CVR Energy (NYSE:CVI) Stock Price Up 4.6% - What's Next?

Key Points

• CVR Energy shares rose 4.6% to $41.58 in mid-day trading, despite volume running 84% below the average session level.
• Analyst sentiment remains highly negative: the stock carries a consensus “Strong Sell” rating, with an average price target of $30.50 versus its current price.
• CVR Energy exceeded quarterly expectations, reporting adjusted EPS of $0.34 versus the $0.26 consensus and revenue of $2.74 billion, up 55.5% year over year; it also maintains a $0.10 quarterly dividend.

CVR Energy Inc. (NYSE:CVI - Get Free Report)'s share price was up 4.6% during mid-day trading on Friday . The company traded as high as $41.61 and last traded at $41.58. 181,382 shares changed hands during trading, a decline of 84% from the average session volume of 1,152,996 shares. The stock had previously closed at $39.76.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CVI shares. Wall Street Zen raised shares of CVR Energy from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. UBS Group restated a "neutral" rating and set a $35.00 target price on shares of CVR Energy in a report on Monday, June 29th. Zacks Research raised shares of CVR Energy from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. Tudor Pickering cut shares of CVR Energy from a "hold" rating to a "sell" rating in a research note on Thursday, June 4th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of CVR Energy in a research report on Wednesday, August 12th. Three research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Strong Sell" and an average price target of $30.50.

CVR Energy Stock Up 4.6%

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 50 day simple moving average of $32.90 and a 200-day simple moving average of $31.14. The stock has a market cap of $4.18 billion, a P/E ratio of 61.15 and a beta of 0.83.

CVR Energy (NYSE:CVI - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.08. CVR Energy had a negative return on equity of 15.21% and a net margin of 0.81%.The company had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.22 billion. During the same period last year, the firm posted ($0.23) earnings per share. The business's revenue was up 55.5% on a year-over-year basis. On average, equities research 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. Shareholders 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 dividend payout ratio (DPR) is currently 58.82%.

Hedge Funds Weigh In On CVR Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Amundi raised its position in shares of CVR Energy by 13.6% in the second quarter. Amundi now owns 23,147 shares of the oil and gas company's stock valued at $637,000 after purchasing an additional 2,766 shares during the period. California State Teachers Retirement System lifted its stake in shares of CVR Energy by 2,693.8% during the 2nd quarter. California State Teachers Retirement System now owns 937,241 shares of the oil and gas company's stock worth $25,812,000 after buying an additional 903,694 shares during the last quarter. Nykredit A S bought a new stake in shares of CVR Energy during the 2nd quarter worth about $29,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of CVR Energy during the 2nd quarter worth about $430,000. Finally, Capstone Investment Advisors LLC acquired a new position in CVR Energy in the 2nd quarter valued at about $791,000. 98.88% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source