CVR Energy (NYSE:CVI) Sets New 52-Week High - What's Next?

Shares of CVR Energy Inc. (NYSE:CVI - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $30.73 and last traded at $30.53, with a volume of 858664 shares trading hands. The stock had previously closed at $30.21.

Analyst Ratings Changes

Several brokerages have issued reports on CVI. Wall Street Zen lowered shares of CVR Energy from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. Mizuho lifted their target price on shares of CVR Energy from $21.00 to $25.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. The Goldman Sachs Group cut their price target on shares of CVR Energy from $19.00 to $16.00 and set a "sell" rating on the stock in a report on Thursday, March 27th. Finally, Scotiabank restated an "underperform" rating on shares of CVR Energy in a report on Monday, May 5th. Six analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat.com, CVR Energy has a consensus rating of "Reduce" and a consensus target price of $23.00.

CVR Energy Stock Performance

The stock has a market cap of $3.12 billion, a PE ratio of -15.73 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 1.32 and a debt-to-equity ratio of 2.47. The firm has a 50 day moving average price of $24.68 and a 200 day moving average price of $20.99.

CVR Energy (NYSE:CVI - Get Free Report) last released its earnings results on Monday, April 28th. The oil and gas company reported ($0.58) EPS for the quarter, topping analysts' consensus estimates of ($0.90) by $0.32. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.61 billion. CVR Energy had a negative return on equity of 12.66% and a negative net margin of 2.68%. The company's revenue was down 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 earnings per share. As a group, research analysts forecast that CVR Energy Inc. will post -0.12 earnings per share for the current year.

Insider Activity at CVR Energy

In other news, major shareholder Carl C. Icahn bought 192,676 shares of the firm's stock in a transaction that occurred on Friday, April 11th. The shares were purchased at an average price of $17.31 per share, with a total value of $3,335,221.56. Following the purchase, the insider owned 69,965,303 shares in the company, valued at approximately $1,211,099,394.93. The trade was a 0.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders acquired 518,742 shares of company stock valued at $9,197,450. Corporate insiders own 0.01% of the company's stock.

Institutional Investors Weigh In On CVR Energy

Several large investors have recently bought and sold shares of CVI. Amanah Holdings Trust purchased a new position in CVR Energy during the 2nd quarter worth approximately $17,996,000. Strs Ohio purchased a new position in CVR Energy during the first quarter worth $532,000. Bayforest Capital Ltd purchased a new stake in shares of CVR Energy in the first quarter valued at $1,046,000. Aristeia Capital L.L.C. purchased a new stake in shares of CVR Energy in the first quarter valued at $246,000. Finally, Goldman Sachs Group Inc. grew its position in CVR Energy by 14.8% during the first quarter. Goldman Sachs Group Inc. now owns 496,650 shares of the oil and gas company's stock valued at $9,635,000 after acquiring an additional 63,909 shares during the period. Hedge funds and other institutional investors own 98.88% 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.