CVR Energy (NYSE:CVI) Shares Down 7% – What’s Next?

Shares of CVR Energy Inc. (NYSE:CVI) were down 7% on Monday . The stock traded as low as $28.65 and last traded at $28.5310. Approximately 66,815 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 1,217,296 shares. The stock had previously closed at $30.67.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CVI shares. The Goldman Sachs Group started coverage on CVR Energy in a report on Friday, April 10th. They issued a “sell” rating and a $30.00 target price for the company. Scotiabank upped their target price on CVR Energy from $25.00 to $28.00 and gave the stock a “sector underperform” rating in a report on Wednesday, April 22nd. Mizuho upped their price target on shares of CVR Energy from $32.00 to $35.00 and gave the stock an “underperform” rating in a research report on Wednesday, May 27th. Weiss Ratings cut shares of CVR Energy from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Friday, May 15th. Finally, Tudor Pickering cut shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Thursday, June 4th. Two research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Strong Sell” and a consensus target price of $32.50.

CVR Energy Stock Performance

The business has a 50 day simple moving average of $32.47 and a 200 day simple moving average of $28.96. The company has a quick ratio of 0.89, a current ratio of 1.44 and a debt-to-equity ratio of 2.41. The company has a market capitalization of $2.78 billion, a PE ratio of -64.39 and a beta of 0.80.

CVR Energy (NYSE:CVI) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported ($1.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.70). The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.73 billion. CVR Energy had a negative net margin of 0.56% and a negative return on equity of 22.36%. The company’s quarterly revenue was up 20.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.58) earnings per share. Equities research analysts predict that CVR Energy Inc. will post 0.88 EPS for the current fiscal year.

CVR Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 18th. Stockholders of record on Monday, May 11th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, May 11th. CVR Energy’s dividend payout ratio (DPR) is presently -93.02%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CVI. EverSource Wealth Advisors LLC raised its stake in shares of CVR Energy by 44.4% in the first quarter. EverSource Wealth Advisors LLC now owns 1,102 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 339 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of CVR Energy by 51.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,142 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 388 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of CVR Energy during the fourth quarter worth $40,000. Exchange Traded Concepts LLC purchased a new position in shares of CVR Energy during the fourth quarter worth $47,000. Finally, Horizon Investments LLC purchased a new position in shares of CVR Energy during the fourth quarter worth $47,000. 98.88% of the stock is currently owned by hedge funds and other institutional investors.

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.