CVR Energy (NYSE:CVI) Shares Gap Up – Still a Buy?

Shares of CVR Energy, Inc. (NYSE:CVI) gapped up prior to trading on Friday . The stock had previously closed at $16.52, but opened at $17.81. CVR Energy shares last traded at $17.96, with a volume of 702,613 shares changing hands.

Analyst Ratings Changes

CVI has been the topic of a number of recent research reports. Tudor Pickering raised shares of CVR Energy to a “strong sell” rating in a research note on Monday, September 9th. Tudor, Pickering, Holt & Co. cut shares of CVR Energy from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. UBS Group reduced their price objective on shares of CVR Energy from $33.75 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. Mizuho reduced their price objective on shares of CVR Energy from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of CVR Energy from $26.00 to $23.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 2nd. Five investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $24.75.

CVR Energy Trading Up 11.7 %

The business’s 50-day moving average price is $22.46 and its two-hundred day moving average price is $25.49. The company has a market capitalization of $1.86 billion, a P/E ratio of 26.75 and a beta of 1.52. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.33 and a quick ratio of 0.86.

CVR Energy (NYSE:CVI) last announced its quarterly earnings results on Monday, October 28th. The oil and gas company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.41). The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.91 billion. CVR Energy had a return on equity of 2.88% and a net margin of 0.89%. The company’s revenue for the quarter was down 27.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.89 earnings per share. As a group, analysts forecast that CVR Energy, Inc. will post 0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On CVR Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in CVI. Allspring Global Investments Holdings LLC raised its holdings in shares of CVR Energy by 41.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,019 shares of the oil and gas company’s stock worth $393,000 after acquiring an additional 3,213 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of CVR Energy during the first quarter worth $449,000. ProShare Advisors LLC acquired a new stake in shares of CVR Energy during the first quarter worth $213,000. Entropy Technologies LP raised its holdings in shares of CVR Energy by 112.8% during the first quarter. Entropy Technologies LP now owns 19,789 shares of the oil and gas company’s stock worth $706,000 after acquiring an additional 10,488 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of CVR Energy by 36.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 11,516 shares of the oil and gas company’s stock worth $377,000 after acquiring an additional 3,050 shares during the period. 98.88% of the stock is currently 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.