CVR Energy (NYSE:CVI) Sets New 1-Year High - Here's What Happened

Key Points

• CVR Energy shares reached a new 52-week high of $56.24, significantly above their 50-day and 200-day moving averages, with the company valued at approximately $5.45 billion.
• Recent quarterly results exceeded expectations: CVR reported $0.34 in EPS versus a $0.26 estimate and $2.74 billion in revenue, up 55.5% year over year.
• Despite the stock’s rise, analysts remain cautious, with a consensus “Reduce” rating and a $30.50 target price; CVR also pays a quarterly dividend of $0.10 per share.

CVR Energy Inc. (NYSE:CVI - Get Free Report)'s stock price reached a new 52-week high during trading on Friday. The stock traded as high as $56.24 and last traded at $54.5510, with a volume of 73092 shares traded. The stock had previously closed at $54.36.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CVI. Zacks Research raised shares of CVR Energy from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. Weiss Ratings raised CVR Energy from a "sell (d-)" rating to a "hold (c)" rating in a research note on Tuesday, September 22nd. Wall Street Zen upgraded CVR Energy from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Mizuho lifted their target price on CVR Energy from $28.00 to $29.00 and gave the company an "underperform" rating in a research report on Tuesday, August 4th. Finally, Tudor Pickering downgraded CVR Energy from a "hold" rating to a "sell" rating in a report on Thursday, June 4th. Four equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, CVR Energy currently has an average rating of "Reduce" and a consensus target price of $30.50.

CVR Energy Stock Performance

The company has a 50-day simple moving average of $42.11 and a two-hundred day simple moving average of $35.45. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 2.38. The firm has a market cap of $5.45 billion, a PE ratio of 79.50 and a beta of 0.90.

CVR Energy (NYSE:CVI - Get Free Report) last announced its earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.08. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.22 billion. CVR Energy had a negative return on equity of 15.21% and a net margin of 0.81%.The business's revenue was up 55.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.23) EPS. As a group, equities research analysts forecast that CVR Energy Inc. will post 1.56 earnings per share for the current year.

CVR Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 10th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Monday, August 10th. CVR Energy's dividend payout ratio (DPR) is 58.82%.

Institutional Trading of CVR Energy

Several hedge funds have recently added to or reduced their stakes in CVI. State Street Corp raised its holdings in shares of CVR Energy by 11.0% in the 2nd quarter. State Street Corp now owns 2,153,498 shares of the oil and gas company's stock worth $59,315,000 after purchasing an additional 213,829 shares during the period. WINTON GROUP Ltd grew its holdings in CVR Energy by 357.8% during the second quarter. WINTON GROUP Ltd now owns 164,204 shares of the oil and gas company's stock valued at $4,522,000 after purchasing an additional 128,339 shares during the period. Engineers Gate Manager LP purchased a new stake in CVR Energy in the second quarter worth $903,000. Integrated Wealth Concepts LLC purchased a new stake in CVR Energy in the second quarter worth $92,000. Finally, NewEdge Advisors LLC raised its stake in shares of CVR Energy by 2.5% in the second quarter. NewEdge Advisors LLC now owns 13,890 shares of the oil and gas company's stock valued at $383,000 after buying an additional 336 shares during the period. Institutional investors own 98.88% of the company's stock.

About CVR Energy

CVR Energy, Inc is a diversified energy company engaged primarily in petroleum refining and nitrogen fertilizer production. Headquartered in Sugar Land, Texas, the company operates through subsidiaries that serve customers in the United States, with activities concentrated in the Midcontinent region.

Through its refining operations, CVR Energy processes crude oil into transportation fuels and other refined products, including gasoline, diesel fuel, jet fuel and asphalt. Its refineries are located in Coffeyville, Kansas, and Wynnewood, Oklahoma, and are supported by related logistics, storage and transportation assets.

CVR Energy also owns and operates nitrogen fertilizer facilities through CVR Partners, LP.

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