CVR Energy (NYSE:CVI) Shares Up 8.4% – Still a Buy?

CVR Energy Inc. (NYSE:CVI) shares rose 8.4% on Wednesday . The stock traded as high as $24.42 and last traded at $24.69. Approximately 475,612 shares were traded during trading, a decline of 68% from the average daily volume of 1,483,878 shares. The stock had previously closed at $22.78.

Analysts Set New Price Targets

Several brokerages have recently commented on CVI. Wall Street Zen raised shares of CVR Energy from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “hold (c)” rating on shares of CVR Energy in a report on Monday, December 29th. The Goldman Sachs Group increased their price objective on CVR Energy from $19.00 to $25.00 and gave the stock a “sell” rating in a report on Wednesday, October 22nd. UBS Group set a $37.00 price objective on CVR Energy in a research report on Sunday, September 28th. Finally, Scotiabank restated an “underperform” rating on shares of CVR Energy in a report on Thursday, October 9th. Two analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, CVR Energy has a consensus rating of “Strong Sell” and an average price target of $29.25.

CVR Energy Price Performance

The stock has a market cap of $2.34 billion, a P/E ratio of 14.21 and a beta of 1.14. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.28 and a current ratio of 1.96. The firm has a 50-day moving average price of $30.12 and a 200-day moving average price of $31.26.

CVR Energy (NYSE:CVI) last issued its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.20. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.82 billion. CVR Energy had a negative return on equity of 6.43% and a net margin of 2.26%.The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.50) earnings per share. On average, analysts forecast that CVR Energy Inc. will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CVR Energy

Several hedge funds have recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. lifted its holdings in shares of CVR Energy by 33.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,364,250 shares of the oil and gas company’s stock valued at $49,768,000 after purchasing an additional 345,758 shares during the last quarter. American Century Companies Inc. increased its position in CVR Energy by 5.5% during the 2nd quarter. American Century Companies Inc. now owns 825,202 shares of the oil and gas company’s stock valued at $22,157,000 after buying an additional 43,190 shares in the last quarter. BNP Paribas Financial Markets raised its stake in CVR Energy by 21,261.8% during the third quarter. BNP Paribas Financial Markets now owns 776,073 shares of the oil and gas company’s stock valued at $28,311,000 after buying an additional 772,440 shares during the last quarter. Bank of America Corp DE boosted its holdings in CVR Energy by 101.2% in the third quarter. Bank of America Corp DE now owns 706,504 shares of the oil and gas company’s stock worth $25,773,000 after acquiring an additional 355,412 shares in the last quarter. Finally, Tudor Investment Corp ET AL bought a new stake in CVR Energy in the third quarter worth $22,217,000. Institutional investors own 98.88% of the company’s stock.

About CVR Energy

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.