CVR Energy (NYSE:CVI) Shares Gap Down – Time to Sell?

CVR Energy Inc. (NYSE:CVI)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $33.03, but opened at $30.31. CVR Energy shares last traded at $31.4010, with a volume of 191,232 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Weiss Ratings downgraded shares of CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research report on Friday, February 20th. Scotiabank upgraded shares of CVR Energy to a “strong sell” rating in a research report on Friday, March 27th. Raymond James Financial upgraded shares of CVR Energy from an “underperform” rating to a “market perform” rating in a research report on Wednesday, March 25th. Mizuho upped their price objective on shares of CVR Energy from $28.00 to $32.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 17th. Finally, The Goldman Sachs Group upped their price objective on shares of CVR Energy from $22.00 to $25.00 and gave the stock a “sell” rating in a research report on Thursday, March 12th. Two research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Strong Sell” and an average target price of $30.00.

CVR Energy Stock Performance

The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 122.39 and a beta of 0.94. The stock’s 50 day moving average is $26.96 and its 200 day moving average is $30.22. The company has a current ratio of 1.79, a quick ratio of 1.13 and a debt-to-equity ratio of 1.95.

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

CVR Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Monday, March 2nd were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend was Monday, March 2nd. CVR Energy’s dividend payout ratio is presently 569.23%.

Insider Buying and Selling

In other CVR Energy news, major shareholder Carl C. Icahn acquired 275,012 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were purchased at an average cost of $21.41 per share, with a total value of $5,888,006.92. Following the purchase, the insider owned 71,201,875 shares in the company, valued at approximately $1,524,432,143.75. The trade was a 0.39% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders have bought 783,404 shares of company stock valued at $16,445,044. 0.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CVR Energy

Large investors have recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd acquired a new stake in CVR Energy in the 4th quarter valued at about $40,000. Exchange Traded Concepts LLC acquired a new stake in CVR Energy in the 4th quarter valued at about $47,000. Horizon Investments LLC acquired a new stake in CVR Energy in the 4th quarter valued at about $47,000. Quarry LP acquired a new stake in CVR Energy in the 3rd quarter valued at about $50,000. Finally, Raymond James Financial Inc. acquired a new stake in CVR Energy in the 2nd quarter valued at about $53,000. 98.88% of the stock is owned by institutional investors and hedge funds.

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.