CVR Energy (NYSE:CVI) Share Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• CVR Energy shares moved above their 200-day moving average, reaching as high as $33.40 and last trading around $32.57, signaling improved technical momentum.
• Despite the recent price strength, Wall Street sentiment remains weak: analysts have an average rating of Strong Sell with a consensus price target of $30.25.
• The company reported a wider-than-expected quarterly loss of $1.24 per share, even though revenue of $1.98 billion beat estimates and rose 20.3% year over year.

CVR Energy Inc. (NYSE:CVI - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $28.67 and traded as high as $33.40. CVR Energy shares last traded at $32.5680, with a volume of 983,637 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CVI shares. Wall Street Zen upgraded shares of CVR Energy from a "sell" rating to a "hold" rating in a research report on Saturday, May 2nd. Scotiabank lifted their target price on shares of CVR Energy from $25.00 to $28.00 and gave the company a "sector underperform" rating in a research report on Wednesday, April 22nd. Raymond James Financial raised shares of CVR Energy from an "underperform" rating to a "market perform" rating in a research note on Wednesday, March 25th. The Goldman Sachs Group began coverage on shares of CVR Energy in a research report on Friday, April 10th. They set a "sell" rating and a $30.00 price target for the company. Finally, Tudor Pickering lowered shares of CVR Energy from a "hold" rating to a "sell" rating in a research note on Thursday, June 4th. Two investment analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, CVR Energy presently has an average rating of "Strong Sell" and an average price target of $30.25.

CVR Energy Trading Down 3.0%

The company's 50 day moving average price is $31.26 and its two-hundred day moving average price is $28.67. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.44 and a quick ratio of 0.89. The stock has a market capitalization of $3.27 billion, a PE ratio of -75.74 and a beta of 0.83.

CVR Energy (NYSE:CVI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported ($1.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.54) by ($0.70). The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.73 billion. CVR Energy had a negative return on equity of 22.36% and a negative net margin of 0.56%.The business's revenue was up 20.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.58) earnings per share. As a group, analysts expect that CVR Energy Inc. will post -0.21 earnings per share for the current year.

CVR Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 18th. Stockholders of record on Monday, May 11th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Monday, May 11th. CVR Energy's payout ratio is currently -93.02%.

Institutional Investors Weigh In On CVR Energy

A number of large investors have recently made changes to their positions in CVI. Tudor Investment Corp ET AL purchased a new stake in shares of CVR Energy in the 3rd quarter valued at approximately $22,217,000. UBS Group AG raised its position in shares of CVR Energy by 32.2% during the 4th quarter. UBS Group AG now owns 850,042 shares of the oil and gas company's stock valued at $21,625,000 after buying an additional 206,861 shares during the period. GSA Capital Partners LLP raised its position in shares of CVR Energy by 136.0% during the 4th quarter. GSA Capital Partners LLP now owns 51,991 shares of the oil and gas company's stock valued at $1,323,000 after buying an additional 29,963 shares during the period. Vanguard Group Inc. lifted its holdings in CVR Energy by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 3,705,809 shares of the oil and gas company's stock valued at $94,276,000 after acquiring an additional 106,906 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. acquired a new position in CVR Energy in the fourth quarter valued at approximately $1,068,000. 98.88% of the stock is currently owned by hedge funds and other institutional investors.

CVR Energy Company Profile

CVR Energy, Inc is an independent downstream energy company engaged primarily in petroleum refining and nitrogen fertilizer production in the United States. Headquartered in Sugar Land, Texas, CVR Energy operates through two reportable segments—Petroleum Products and Nitrogen Fertilizers—leveraging its refining expertise and distribution network to serve both wholesale and retail markets across key regions in the U.S.

In its Petroleum Products segment, the company owns and operates the Coffeyville, Kansas refinery, which has the capability to process various grades of crude oil into gasoline, diesel, jet fuel and other refined products.

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