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

Key Points

• CVR Energy shares crossed above their 200-day moving average, reaching $36.87 and closing at $36.40, well above the $30.29 average.
• Despite the stock’s technical momentum, analysts remain broadly bearish: CVR Energy has an average “Strong Sell” rating and a consensus price target of $30.50.
• The company exceeded quarterly expectations with $0.34 EPS versus $0.26 expected and revenue of $2.74 billion, while maintaining a $0.10 quarterly dividend yielding about 1.1%.

CVR Energy Inc. (NYSE:CVI - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $30.29 and traded as high as $36.87. CVR Energy shares last traded at $36.40, with a volume of 664,939 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CVI shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of CVR Energy in a research report on Wednesday, August 12th. Scotiabank lifted their price objective on CVR Energy from $25.00 to $28.00 and gave the stock a "sector underperform" rating in a research report on Wednesday, April 22nd. Mizuho boosted their target price on CVR Energy from $28.00 to $29.00 and gave the company an "underperform" rating in a research note on Tuesday, August 4th. Tudor Pickering downgraded CVR Energy from a "hold" rating to a "sell" rating in a report on Thursday, June 4th. Finally, Wall Street Zen raised CVR Energy from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Three research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Strong Sell" and a consensus target price of $30.50.

CVR Energy Price Performance

The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 2.38. The firm's 50-day moving average is $31.52 and its 200-day moving average is $30.29. The company has a market cap of $3.66 billion, a PE ratio of 53.53 and a beta of 0.83.

CVR Energy (NYSE:CVI - Get Free Report) last announced its earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.08. CVR Energy had a negative return on equity of 15.21% and a net margin of 0.81%.The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the prior year, the company earned ($0.23) EPS. The business's revenue was up 55.5% compared to the same quarter last year. On average, equities analysts anticipate that CVR Energy Inc. will post 0.79 EPS for the current year.

CVR Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 10th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.40 annualized dividend and a yield of 1.1%. CVR Energy's dividend payout ratio (DPR) is currently 58.82%.

Institutional Trading of CVR Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of CVR Energy in the 2nd quarter worth about $143,262,000. BNP Paribas Financial Markets boosted its stake in CVR Energy by 21,261.8% during the third quarter. BNP Paribas Financial Markets now owns 776,073 shares of the oil and gas company's stock worth $28,311,000 after acquiring an additional 772,440 shares in the last quarter. PDT Partners LLC bought a new stake in CVR Energy during the second quarter worth about $14,502,000. Squarepoint Ops LLC purchased a new stake in CVR Energy in the fourth quarter worth about $9,616,000. Finally, Bank of America Corp DE grew its holdings in CVR Energy by 101.2% in the third quarter. Bank of America Corp DE now owns 706,504 shares of the oil and gas company's stock worth $25,773,000 after purchasing an additional 355,412 shares during the period. 98.88% of the stock is owned by hedge funds and other institutional investors.

About CVR Energy

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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