CVR Energy (NYSE:CVI) Shares Down 5.4% Following Weak Earnings

Shares of CVR Energy, Inc. (NYSE:CVI - Get Free Report) traded down 5.4% during mid-day trading on Tuesday after the company announced weaker than expected quarterly earnings. The company traded as low as $31.28 and last traded at $31.32. 294,940 shares were traded during trading, a decline of 66% from the average session volume of 876,181 shares. The stock had previously closed at $33.12.

The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.09). The firm had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.96 billion. CVR Energy had a return on equity of 55.17% and a net margin of 8.32%. The firm's quarterly revenue was down 18.5% on a year-over-year basis. During the same period last year, the firm posted $1.44 earnings per share.

CVR Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.59%. The ex-dividend date is Friday, May 10th. CVR Energy's payout ratio is 26.14%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Scotiabank lifted their price objective on CVR Energy from $25.00 to $29.00 and gave the stock a "sector underperform" rating in a report on Thursday, April 11th. StockNews.com cut shares of CVR Energy from a "buy" rating to a "hold" rating in a report on Friday, February 23rd.

Institutional Trading of CVR Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC lifted its position in shares of CVR Energy by 1.5% during the 4th quarter. SummerHaven Investment Management LLC now owns 23,675 shares of the oil and gas company's stock valued at $717,000 after buying an additional 347 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of CVR Energy by 6.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 7,806 shares of the oil and gas company's stock valued at $237,000 after purchasing an additional 449 shares during the period. Burney Co. lifted its stake in shares of CVR Energy by 3.9% during the 3rd quarter. Burney Co. now owns 13,694 shares of the oil and gas company's stock valued at $466,000 after buying an additional 516 shares in the last quarter. Swiss National Bank boosted its holdings in CVR Energy by 0.9% in the 3rd quarter. Swiss National Bank now owns 66,300 shares of the oil and gas company's stock worth $2,256,000 after buying an additional 600 shares during the period. Finally, Rhumbline Advisers raised its holdings in CVR Energy by 0.6% during the third quarter. Rhumbline Advisers now owns 102,230 shares of the oil and gas company's stock valued at $3,479,000 after acquiring an additional 653 shares during the period. 98.88% of the stock is owned by hedge funds and other institutional investors.

CVR Energy Stock Performance

The business has a 50 day moving average price of $34.44 and a two-hundred day moving average price of $32.80. The stock has a market cap of $3.05 billion, a P/E ratio of 3.96 and a beta of 1.57. The company has a quick ratio of 0.94, a current ratio of 1.30 and a debt-to-equity ratio of 1.52.

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.