CVR Energy (NYSE:CVI) Trading Down 4.1%

CVR Energy, Inc. (NYSE:CVI) fell 4.1% during trading on Friday . The company traded as low as $23.59 and last traded at $23.60. 174,090 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 1,024,814 shares. The stock had previously closed at $24.60.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CVI. StockNews.com cut CVR Energy from a “buy” rating to a “hold” rating in a research report on Sunday, June 16th. Scotiabank raised their price target on CVR Energy from $24.00 to $25.00 and gave the stock a “sector underperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. decreased their price target on CVR Energy from $30.00 to $26.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 2nd. Tudor Pickering upgraded CVR Energy to a “strong sell” rating in a research report on Monday, September 9th. Finally, Mizuho decreased their price target on CVR Energy from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Monday. Four equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $26.50.

CVR Energy Stock Down 4.8 %

The firm has a 50 day moving average of $24.87 and a two-hundred day moving average of $28.72. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 3.56 and a beta of 1.49. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 1.51.

CVR Energy (NYSE:CVI) last released its quarterly earnings data on Monday, July 29th. The oil and gas company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.39. CVR Energy had a return on equity of 25.00% and a net margin of 6.39%. The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the firm posted $1.64 earnings per share. CVR Energy’s revenue was down 12.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that CVR Energy, Inc. will post 0.55 EPS for the current fiscal year.

CVR Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.54%. The ex-dividend date of this dividend was Monday, August 12th. CVR Energy’s payout ratio is 30.67%.

Institutional Trading of CVR Energy

A number of hedge funds have recently made changes to their positions in the company. SummerHaven Investment Management LLC boosted its stake in shares of CVR Energy by 2.2% during the second quarter. SummerHaven Investment Management LLC now owns 24,511 shares of the oil and gas company’s stock valued at $656,000 after purchasing an additional 530 shares in the last quarter. WBI Investments LLC lifted its stake in shares of CVR Energy by 2.6% in the fourth quarter. WBI Investments LLC now owns 27,729 shares of the oil and gas company’s stock worth $840,000 after acquiring an additional 706 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of CVR Energy by 4.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,485 shares of the oil and gas company’s stock worth $767,000 after acquiring an additional 990 shares during the period. Jones Financial Companies Lllp acquired a new position in shares of CVR Energy in the fourth quarter worth approximately $33,000. Finally, Quest Partners LLC lifted its stake in shares of CVR Energy by 47.3% in the second quarter. Quest Partners LLC now owns 3,485 shares of the oil and gas company’s stock worth $93,000 after acquiring an additional 1,119 shares during the period. 98.88% of the stock is owned by institutional investors and hedge funds.

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.