CVR Energy (NYSE:CVI) Shares Gap Up – Time to Buy?

CVR Energy Inc. (NYSE:CVI)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $41.76, but opened at $43.47. CVR Energy shares last traded at $41.20, with a volume of 75,816 shares trading hands.

Wall Street Analyst Weigh In

CVI has been the subject of several research analyst reports. Wall Street Zen upgraded CVR Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Zacks Research raised CVR Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Weiss Ratings restated a “sell (d-)” rating on shares of CVR Energy in a report on Wednesday, August 12th. Mizuho raised their price target on CVR Energy from $28.00 to $29.00 and gave the stock an “underperform” rating in a research note on Tuesday, August 4th. Finally, Tudor Pickering cut shares of CVR Energy from a “hold” rating to a “sell” rating in a report on Thursday, June 4th. Three research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Strong Sell” and an average price target of $30.50.

CVR Energy Stock Down 1.9%

The company has a debt-to-equity ratio of 2.38, a current ratio of 1.42 and a quick ratio of 0.92. The stock has a 50 day simple moving average of $33.19 and a 200-day simple moving average of $31.26. The firm has a market cap of $4.12 billion, a PE ratio of 60.22 and a beta of 0.83.

CVR Energy (NYSE:CVI) last released its earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.08. The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.22 billion. CVR Energy had a negative return on equity of 15.21% and a net margin of 0.81%.The company’s quarterly revenue was up 55.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.23) earnings per share. Sell-side analysts predict that CVR Energy Inc. will post 0.79 EPS for the current fiscal year.

CVR Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 10th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Monday, August 10th. CVR Energy’s dividend payout ratio (DPR) is currently 58.82%.

Institutional Investors Weigh In On CVR Energy

A number of institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of CVR Energy during the second quarter valued at approximately $143,262,000. California State Teachers Retirement System boosted its stake in CVR Energy by 2,693.8% during the 2nd quarter. California State Teachers Retirement System now owns 937,241 shares of the oil and gas company’s stock valued at $25,812,000 after purchasing an additional 903,694 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of CVR Energy by 21,261.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 776,073 shares of the oil and gas company’s stock worth $28,311,000 after purchasing an additional 772,440 shares in the last quarter. PDT Partners LLC bought a new stake in shares of CVR Energy in the 2nd quarter worth $14,502,000. Finally, Squarepoint Ops LLC purchased a new position in shares of CVR Energy in the fourth quarter worth $9,616,000. Hedge funds and other 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.