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

Shares of CVR Energy Inc. (NYSE:CVI - Get Free Report) hit 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Scotiabank lifted their target price on CVR Energy from $21.00 to $25.00 and gave the company a "sector underperform" rating in a research note on Friday. The Goldman Sachs Group reduced their price objective on CVR Energy from $19.00 to $16.00 and set a "sell" rating for the company in a research report on Thursday, March 27th. Mizuho boosted their price objective on CVR Energy from $21.00 to $25.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Finally, Wall Street Zen downgraded CVR Energy from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. Six investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to MarketBeat.com, CVR Energy has a consensus rating of "Reduce" and a consensus target price of $23.80.

CVR Energy Price Performance

The company has a market cap of $3.24 billion, a P/E ratio of -16.33 and a beta of 1.16. The company has a fifty day simple moving average of $25.42 and a 200-day simple moving average of $21.25. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.32 and a quick ratio of 0.85.

CVR Energy (NYSE:CVI - Get Free Report) last announced its earnings results on Monday, April 28th. The oil and gas company reported ($0.58) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.32. CVR Energy had a negative net margin of 2.68% and a negative return on equity of 12.66%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the business earned $0.04 EPS. The company's revenue was down 11.6% on a year-over-year basis. On average, sell-side analysts predict 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 purchased 98,875 shares of the firm's stock in a transaction on Wednesday, April 23rd. The stock was bought at an average cost of $17.84 per share, for a total transaction of $1,763,930.00. Following the completion of the acquisition, the insider directly owned 70,339,251 shares of the company's stock, valued at approximately $1,254,852,237.84. The trade was a 0.14% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have acquired 326,066 shares of company stock worth $5,862,228. Insiders own 0.01% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of CVR Energy by 0.6% during the first quarter. Vanguard Group Inc. now owns 4,159,992 shares of the oil and gas company's stock valued at $80,704,000 after buying an additional 24,677 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in CVR Energy by 12.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,181,295 shares of the oil and gas company's stock worth $40,876,000 after purchasing an additional 238,081 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in CVR Energy by 14.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 894,193 shares of the oil and gas company's stock worth $17,347,000 after purchasing an additional 111,114 shares during the period. American Century Companies Inc. lifted its stake in CVR Energy by 12.8% during the first quarter. American Century Companies Inc. now owns 782,012 shares of the oil and gas company's stock worth $15,171,000 after purchasing an additional 88,778 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its stake in CVR Energy by 36.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 776,313 shares of the oil and gas company's stock worth $14,548,000 after purchasing an additional 207,872 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.