Shares of CVR Energy Inc. (NYSE:CVI) rose 9.5% during mid-day trading on Thursday following a better than expected earnings announcement. The stock traded as high as $24.36 and last traded at $23.57, with a volume of 2,178,294 shares. The stock had previously closed at $21.53.

The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.19. CVR Energy had a positive return on equity of 1.81% and a negative net margin of 0.62%. The company earned $1.35 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the business posted ($0.52) EPS. CVR Energy’s revenue for the quarter was up 33.9% on a year-over-year basis.

Separately, TheStreet cut CVR Energy from a “hold” rating to a “sell” rating in a report on Thursday, October 27th.

A number of institutional investors have recently made changes to their positions in CVI. Airain ltd purchased a new position in shares of CVR Energy during the second quarter worth approximately $192,000. Ameriprise Financial Inc. bought a new stake in CVR Energy during the second quarter worth about $2,137,000. JPMorgan Chase & Co. raised its stake in CVR Energy by 2,001.8% in the second quarter. JPMorgan Chase & Co. now owns 177,221 shares of the company’s stock worth $2,747,000 after buying an additional 168,789 shares in the last quarter. Nationwide Fund Advisors raised its stake in CVR Energy by 416.0% in the second quarter. Nationwide Fund Advisors now owns 34,786 shares of the company’s stock worth $539,000 after buying an additional 28,045 shares in the last quarter. Finally, Groesbeck Investment Management Corp NJ bought a new stake in CVR Energy during the second quarter worth about $775,000. Institutional investors own 98.99% of the company’s stock.

The company’s market cap is $2.05 billion. The stock’s 50 day moving average price is $22.90 and its 200-day moving average price is $17.63.

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CVR Energy Company Profile

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).

5 Day Chart for NYSE:CVI

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