CVR Energy (NYSE:CVI) Trading Down 5.1% - Should You Sell?

CVR Energy Inc. (NYSE:CVI - Get Free Report)'s share price dropped 5.1% on Wednesday . The stock traded as low as $29.25 and last traded at $29.23. Approximately 458,269 shares changed hands during trading, a decline of 63% from the average daily volume of 1,235,224 shares. The stock had previously closed at $30.79.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CVI shares. The Goldman Sachs Group cut their price target on shares of CVR Energy from $19.00 to $16.00 and set a "sell" rating on the stock in a report on Thursday, March 27th. Raymond James Financial cut shares of CVR Energy from a "market perform" rating to an "underperform" rating in a research note on Tuesday. Wall Street Zen cut shares of CVR Energy from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Scotiabank increased their price objective on shares of CVR Energy from $21.00 to $25.00 and gave the stock a "sector underperform" rating in a research note on Friday, July 11th. Finally, Mizuho raised their target price on shares of CVR Energy from $21.00 to $25.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Seven equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $23.80.

CVR Energy Price Performance

The stock has a market capitalization of $2.88 billion, a PE ratio of -14.53 and a beta of 1.16. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.32 and a quick ratio of 0.85. The stock's 50 day moving average is $26.30 and its two-hundred day moving average is $21.62.

CVR Energy (NYSE:CVI - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The oil and gas company reported ($0.58) earnings per share for the quarter, beating analysts' consensus estimates of ($0.90) by $0.32. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.61 billion. CVR Energy had a negative net margin of 2.68% and a negative return on equity of 12.66%. CVR Energy's quarterly revenue was down 11.6% on a year-over-year basis. During the same period last year, the firm posted $0.04 EPS. As a group, sell-side analysts forecast that CVR Energy Inc. will post -0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CVR Energy news, major shareholder Carl C. Icahn bought 98,875 shares of the business's stock in a transaction on Wednesday, April 23rd. The shares were bought at an average cost of $17.84 per share, with a total value of $1,763,930.00. Following the transaction, the insider directly owned 70,339,251 shares in the company, valued at approximately $1,254,852,237.84. This trade represents a 0.14% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders purchased 177,884 shares of company stock valued at $3,200,627. 0.01% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CVR Energy

Hedge funds have recently bought and sold shares of the business. Matrix Trust Co acquired a new stake in CVR Energy in the 2nd quarter valued at $26,000. Harbor Capital Advisors Inc. grew its stake in shares of CVR Energy by 65.5% during the first quarter. Harbor Capital Advisors Inc. now owns 1,633 shares of the oil and gas company's stock worth $32,000 after purchasing an additional 646 shares during the period. PNC Financial Services Group Inc. grew its stake in CVR Energy by 55.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,052 shares of the oil and gas company's stock valued at $38,000 after acquiring an additional 731 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in CVR Energy by 1,030.2% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,944 shares of the oil and gas company's stock valued at $38,000 after acquiring an additional 1,772 shares during the period. Finally, GAMMA Investing LLC grew its stake in CVR Energy by 106.6% in the first quarter. GAMMA Investing LLC now owns 2,159 shares of the oil and gas company's stock valued at $42,000 after acquiring an additional 1,114 shares during the period. 98.88% of the stock is owned by hedge funds and other 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.