CVR Energy (NYSE:CVI) Sets New 52-Week High - Should You Buy?

Key Points

• CVR Energy's stock price reached a new 52-week high of $35.65, closing at $35.42 with a trading volume of 2.7 million shares.
• Despite positive price movements, several analysts maintain a bearish outlook, with an average rating of "Strong Sell" and target prices ranging from $21.00 to $29.00.
• CVR Energy reported a loss of $0.23 per share in its latest earnings report, missing estimates and showing a decline in revenue compared to the previous year.

CVR Energy Inc. (NYSE:CVI - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $35.65 and last traded at $35.42, with a volume of 2745829 shares. The stock had previously closed at $34.26.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CVI shares. Mizuho restated an "underperform" rating and set a $29.00 price target (up from $27.00) on shares of CVR Energy in a research note on Monday, September 15th. Scotiabank boosted their price target on CVR Energy from $21.00 to $25.00 and gave the company a "sector underperform" rating in a research note on Friday, July 11th. Raymond James Financial lowered CVR Energy from a "market perform" rating to an "underperform" rating in a research note on Tuesday, July 15th. Finally, Zacks Research upgraded CVR Energy from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 16th. One research analyst has rated the stock with a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Strong Sell" and an average target price of $23.25.

CVR Energy Stock Up 3.4%

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 firm's 50-day moving average is $29.11 and its two-hundred day moving average is $24.79. The stock has a market cap of $3.56 billion, a P/E ratio of -10.67 and a beta of 1.32.

CVR Energy (NYSE:CVI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The oil and gas company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.15). The company had revenue of $1.76 billion during 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%.The business's revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 EPS. On average, equities research analysts anticipate that CVR Energy Inc. will post -0.12 earnings per share for the current year.

Institutional Trading of CVR Energy

A number of large investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in CVR Energy by 106.6% in the 1st quarter. GAMMA Investing LLC now owns 2,159 shares of the oil and gas company's stock worth $42,000 after purchasing an additional 1,114 shares during the period. Harbor Capital Advisors Inc. boosted its stake in CVR Energy by 65.5% in the 1st quarter. Harbor Capital Advisors Inc. now owns 1,633 shares of the oil and gas company's stock worth $32,000 after purchasing an additional 646 shares during the period. Millennium Management LLC boosted its stake in CVR Energy by 1,203.0% in the 4th quarter. Millennium Management LLC now owns 286,100 shares of the oil and gas company's stock worth $5,362,000 after purchasing an additional 264,143 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in CVR Energy by 14.2% in the 1st 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. Finally, American Century Companies Inc. boosted its stake in CVR Energy by 12.8% in the 1st 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. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.