CVR Energy (NYSE:CVI) Releases Quarterly Earnings Results, Beats Estimates By $0.32 EPS

CVR Energy (NYSE:CVI - Get Free Report) released its earnings results on Monday. The oil and gas company reported ($0.58) EPS for the quarter, topping analysts' consensus estimates of ($0.90) by $0.32, Zacks reports. The company had revenue of $1.65 billion for the quarter, compared to analysts' expectations of $1.61 billion. CVR Energy had a negative return on equity of 5.12% and a net margin of 0.09%. The business's revenue for the quarter was down 11.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.04 EPS.

CVR Energy Price Performance

Shares of CVI traded up $0.66 during midday trading on Thursday, hitting $19.52. 665,570 shares of the company traded hands, compared to its average volume of 1,241,858. CVR Energy has a one year low of $15.10 and a one year high of $30.95. The firm has a market cap of $1.96 billion, a P/E ratio of 325.34 and a beta of 1.26. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.66 and a quick ratio of 0.86. The stock has a 50-day moving average of $18.75 and a 200-day moving average of $19.25.

Analysts Set New Price Targets

A number of research analysts have weighed in on CVI shares. The Goldman Sachs Group dropped their target price on shares of CVR Energy from $19.00 to $16.00 and set a "sell" rating on the stock in a research note on Thursday, March 27th. Mizuho boosted their target price on CVR Energy from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Tuesday, April 1st. StockNews.com downgraded CVR Energy from a "hold" rating to a "sell" rating in a research note on Wednesday. Finally, Scotiabank lowered their price objective on CVR Energy from $22.00 to $16.00 and set a "sector underperform" rating on the stock in a research note on Friday, April 11th. Six investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Reduce" and an average price target of $21.20.

Insider Activity at CVR Energy

In other news, major shareholder Carl C. Icahn purchased 206,571 shares of CVR Energy stock in a transaction dated Monday, March 3rd. The stock was purchased at an average cost of $17.79 per share, for a total transaction of $3,674,898.09. Following the transaction, the insider now directly owns 67,780,774 shares of the company's stock, valued at approximately $1,205,819,969.46. This trade represents a 0.31 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders bought 1,633,853 shares of company stock valued at $28,497,570. Corporate insiders own 0.01% of the company's stock.

CVR Energy Company Profile

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.