CVR Energy Inc. (CVI) Trading Down 7.4%
CVR Energy Inc. (NYSE:CVI) shares fell 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 traded. The stock had previously closed at $14.80.
Several brokerages recently issued reports on CVI. Goldman Sachs Group Inc. reiterated a “sell” rating on shares of CVR Energy in a research note on Wednesday, June 29th. Simmons reduced their price objective on shares of CVR Energy from $20.00 to $17.00 in a research note on Tuesday, April 12th.
The firm’s 50 day moving average price is $15.31 and its 200-day moving average price is $22.47. The stock has a market capitalization of $1.22 billion and a price-to-earnings ratio of 48.75.
CVR Energy (NYSE:CVI) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.27. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.15 billion. The company’s revenue was down 21.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.17 EPS. Equities research analysts predict that CVR Energy Inc. will post ($0.47) earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Monday, August 8th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 14.53%. The ex-dividend date is Thursday, August 4th.
Several hedge funds recently modified their holdings of the stock. Schroder Investment Management Group raised its stake in shares of 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 in the last quarter. California Public Employees Retirement System raised its stake in shares of 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 in the last quarter. First Trust Advisors LP bought a new stake in shares of CVR Energy during the fourth quarter worth about $2,224,000. Finally, California State Teachers Retirement System raised its stake in shares of 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 in 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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