CVR Energy Inc. (CVI) Stock Price Down 5.8%
Shares of CVR Energy Inc. (NYSE:CVI) dropped 5.8% on Tuesday . The stock traded as low as $20.96 and last traded at $21.37. Approximately 790,384 shares changed hands during mid-day trading, an increase of 28% from the average daily volume of 618,934 shares. The stock had previously closed at $22.68.
CVI has been the topic of several research analyst reports. ValuEngine raised CVR Energy from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 11th. BidaskClub lowered CVR Energy from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $14.50.
The stock has a market capitalization of $1.86 billion, a PE ratio of 77.99 and a beta of 1.69. The company’s 50-day moving average is $19.76 and its 200-day moving average is $20.57.
CVR Energy (NYSE:CVI) last posted its earnings results on Thursday, July 27th. The oil and gas company reported ($0.04) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.07. CVR Energy had a return on equity of 2.10% and a net margin of 0.44%. The business had revenue of $1.43 billion during the quarter. Analysts anticipate that CVR Energy Inc. will post $0.37 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, August 7th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 9.36%. The ex-dividend date of this dividend was Thursday, August 3rd. CVR Energy’s payout ratio is 714.31%.
A number of institutional investors have recently bought and sold shares of CVI. Advisor Group Inc. boosted its holdings in shares of CVR Energy by 27.6% in the 2nd quarter. Advisor Group Inc. now owns 4,685 shares of the oil and gas company’s stock worth $102,000 after purchasing an additional 1,013 shares in the last quarter. Creative Planning boosted its holdings in shares of CVR Energy by 39.4% in the 2nd quarter. Creative Planning now owns 6,550 shares of the oil and gas company’s stock worth $143,000 after purchasing an additional 1,850 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of CVR Energy by 6.0% in the 1st quarter. Public Employees Retirement System of Ohio now owns 9,293 shares of the oil and gas company’s stock worth $187,000 after purchasing an additional 530 shares in the last quarter. Koch Industries Inc. purchased a new position in shares of CVR Energy in the 2nd quarter worth about $216,000. Finally, US Bancorp DE boosted its holdings in shares of CVR Energy by 23.2% in the 1st quarter. US Bancorp DE now owns 11,065 shares of the oil and gas company’s stock worth $222,000 after purchasing an additional 2,085 shares in the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.
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CVR Energy Company Profile
CVR Energy, Inc (CVR Energy) is a holding company. The Company is engaged 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).