CVR Energy (NYSE:CVI) Sets New 1-Year High - Still a 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)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $33.24 and last traded at $33.08, with a volume of 3498955 shares changing hands. The stock had previously closed at $30.83.

Wall Street Analyst Weigh In

CVI has been the subject of a number of research reports. Scotiabank increased their price target on shares of CVR Energy from $21.00 to $25.00 and gave the company a "sector underperform" rating in a report on Friday, July 11th. Raymond James Financial downgraded shares of CVR Energy from a "market perform" rating to an "underperform" rating in a report on Tuesday, July 15th. One analyst has rated the stock with a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Strong Sell" and a consensus target price of $22.25.

CVR Energy Stock Down 2.0%

The business's fifty day moving average price is $28.86 and its 200 day moving average price is $24.12. The company has a market capitalization of $3.14 billion, a P/E ratio of -9.39 and a beta of 1.32. The company has a current ratio of 1.17, a quick ratio of 0.75 and a debt-to-equity ratio of 2.78.

CVR Energy (NYSE:CVI - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The oil and gas company reported ($0.23) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.15). The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.73 billion. CVR Energy had a negative return on equity of 18.11% and a negative net margin of 4.63%.CVR Energy's revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.09 earnings per share. As a group, equities research analysts predict that CVR Energy Inc. will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CVR Energy

Several institutional investors have recently modified their holdings 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 grew its position 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 period. Millennium Management LLC grew its position 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 period. Ameriprise Financial Inc. grew its position 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 period. Finally, Hotchkis & Wiley Capital Management LLC grew its position 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 period. Institutional investors and hedge funds own 98.88% of the company's stock.

About CVR Energy

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.