CVR Energy (NYSE:CVI) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

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 $19.72 and traded as high as $24.19. CVR Energy shares last traded at $23.82, with a volume of 614,462 shares changing hands.

Analyst Ratings Changes

CVI has been the topic of a number of recent analyst reports. Scotiabank reissued an "underperform" rating on shares of CVR Energy in a report on Monday, May 5th. Wall Street Zen downgraded CVR Energy from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. Mizuho increased their target price on CVR Energy from $21.00 to $25.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Finally, The Goldman Sachs Group lowered their target price 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. Six investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Based on data from MarketBeat.com, CVR Energy currently has an average rating of "Reduce" and a consensus price target of $23.00.

CVR Energy Stock Up 3.9%

The company has a 50-day simple moving average of $20.66 and a 200-day simple moving average of $19.76. The firm has a market cap of $2.49 billion, a PE ratio of 412.67 and a beta of 1.13. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.66 and a quick ratio of 0.86.

CVR Energy (NYSE:CVI - Get Free Report) last released its earnings results on Monday, April 28th. The oil and gas company reported ($0.58) earnings per share for the quarter, topping analysts' consensus estimates of ($0.90) by $0.32. CVR Energy had a negative return on equity of 5.12% and a net margin of 0.09%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the firm posted $0.04 earnings per share. The business's revenue was down 11.6% compared to the same quarter last year. Analysts expect that CVR Energy, Inc. will post -0.12 earnings per share for the current fiscal year.

Insider Activity at CVR Energy

In other news, major shareholder Carl C. Icahn purchased 61,108 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was purchased at an average price of $18.12 per share, for a total transaction of $1,107,276.96. Following the completion of the acquisition, the insider now owns 68,595,378 shares of the company's stock, valued at approximately $1,242,948,249.36. This trade represents a 0.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders bought 1,166,362 shares of company stock worth $20,121,145. Company insiders own 0.01% of the company's stock.

Hedge Funds Weigh In On CVR Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in CVI. Two Sigma Investments LP grew its stake in CVR Energy by 56.2% in the fourth quarter. Two Sigma Investments LP now owns 750,195 shares of the oil and gas company's stock valued at $14,059,000 after purchasing an additional 269,763 shares during the last quarter. Millennium Management LLC boosted its holdings in CVR Energy by 1,203.0% in the fourth quarter. Millennium Management LLC now owns 286,100 shares of the oil and gas company's stock worth $5,362,000 after acquiring an additional 264,143 shares in the last quarter. ExodusPoint Capital Management LP boosted its holdings in CVR Energy by 744.9% in the fourth quarter. ExodusPoint Capital Management LP now owns 293,129 shares of the oil and gas company's stock worth $5,493,000 after acquiring an additional 258,436 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of 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 valued at $40,876,000 after acquiring an additional 238,081 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of 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 valued at $14,548,000 after acquiring an additional 207,872 shares in the last quarter. 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.