput terminals.”
Insitutional Activity: The institutional sentiment increased to 1.39 in 2016 Q2. Its up 0.32, from 1.07 in 2016Q1. The ratio is positive, as 28 funds sold all CVR Energy, Inc. shares owned while 34 reduced positions. 26 funds bought stakes while 60 increased positions. They now own 85.98 million shares or 2.92% less from 88.57 million shares in 2016Q1.
Blackrock Invest Management last reported 0% of its portfolio in the stock. Zurcher Kantonalbank (Zurich Cantonalbank) reported 453 shares or 0% of all its holdings. Icahn Carl C, a New York-based fund reported 71.20 million shares. The Germany-based Allianz Asset Management Ag has invested 0% in CVR Energy, Inc. (NYSE:CVI). Moreover, Northern Trust Corporation has 0% invested in CVR Energy, Inc. (NYSE:CVI) for 185,991 shares. Tudor Corporation Et Al, a Connecticut-based fund reported 27,100 shares. Moreover, Cornercap Counsel has 0.1% invested in CVR Energy, Inc. (NYSE:CVI) for 32,550 shares. Quantitative Inv Mngmt holds 0.01% or 11,400 shares in its portfolio. Nomura Asset Ltd last reported 0% of its portfolio in the stock. Us Financial Bank De last reported 208 shares in the company. Elkhorn Lp last reported 16,000 shares in the company. The Ohio-based Strs Ohio has invested 0% in CVR Energy, Inc. (NYSE:CVI). Lucus Advsr Ltd Limited Liability Company reported 21,727 shares or 0.28% of all its holdings. Manufacturers Life Insur The owns 10,273 shares or 0% of their US portfolio. Airain Limited last reported 0.01% of its portfolio in the stock.
More notable recent CVR Energy, Inc. (NYSE:CVI) news were published by: Fool.com which released: “How Safe Is CVR Energy, Inc. Stock?” on April 06, 2016, also Fool.com with their article: “The Biggest Problem With CVR Energy, Inc. Stock” published on March 22, 2016, Bloomberg.com published: “Delek Surges on Report CVR Energy Prepares Refiner Takeover” on August 12, 2016. More interesting news about CVR Energy, Inc. (NYSE:CVI) were released by: Prnewswire.com and their article: “CVR Energy Announces 2016 Third Quarter Earnings Call” published on October 13, 2016 as well as Forbes.com‘s news article titled: “CVR Energy Becomes Oversold” with publication date: July 27, 2016.
CVI Company Profile
CVR Energy, Inc. (CVR Energy), incorporated on September 25, 2006, is a holding company. The Firm engages in the petroleum refining and nitrogen fertilizer manufacturing through its holdings in CVR Refining LP (CVR Refining or the Refining Partnership) and CVR Partners LP (CVR Partners or the Nitrogen Fertilizer Partnership). It operates under two business divisions: petroleum (the petroleum and related businesses operated by the Refining Partnership) and nitrogen fertilizer (the nitrogen fertilizer business operated by the Nitrogen Fertilizer Partnership). The Company’s Refining Partnership is an independent petroleum refiner and marketer of transportation fuels. The Company’s Nitrogen Fertilizer Partnership produces and markets nitrogen fertilizers in the form of urea and ammonium nitrate (UAN) and ammonia. The petroleum business consists of a coking medium-sour crude oil refinery in Coffeyville, Kansas and a crude oil refinery in Wynnewood, Oklahoma. The nitrogen fertilizer business consists of UAN and ammonia products.
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