CVR Energy (NYSE:CVI) Reaches New 1-Year High - Should You Buy?

Key Points

• CVR Energy reached a new 52-week high of $33.24, with a last trading price of $33.08, indicating strong trading activity with a volume of nearly 3.5 million shares.
• Despite the stock's recent performance, analysts maintain a consensus rating of "Strong Sell" with an average target price of $22.25 following mixed ratings from various brokerages.
• The company's quarterly earnings revealed a net loss of ($0.23) per share, missing analyst estimates and showing a 10.5% decline in year-over-year revenue.

CVR Energy Inc. (NYSE:CVI - Get Free Report) shares hit a new 52-week high on Wednesday . The stock traded as high as $33.24 and last traded at $33.08, with a volume of 3498955 shares traded. The stock had previously closed at $30.83.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Mizuho reaffirmed an "underperform" rating and set a $29.00 price target (up from $27.00) on shares of CVR Energy in a research report on Monday. Scotiabank increased their price target on CVR Energy from $21.00 to $25.00 and gave the stock a "sector underperform" rating in a research report on Friday, July 11th. Finally, Raymond James Financial cut CVR Energy from a "market perform" rating to an "underperform" rating in a research report on Tuesday, July 15th. Five analysts have rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of "Strong Sell" and a consensus target price of $23.25.

CVR Energy Price Performance

The company has a debt-to-equity ratio of 2.78, a quick ratio of 0.75 and a current ratio of 1.17. The stock's 50 day simple moving average is $28.86 and its two-hundred day simple moving average is $24.15. The firm has a market capitalization of $3.12 billion, a PE ratio of -9.31 and a beta of 1.32.

CVR Energy (NYSE:CVI - Get Free Report) last released its earnings results on Wednesday, July 30th. The oil and gas company reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.15). CVR Energy had a negative return on equity of 18.11% and a negative net margin of 4.63%.The business had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.73 billion. During the same period last year, the business earned $0.09 earnings per share. The company's revenue for the quarter was down 10.5% compared to the same quarter last year. On average, sell-side analysts forecast that CVR Energy Inc. will post -0.12 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CVI. Amanah Holdings Trust acquired a new stake in shares of CVR Energy during the 2nd quarter worth approximately $17,996,000. Two Sigma Investments LP increased its holdings in shares of CVR Energy by 56.2% during the 4th quarter. Two Sigma Investments LP now owns 750,195 shares of the oil and gas company's stock worth $14,059,000 after buying an additional 269,763 shares during the last quarter. Millennium Management LLC increased its holdings in shares of CVR Energy by 1,203.0% during the 4th quarter. Millennium Management LLC now owns 286,100 shares of the oil and gas company's stock worth $5,362,000 after buying an additional 264,143 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of CVR Energy by 38.6% during the 4th quarter. Ameriprise Financial Inc. now owns 732,452 shares of the oil and gas company's stock worth $13,726,000 after buying an additional 204,101 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in shares of CVR Energy by 26.6% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 587,300 shares of the oil and gas company's stock worth $11,394,000 after buying an additional 123,510 shares during the last quarter. 98.88% of the stock is owned by hedge funds and other institutional investors.

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.