CVR Energy (NYSE:CVI) Trading Down 7.1% – Here’s What Happened

CVR Energy Inc. (NYSE:CVI) traded down 7.1% on Monday . The company traded as low as $23.14 and last traded at $22.7980. 97,503 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 1,430,734 shares. The stock had previously closed at $24.54.

Analysts Set New Price Targets

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, November 8th. Weiss Ratings restated a “hold (c)” rating on shares of CVR Energy in a research report on Monday, December 29th. Scotiabank reaffirmed an “underperform” rating on shares of CVR Energy in a research report on Thursday, October 9th. Finally, The Goldman Sachs Group raised their target price on shares of CVR Energy from $19.00 to $25.00 and gave the stock a “sell” rating in a report on Wednesday, October 22nd. Two analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Strong Sell” and an average price target of $29.25.

CVR Energy Price Performance

The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.28 and a current ratio of 1.96. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 13.42 and a beta of 1.14. The business’s 50 day simple moving average is $28.00 and its 200-day simple moving average is $30.88.

CVR Energy (NYSE:CVI) last announced its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.20 by $0.20. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.82 billion. CVR Energy had a net margin of 2.26% and a negative return on equity of 6.43%. CVR Energy’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.50) earnings per share. Research analysts anticipate that CVR Energy Inc. will post -0.12 earnings per share for the current year.

Institutional Trading of CVR Energy

Hedge funds have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. grew its stake in shares of CVR Energy by 33.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,364,250 shares of the oil and gas company’s stock worth $49,768,000 after purchasing an additional 345,758 shares in the last quarter. American Century Companies Inc. lifted its holdings in CVR Energy by 5.5% in the second quarter. American Century Companies Inc. now owns 825,202 shares of the oil and gas company’s stock worth $22,157,000 after purchasing an additional 43,190 shares during the period. BNP Paribas Financial Markets grew its position in 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 valued at $28,311,000 after buying an additional 772,440 shares in the last quarter. Bank of America Corp DE grew its position in CVR Energy by 101.2% in the 3rd quarter. Bank of America Corp DE now owns 706,504 shares of the oil and gas company’s stock valued at $25,773,000 after buying an additional 355,412 shares in the last quarter. Finally, Tudor Investment Corp ET AL acquired a new position in CVR Energy during the 3rd quarter valued at about $22,217,000. Institutional investors own 98.88% of the company’s stock.

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.