CVR Energy (NYSE:CVI) Sets New 52-Week High – Still a Buy?

CVR Energy Inc. (NYSE:CVI) hit a new 52-week high on Wednesday . The stock traded as high as $52.55 and last traded at $52.14, with a volume of 1021419 shares changing hands. The stock had previously closed at $48.63.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Mizuho boosted their target price on CVR Energy from $28.00 to $29.00 and gave the company an “underperform” rating in a research note on Tuesday, August 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of CVR Energy in a research note on Wednesday, August 12th. Tudor Pickering lowered CVR Energy from a “hold” rating to a “sell” rating in a report on Thursday, June 4th. UBS Group reissued a “neutral” rating and issued a $35.00 price objective on shares of CVR Energy in a report on Monday, June 29th. Finally, Wall Street Zen upgraded CVR Energy from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Three equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Strong Sell” and a consensus target price of $30.50.

CVR Energy Stock Performance

The company has a market capitalization of $5.43 billion, a P/E ratio of 79.47 and a beta of 0.85. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 2.38. The company’s fifty day moving average is $38.47 and its 200 day moving average is $33.67.

CVR Energy (NYSE:CVI) last issued its earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.22 billion. CVR Energy had a net margin of 0.81% and a negative return on equity of 15.21%. The business’s revenue for the quarter was up 55.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.23) EPS. As a group, equities analysts anticipate that CVR Energy Inc. will post 1.56 earnings per share for the current year.

CVR Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 10th were given a $0.10 dividend. The ex-dividend date was Monday, August 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.7%. CVR Energy’s payout ratio is 58.82%.

Institutional Trading of CVR Energy

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of CVR Energy in the second quarter valued at approximately $143,262,000. Dimensional Fund Advisors LP increased its holdings in CVR Energy by 16.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,908,062 shares of the oil and gas company’s stock worth $64,220,000 after acquiring an additional 265,013 shares during the period. Bank of America Corp DE increased its holdings in CVR Energy by 19.4% during the 2nd quarter. Bank of America Corp DE now owns 671,728 shares of the oil and gas company’s stock worth $18,499,000 after acquiring an additional 109,338 shares during the period. PDT Partners LLC purchased a new stake in CVR Energy in the 2nd quarter worth approximately $14,502,000. Finally, First Trust Advisors LP lifted its stake in CVR Energy by 687.6% in the 1st quarter. First Trust Advisors LP now owns 263,448 shares of the oil and gas company’s stock worth $8,865,000 after purchasing an additional 229,998 shares in the last quarter. Hedge funds and other institutional investors own 98.88% of the company’s stock.

About CVR Energy

CVR Energy, Inc (NYSE:CVI) is a diversified energy company that operates through its petroleum refining and nitrogen fertilizer businesses. The company’s operations are primarily located in the Mid-Continent region of the United States.

Through its petroleum segment, CVR Energy owns and operates refineries in Coffeyville, Kansas, and Wynnewood, Oklahoma. These facilities process crude oil into transportation fuels and other refined products, including gasoline, diesel fuel, jet fuel, and asphalt.