CVR Energy (NYSE:CVI) Reaches New 52-Week High - Here's Why

CVR Energy Inc. (NYSE:CVI - Get Free Report) hit a new 52-week high on Thursday . The company traded as high as $47.85 and last traded at $47.6380, with a volume of 1152077 shares trading hands. The stock had previously closed at $46.12.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Mizuho raised their price target on shares of CVR Energy from $28.00 to $29.00 and gave the stock an "underperform" rating in a research report on Tuesday, August 4th. Tudor Pickering lowered shares of CVR Energy from a "hold" rating to a "sell" rating in a report on Thursday, June 4th. Wall Street Zen upgraded shares of CVR Energy from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Zacks Research upgraded CVR Energy from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of CVR Energy in a research note on Wednesday, August 12th. Three equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Strong Sell" and an average price target of $30.50.

CVR Energy Stock Performance

The company has a debt-to-equity ratio of 2.38, a current ratio of 1.42 and a quick ratio of 0.92. The stock has a fifty day moving average price of $35.87 and a two-hundred day moving average price of $32.46. The company has a market cap of $4.79 billion, a P/E ratio of 70.06 and a beta of 0.85.

CVR Energy (NYSE:CVI - Get Free Report) last posted its earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.26 by $0.08. The firm had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.22 billion. CVR Energy had a negative return on equity of 15.21% and a net margin of 0.81%.The firm's revenue was up 55.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.23) EPS. On average, equities analysts forecast that CVR Energy Inc. will post 0.79 earnings per share for the current fiscal year.

CVR Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 10th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.8%. CVR Energy's dividend payout ratio is presently 58.82%.

Institutional Investors Weigh In On CVR Energy

A number of hedge funds and other institutional investors have recently modified their holdings of CVI. Nykredit A S acquired a new stake in CVR Energy in the second quarter worth about $29,000. EverSource Wealth Advisors LLC increased its stake in CVR Energy by 44.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,102 shares of the oil and gas company's stock valued at $37,000 after buying an additional 339 shares during the period. PNC Financial Services Group Inc. raised its position in shares of CVR Energy by 51.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,142 shares of the oil and gas company's stock worth $38,000 after buying an additional 388 shares in the last quarter. Quarry LP bought a new stake in shares of CVR Energy during the 3rd quarter worth about $50,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of CVR Energy in the 4th quarter worth approximately $40,000. 98.88% of the stock is currently owned by institutional investors.

CVR Energy Company Profile

CVR Energy, Inc is an independent downstream energy company engaged primarily in petroleum refining and nitrogen fertilizer production in the United States. Headquartered in Sugar Land, Texas, CVR Energy operates through two reportable segments—Petroleum Products and Nitrogen Fertilizers—leveraging its refining expertise and distribution network to serve both wholesale and retail markets across key regions in the U.S.

In its Petroleum Products segment, the company owns and operates the Coffeyville, Kansas refinery, which has the capability to process various grades of crude oil into gasoline, diesel, jet fuel and other refined products.

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