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 $18.32, but opened at $18.95. CVR Energy shares last traded at $19.02, with a volume of 175,908 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Scotiabank cut their price target on shares of CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating on the stock in a report on Thursday, October 10th. Tudor, Pickering, Holt & Co. lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. StockNews.com raised shares of CVR Energy from a “sell” rating to a “hold” rating in a research note on Friday. JPMorgan Chase & Co. dropped their price objective on CVR Energy from $26.00 to $23.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 2nd. Finally, Mizuho decreased their target price on CVR Energy from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Five equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $24.00.

CVR Energy Stock Performance

The business has a 50-day moving average price of $20.76 and a 200-day moving average price of $23.92. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 1.84. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 27.22 and a beta of 1.57.

CVR Energy (NYSE:CVI) last issued 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 business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.91 billion. CVR Energy had a return on equity of 2.88% and a net margin of 0.89%. CVR Energy’s revenue was down 27.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.89 EPS. As a group, sell-side analysts forecast that CVR Energy, Inc. will post -0.12 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Headlands Technologies LLC increased its holdings in CVR Energy by 820.5% in the 2nd quarter. Headlands Technologies LLC now owns 1,482 shares of the oil and gas company’s stock worth $40,000 after buying an additional 1,321 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of CVR Energy in the 3rd quarter valued at $43,000. Future Financial Wealth Managment LLC purchased a new stake in shares of CVR Energy in the 3rd quarter valued at $46,000. Larson Financial Group LLC increased its stake in shares of CVR Energy by 640.9% in the third quarter. Larson Financial Group LLC now owns 3,119 shares of the oil and gas company’s stock worth $72,000 after acquiring an additional 2,698 shares during the period. Finally, Quest Partners LLC raised its holdings in shares of CVR Energy by 47.3% during the second quarter. Quest Partners LLC now owns 3,485 shares of the oil and gas company’s stock worth $93,000 after purchasing an additional 1,119 shares during the last quarter. 98.88% of the stock is currently owned by hedge funds and other institutional investors.

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.