CVR Energy (NYSE:CVI) Trading 5.8% Higher - Time to Buy?

Key Points

• CVR Energy's stock price rose 5.8% to $32.61 despite a significant decline in trading volume, dropping 79% from the average session volume.
• Analysts have mixed views on CVR Energy, with a consensus rating of "Strong Sell" and a target price of $22.25, while some ratings have recently been adjusted.
• The company reported a loss of ($0.23) EPS, missing estimates, but its revenue was $1.76 billion, slightly above consensus expectations.

CVR Energy Inc. (NYSE:CVI - Get Free Report)'s stock price traded up 5.8% on Tuesday . The stock traded as high as $32.54 and last traded at $32.61. 247,796 shares were traded during trading, a decline of 79% from the average session volume of 1,181,114 shares. The stock had previously closed at $30.83.

Analyst Ratings Changes

Several equities research analysts recently commented on CVI shares. Mizuho boosted their price target on CVR Energy from $21.00 to $25.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Raymond James Financial cut CVR Energy from a "market perform" rating to an "underperform" rating in a research note on Tuesday, July 15th. Finally, 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. One equities research analyst has rated the stock with a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, CVR Energy has a consensus rating of "Strong Sell" and a consensus target price of $22.25.

CVR Energy Stock Up 6.4%

The stock has a market cap of $3.30 billion, a P/E ratio of -9.86 and a beta of 1.32. The company has a quick ratio of 0.75, a current ratio of 1.17 and a debt-to-equity ratio of 2.78. The business has a 50-day simple moving average of $28.62 and a 200-day simple moving average of $23.82.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.15). CVR Energy had a negative return on equity of 18.11% and a negative net margin of 4.63%.The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the company earned $0.09 EPS. The firm's revenue for the quarter was down 10.5% compared to the same quarter last year. Analysts expect that CVR Energy Inc. will post -0.12 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CVI. Amanah Holdings Trust acquired a new position in shares of CVR Energy during the second quarter worth approximately $17,996,000. Two Sigma Investments LP lifted its holdings in shares of CVR Energy by 56.2% during the fourth quarter. Two Sigma Investments LP now owns 750,195 shares of the oil and gas company's stock worth $14,059,000 after buying an additional 269,763 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of CVR Energy by 1,203.0% during the fourth quarter. Millennium Management LLC now owns 286,100 shares of the oil and gas company's stock worth $5,362,000 after buying an additional 264,143 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of CVR Energy by 36.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 776,313 shares of the oil and gas company's stock worth $14,548,000 after acquiring an additional 207,872 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of CVR Energy by 38.6% in the 4th quarter. Ameriprise Financial Inc. now owns 732,452 shares of the oil and gas company's stock worth $13,726,000 after acquiring an additional 204,101 shares during the period. 98.88% of the stock is currently owned by institutional investors and hedge funds.

About CVR Energy

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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