CVR Energy (NYSE:CVI) Hits New 1-Year Low on Analyst Downgrade

CVR Energy, Inc. (NYSE:CVI) reached a new 52-week low during trading 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.

A number of other research firms have also weighed in on CVI. UBS Group dropped their price target on shares of CVR Energy from $37.00 to $33.75 and set a “neutral” rating on the stock in a research report on Tuesday, May 14th. StockNews.com downgraded CVR Energy from a “buy” rating to a “hold” rating in a research report on Sunday, June 16th. Finally, Scotiabank lifted their price target on CVR Energy from $25.00 to $29.00 and gave the stock a “sector underperform” rating in a report on Thursday, April 11th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to data from MarketBeat, CVR Energy has an average rating of “Reduce” and a consensus target price of $29.94.

Institutional Investors Weigh In On CVR Energy

Several large investors have recently added to or reduced their stakes in CVI. FMR LLC lifted its position in CVR Energy by 119.0% during the third quarter. FMR LLC now owns 142,812 shares of the oil and gas company’s stock valued at $4,860,000 after purchasing an additional 77,614 shares during the last quarter. Hsbc Holdings PLC increased its stake in CVR Energy by 35.3% in the third quarter. Hsbc Holdings PLC now owns 15,330 shares of the oil and gas company’s stock valued at $521,000 after acquiring an additional 3,999 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in CVR Energy during the third quarter valued at about $290,000. Schonfeld Strategic Advisors LLC lifted its stake in CVR Energy by 36.9% during the third quarter. Schonfeld Strategic Advisors LLC now owns 103,200 shares of the oil and gas company’s stock worth $3,512,000 after purchasing an additional 27,816 shares during the last quarter. Finally, Quadrature Capital Ltd boosted its holdings in shares of CVR Energy by 82.4% in the 3rd quarter. Quadrature Capital Ltd now owns 25,106 shares of the oil and gas company’s stock worth $854,000 after purchasing an additional 11,342 shares in the last quarter. Hedge funds and other institutional investors own 98.88% of the company’s stock.

CVR Energy Price Performance

The stock has a market capitalization of $2.67 billion, a P/E ratio of 4.07 and a beta of 1.54. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.91 and a current ratio of 1.49. The firm has a 50-day moving average price of $28.39 and a 200 day moving average price of $31.61.

CVR Energy (NYSE:CVI) last posted its quarterly earnings results on Monday, April 29th. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 7.44% and a return on equity of 40.14%. The business’s quarterly revenue was down 18.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.44 earnings per share. On average, analysts expect that CVR Energy, Inc. will post 0.95 EPS for the current year.

CVR Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.53%. The ex-dividend date of this dividend was Friday, May 10th. CVR Energy’s dividend payout ratio (DPR) is presently 30.67%.

About CVR Energy

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.