CVR Energy (NYSE:CVI) Hits New 12-Month Low After Analyst Downgrade

CVR Energy, Inc. (NYSE:CVI) hit a new 52-week low on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $30.00 to $26.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. CVR Energy traded as low as $25.99 and last traded at $26.19, with a volume of 23333 shares trading hands. The stock had previously closed at $26.21.

CVI has been the topic of several other research reports. StockNews.com cut CVR Energy from a “buy” rating to a “hold” rating in a research report on Sunday, June 16th. Scotiabank boosted their price target on CVR Energy from $25.00 to $29.00 and gave the company a “sector underperform” rating in a research report on Thursday, April 11th. Finally, UBS Group dropped their price target on CVR Energy from $37.00 to $33.75 and set a “neutral” rating on the stock in a research report on Tuesday, May 14th. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $29.94.

Hedge Funds Weigh In On CVR Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in CVR Energy by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 4,020,717 shares of the oil and gas company’s stock valued at $143,379,000 after buying an additional 85,773 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in CVR Energy by 5.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,842,818 shares of the oil and gas company’s stock valued at $55,839,000 after buying an additional 103,235 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in CVR Energy by 57.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 924,541 shares of the oil and gas company’s stock valued at $31,462,000 after buying an additional 338,393 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in CVR Energy by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 554,792 shares of the oil and gas company’s stock valued at $16,810,000 after buying an additional 11,614 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of CVR Energy by 4.9% during the 3rd quarter. American Century Companies Inc. now owns 389,394 shares of the oil and gas company’s stock worth $13,251,000 after purchasing an additional 18,219 shares during the period. Institutional investors and hedge funds own 98.88% of the company’s stock.

CVR Energy Trading Up 1.3 %

The company has a market cap of $2.67 billion, a PE ratio of 4.07 and a beta of 1.54. The business has a 50 day simple moving average of $28.39 and a two-hundred day simple moving average of $31.61. The company has a current ratio of 1.49, a quick ratio of 0.91 and a debt-to-equity ratio of 1.48.

CVR Energy (NYSE:CVI) last issued its quarterly earnings results on Monday, April 29th. The oil and gas company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.09). The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.96 billion. CVR Energy had a return on equity of 40.14% and a net margin of 7.44%. The company’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.44 EPS. On average, analysts forecast that CVR Energy, Inc. will post 0.95 EPS for the current fiscal year.

CVR Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $2.00 annualized dividend and a yield of 7.53%. CVR Energy’s dividend payout ratio is currently 30.67%.

CVR Energy Company Profile

CVR Energy, Inc, together with its subsidiaries, engages in the petroleum refining and marketing, and nitrogen fertilizer manufacturing activities in the United States. It operates in two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment refines and supplies gasoline, crude oil, distillate, diesel fuel, and other refined products.