CVR Energy Inc. (CVI) Shares Down 7.4%
CVR Energy Inc. (NYSE:CVI) shares traded down 7.4% during mid-day trading on Monday . The stock traded as low as $13.60 and last traded at $13.70, with a volume of 1,266,649 shares changing hands. The stock had previously closed at $14.80.
A number of analysts have weighed in on the stock. Goldman Sachs Group Inc. reissued a “sell” rating on shares of CVR Energy in a research report on Wednesday, June 29th. Simmons decreased their target price on shares of CVR Energy from $20.00 to $17.00 in a research report on Tuesday, April 12th.
The firm’s 50 day moving average price is $15.59 and its 200-day moving average price is $22.99. The stock has a market capitalization of $1.19 billion and a price-to-earnings ratio of 47.23.
CVR Energy (NYSE:CVI) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.27. The company earned $1.28 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the firm earned $1.17 EPS. The business’s quarterly revenue was down 21.0% compared to the same quarter last year. On average, analysts forecast that CVR Energy Inc. will post ($0.47) earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Monday, August 8th will be issued a $0.50 dividend. The ex-dividend date is Thursday, August 4th. This represents a $2.00 dividend on an annualized basis and a yield of 14.65%.
Other institutional investors have added to or reduced their stakes in the company. California State Teachers Retirement System boosted its position in CVR Energy by 1.4% in the fourth quarter. California State Teachers Retirement System now owns 29,554 shares of the company’s stock worth $1,163,000 after buying an additional 407 shares during the last quarter. First Trust Advisors LP acquired a new position in CVR Energy during the fourth quarter worth $2,224,000. California Public Employees Retirement System boosted its position in CVR Energy by 9.3% in the fourth quarter. California Public Employees Retirement System now owns 120,500 shares of the company’s stock worth $4,742,000 after buying an additional 10,300 shares during the last quarter. Finally, Schroder Investment Management Group boosted its position in CVR Energy by 2,013.3% in the fourth quarter. Schroder Investment Management Group now owns 397,300 shares of the company’s stock worth $15,634,000 after buying an additional 378,500 shares during the last quarter.
CVR Energy, Inc (CVR Energy) is a holding company. The Company engages in the petroleum refining and nitrogen fertilizer manufacturing through its holdings in CVR Refining LP (CVR Refining or the Refining Partnership) and CVR Partners LP (CVR Partners or the Nitrogen Fertilizer Partnership). It operates under two business segments: petroleum (the petroleum and related businesses operated by the Refining Partnership) and nitrogen fertilizer (the nitrogen fertilizer business operated by the Nitrogen Fertilizer Partnership).
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