CVR Energy (NYSE:CVI) Trading 4.6% Higher - Here's What Happened

Key Points

• CVR Energy's stock rose 4.6% on Tuesday, reaching a last traded price of $31.88, despite a significant decline in trading volume.
• Analysts have issued mixed ratings, with some downgrading the stock to "underperform" and others increasing price targets; the average rating is currently "Strong Sell."
• The company's recent earnings report revealed a loss of ($0.23) per share, missing estimates, while revenues of $1.76 billion were slightly above expectations but down 10.5% year-over-year.

CVR Energy Inc. (NYSE:CVI - Get Free Report) traded up 4.6% during trading on Tuesday . The company traded as high as $31.73 and last traded at $31.88. 137,553 shares traded hands during trading, a decline of 89% from the average session volume of 1,223,786 shares. The stock had previously closed at $30.47.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Raymond James Financial cut CVR Energy from a "market perform" rating to an "underperform" rating in a research report on Tuesday, July 15th. Scotiabank upped their price target on CVR Energy from $21.00 to $25.00 and gave the company a "sector underperform" rating in a research report on Friday, July 11th. Finally, Mizuho reaffirmed an "underperform" rating and set a $29.00 price target (up previously from $27.00) on shares of CVR Energy in a research report on Monday. Five equities research analysts have rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of "Strong Sell" and an average target price of $23.25.

CVR Energy Trading Up 6.2%

The firm has a 50 day simple moving average of $28.86 and a 200 day simple moving average of $24.24. 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 has a market cap of $3.25 billion, a P/E ratio of -9.78 and a beta of 1.32.

CVR Energy (NYSE:CVI - Get Free Report) last announced its earnings results on Wednesday, July 30th. The oil and gas company reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.15). The business 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%.CVR Energy's revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.09 earnings per share. On average, equities research analysts predict that CVR Energy Inc. will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On CVR Energy

A number of institutional investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. increased 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 acquiring an additional 646 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in CVR Energy by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,443 shares of the oil and gas company's stock worth $364,000 after acquiring an additional 683 shares during the last quarter. SummerHaven Investment Management LLC increased its stake in CVR Energy by 2.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 32,465 shares of the oil and gas company's stock worth $872,000 after acquiring an additional 758 shares during the last quarter. Bank of Montreal Can increased its stake in CVR Energy by 9.2% in the 2nd quarter. Bank of Montreal Can now owns 11,147 shares of the oil and gas company's stock worth $299,000 after acquiring an additional 941 shares during the last quarter. Finally, Matrix Trust Co bought a new position in shares of CVR Energy during the 2nd quarter valued at about $26,000. 98.88% of the stock is currently owned by institutional investors.

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.

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