CVR Energy (NYSE:CVI) Shares Down 5.1% - Time to Sell?

CVR Energy Inc. (NYSE:CVI - Get Free Report) was down 5.1% during mid-day trading on Wednesday . The company traded as low as $29.25 and last traded at $29.23. Approximately 458,269 shares traded 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 Analysts Forecast Growth

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

CVR Energy Trading Down 1.1%

The business's 50 day moving average price is $26.16 and its two-hundred day moving average price is $21.55. The company has a current ratio of 1.32, a quick ratio of 0.85 and a debt-to-equity ratio of 2.47. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of -14.53 and a beta of 1.16.

CVR Energy (NYSE:CVI - Get Free Report) last posted its quarterly earnings results 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. CVR Energy had a negative net margin of 2.68% and a negative return on equity of 12.66%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the company posted $0.04 EPS. The firm's quarterly revenue was down 11.6% compared to the same quarter last year. On average, equities analysts predict that CVR Energy Inc. will post -0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CVR Energy news, major shareholder Carl C. Icahn bought 7,907 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The shares were acquired at an average cost of $18.21 per share, for a total transaction of $143,986.47. Following the transaction, the insider directly owned 70,418,471 shares in the company, valued at approximately $1,282,320,356.91. This represents a 0.01% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have purchased 177,884 shares of company stock worth $3,200,627. 0.01% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Matrix Trust Co acquired a new position in CVR Energy during the second quarter worth $26,000. Harbor Capital Advisors Inc. boosted its position in 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. Caitong International Asset Management Co. Ltd boosted its position in CVR Energy by 1,030.2% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,944 shares of the oil and gas company's stock worth $38,000 after purchasing an additional 1,772 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of 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 worth $38,000 after buying an additional 731 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of 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 worth $42,000 after buying an additional 1,114 shares in the last quarter. Institutional investors and hedge funds 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.