CVR Energy (NYSE:CVI) Trading 7.2% Higher on Analyst Upgrade

Shares of CVR Energy Inc. (NYSE:CVI) were up 7.2% during mid-day trading on Tuesday after Mizuho raised their price target on the stock from $28.00 to $32.00. Mizuho currently has an underperform rating on the stock. CVR Energy traded as high as $29.92 and last traded at $30.2560. Approximately 155,278 shares were traded during trading, a decline of 89% from the average daily volume of 1,354,837 shares. The stock had previously closed at $28.22.

CVI has been the topic of a number of other reports. Weiss Ratings cut CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research note on Friday, February 20th. The Goldman Sachs Group boosted their price objective on CVR Energy from $22.00 to $25.00 and gave the stock a “sell” rating in a research report on Thursday, March 12th. Finally, Wall Street Zen cut shares of CVR Energy from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. One equities research analyst has rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, CVR Energy has an average rating of “Strong Sell” and an average price target of $30.00.

Insider Buying and Selling

In other news, major shareholder Carl C. Icahn purchased 275,012 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were bought at an average price of $21.41 per share, with a total value of $5,888,006.92. Following the completion of the transaction, the insider directly owned 71,201,875 shares in the company, valued at approximately $1,524,432,143.75. This represents a 0.39% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have acquired 783,404 shares of company stock worth $16,445,044. 0.01% of the stock is owned by company insiders.

Institutional Investors Weigh In On CVR Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP acquired a new position in CVR Energy during the third quarter worth $50,000. Aster Capital Management DIFC Ltd acquired a new stake in CVR Energy in the fourth quarter valued at $40,000. Exchange Traded Concepts LLC purchased a new stake in shares of CVR Energy during the 4th quarter worth $47,000. Horizon Investments LLC purchased a new stake in shares of CVR Energy during the 4th quarter worth $47,000. Finally, Raymond James Financial Inc. acquired a new position in shares of CVR Energy during the 2nd quarter worth $53,000. 98.88% of the stock is owned by hedge funds and other institutional investors.

CVR Energy Trading Up 10.3%

The business has a fifty day moving average of $24.27 and a two-hundred day moving average of $30.12. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of 126.56 and a beta of 1.12. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.13 and a current ratio of 1.79.

CVR Energy (NYSE:CVI) last announced its quarterly earnings results on Wednesday, February 18th. The oil and gas company reported ($0.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.84) by $0.04. CVR Energy had a net margin of 0.38% and a negative return on equity of 14.31%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the firm earned ($0.13) earnings per share. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. As a group, equities analysts expect that CVR Energy Inc. will post -0.12 earnings per share for the current fiscal year.

CVR Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Monday, March 2nd were issued a dividend of $0.37 per share. The ex-dividend date was Monday, March 2nd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.5%.

CVR Energy Company Profile

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.