CVR Energy (NYSE:CVI) Trading Down 4.1%

CVR Energy, Inc. (NYSE:CVI)’s stock price was down 4.1% on Friday . The stock traded as low as $23.59 and last traded at $23.60. Approximately 174,090 shares were traded during trading, a decline of 83% from the average daily volume of 1,024,814 shares. The stock had previously closed at $24.60.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CVI shares. JPMorgan Chase & Co. cut their price objective on CVR Energy from $30.00 to $26.00 and set an “underweight” rating on the stock in a report on Tuesday, July 2nd. Mizuho cut their target price on CVR Energy from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Monday. Scotiabank boosted their target price on CVR Energy from $24.00 to $25.00 and gave the company a “sector underperform” rating in a research note on Wednesday, July 31st. Tudor, Pickering, Holt & Co. cut CVR Energy from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. Finally, Tudor Pickering upgraded CVR Energy to a “strong sell” rating in a research note on Monday, September 9th. Four research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $26.50.

CVR Energy Trading Down 4.8 %

The company has a market cap of $2.35 billion, a P/E ratio of 3.56 and a beta of 1.49. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 1.51. The business has a 50 day moving average price of $24.87 and a 200-day moving average price of $28.72.

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

CVR Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were issued 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 was Monday, August 12th. CVR Energy’s payout ratio is presently 30.67%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Swiss National Bank increased its position in CVR Energy by 4.7% during the 4th quarter. Swiss National Bank now owns 69,400 shares of the oil and gas company’s stock worth $2,103,000 after buying an additional 3,100 shares during the period. Charles Schwab Investment Management Inc. increased its position in CVR Energy by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 554,792 shares of the oil and gas company’s stock worth $16,810,000 after buying an additional 11,614 shares during the period. Teacher Retirement System of Texas increased its position in CVR Energy by 119.8% during the 4th quarter. Teacher Retirement System of Texas now owns 23,831 shares of the oil and gas company’s stock worth $722,000 after buying an additional 12,991 shares during the period. Dimensional Fund Advisors LP increased its position in CVR Energy by 5.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,842,818 shares of the oil and gas company’s stock worth $55,839,000 after buying an additional 103,235 shares during the period. Finally, Principal Financial Group Inc. increased its position in CVR Energy by 0.8% during the 4th quarter. Principal Financial Group Inc. now owns 171,180 shares of the oil and gas company’s stock worth $5,187,000 after buying an additional 1,374 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.