CVR Energy (NYSE:CVI) Sets New 12-Month High - Still a Buy?

Key Points

• CVR Energy shares hit a new 52-week high of $42.20 and last traded at $41.77, up from a previous close of $39.76.
• Despite the price surge, analyst sentiment remains negative: MarketBeat reports a consensus rating of “Strong Sell” and an average price target of $30.50, well below the current price.
• CVR Energy beat quarterly expectations with $0.34 in earnings per share versus $0.26 expected and revenue of $2.74 billion, up 55.5% year over year. The company also paid a quarterly dividend of $0.10 per share, representing a 1.0% annualized yield.

CVR Energy Inc. (NYSE:CVI - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Saturday . The company traded as high as $42.20 and last traded at $41.77, with a volume of 929667 shares changing hands. The stock had previously closed at $39.76.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CVI shares. Weiss Ratings restated a "sell (d-)" rating on shares of CVR Energy in a research note on Wednesday, August 12th. UBS Group restated a "neutral" rating and issued a $35.00 target price on shares of CVR Energy in a research report on Monday, June 29th. Mizuho lifted their target price on CVR Energy from $28.00 to $29.00 and gave the company an "underperform" rating in a research note on Tuesday, August 4th. Wall Street Zen upgraded CVR Energy from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Finally, Zacks Research upgraded CVR Energy from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. Three analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Strong Sell" and an average target price of $30.50.

CVR Energy Stock Performance

The stock has a market cap of $4.20 billion, a price-to-earnings ratio of 61.43 and a beta of 0.83. The company's 50 day simple moving average is $33.19 and its 200 day simple moving average is $31.21. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.92 and a current ratio of 1.42.

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

CVR Energy Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.40 annualized dividend and a yield of 1.0%. CVR Energy's payout ratio is presently 58.82%.

Hedge Funds Weigh In On CVR Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its stake in shares of CVR Energy by 44.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,102 shares of the oil and gas company's stock worth $37,000 after buying an additional 339 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of CVR Energy by 51.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,142 shares of the oil and gas company's stock valued at $38,000 after buying an additional 388 shares during the period. Victory Capital Management Inc. boosted its stake in CVR Energy by 2.9% during the third quarter. Victory Capital Management Inc. now owns 21,329 shares of the oil and gas company's stock valued at $778,000 after buying an additional 596 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in CVR Energy by 3.9% during the fourth quarter. Illinois Municipal Retirement Fund now owns 17,741 shares of the oil and gas company's stock worth $451,000 after acquiring an additional 660 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in CVR Energy by 1.5% during the third quarter. Alliancebernstein L.P. now owns 48,943 shares of the oil and gas company's stock worth $1,785,000 after acquiring an additional 700 shares during the period. 98.88% of the stock is owned by institutional investors.

About CVR Energy

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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