CVR Energy (NYSE:CVI) Stock Price Up 5.9% – Time to Buy?

CVR Energy Inc. (NYSE:CVI) traded up 5.9% on Wednesday . The stock traded as high as $30.00 and last traded at $30.3510. Approximately 62,830 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 1,211,043 shares. The stock had previously closed at $28.65.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CVI. Wall Street Zen raised shares of CVR Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Raymond James Financial raised CVR Energy from an “underperform” rating to a “market perform” rating in a research note on Wednesday, March 25th. UBS Group restated a “neutral” rating and issued a $35.00 price target on shares of CVR Energy in a research report on Monday, June 29th. Tudor Pickering cut CVR Energy from a “hold” rating to a “sell” rating in a research note on Thursday, June 4th. Finally, Weiss Ratings downgraded CVR Energy from a “sell (d+)” rating to a “sell (d-)” rating in a report on Friday, May 15th. Two research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat, CVR Energy has an average rating of “Strong Sell” and an average price target of $30.25.

CVR Energy Stock Performance

The stock has a market cap of $3.15 billion, a price-to-earnings ratio of -72.98 and a beta of 0.83. The stock’s fifty day moving average is $31.42 and its 200-day moving average is $28.45. The company has a quick ratio of 0.89, a current ratio of 1.44 and a debt-to-equity ratio of 2.41.

CVR Energy (NYSE:CVI) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.70). The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.73 billion. CVR Energy had a negative return on equity of 22.36% and a negative net margin of 0.56%.The company’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.58) earnings per share. On average, analysts forecast that CVR Energy Inc. will post -0.16 EPS for the current year.

CVR Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 18th. Investors of record on Monday, May 11th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, May 11th. CVR Energy’s dividend payout ratio (DPR) is presently -93.02%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its holdings 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 acquiring an additional 339 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of CVR Energy by 51.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,142 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 388 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of CVR Energy by 2.9% in the 3rd quarter. Victory Capital Management Inc. now owns 21,329 shares of the oil and gas company’s stock valued at $778,000 after purchasing an additional 596 shares during the period. Illinois Municipal Retirement Fund grew its position in shares of CVR Energy by 3.9% in the 4th quarter. Illinois Municipal Retirement Fund now owns 17,741 shares of the oil and gas company’s stock valued at $451,000 after purchasing an additional 660 shares during the period. Finally, Alliancebernstein L.P. increased its stake in CVR Energy by 1.5% during the 3rd quarter. Alliancebernstein L.P. now owns 48,943 shares of the oil and gas company’s stock worth $1,785,000 after purchasing an additional 700 shares in the last quarter. 98.88% of the stock is owned by institutional investors and hedge funds.

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.