CVR Energy (NYSE:CVI) Shares Down 4.7% - What's Next?

Key Points

• CVR Energy shares fell 4.7% to $59.13 in mid-day trading, on volume 87% below the average session volume.
• Analyst sentiment remains cautious: the stock has a consensus rating of “Reduce”, with an average price target of $45.75 despite some recent upgrades.
• CVR Energy reported quarterly EPS of $0.34, beating estimates of $0.26, while revenue rose 55.5% year over year to $2.74 billion. The company also pays a quarterly dividend of $0.10, representing a 0.7% annualized yield.

CVR Energy Inc. (NYSE:CVI - Get Free Report) traded down 4.7% during mid-day trading on Tuesday. The company traded as low as $59.13 and last traded at $59.13. 141,426 shares were traded during trading, a decline of 87% from the average session volume of 1,125,158 shares. The stock had previously closed at $62.02.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CVI. The Goldman Sachs Group raised their target price on shares of CVR Energy from $36.00 to $50.00 and gave the stock a "sell" rating in a report on Friday, October 9th. UBS Group upped their price target on shares of CVR Energy from $35.00 to $53.00 and gave the company a "neutral" rating in a report on Friday, October 2nd. Wall Street Zen upgraded shares of CVR Energy from a "buy" rating to a "strong-buy" rating in a report on Saturday, October 10th. Zacks Research raised shares of CVR Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 16th. Finally, Weiss Ratings upgraded shares of CVR Energy from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $45.75.

CVR Energy Stock Performance

The stock has a 50-day moving average of $50.64 and a 200-day moving average of $34.91. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of 85.32 and a beta of 0.90. 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 released 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 firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.23) EPS. As a group, analysts anticipate that CVR Energy Inc. will post 4.20 EPS for the current fiscal year.

CVR Energy Announces Dividend

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

Institutional Investors Weigh In On CVR Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of CVR Energy in the 2nd quarter valued at about $143,262,000. Dimensional Fund Advisors LP increased its position in shares of CVR Energy by 16.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,908,062 shares of the oil and gas company's stock worth $64,220,000 after purchasing an additional 265,013 shares during the last quarter. State Street Corp increased its position in shares of CVR Energy by 11.0% during 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 last quarter. Bank of America Corp DE increased its position in shares of CVR Energy by 19.4% during the 2nd quarter. Bank of America Corp DE now owns 671,728 shares of the oil and gas company's stock worth $18,499,000 after purchasing an additional 109,338 shares during the last quarter. Finally, PDT Partners LLC bought a new stake in shares of CVR Energy during the 2nd quarter worth approximately $14,502,000. 98.88% of the stock is owned by institutional investors.

CVR Energy Company Profile

CVR Energy, Inc NYSE: CVI is a diversified energy company engaged primarily in petroleum refining and nitrogen fertilizer production. Through its refining operations, the company processes crude oil into transportation fuels and other refined products, including gasoline, diesel fuel, jet fuel and asphalt.

CVR Energy operates refineries in Coffeyville, Kansas, and Wynnewood, Oklahoma. The facilities primarily serve customers in the Midcontinent region of the United States and are supported by related logistics and distribution assets.

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