CVR Energy, Inc. (NYSE:CVI) Sees Large Growth in Short Interest

CVR Energy, Inc. (NYSE:CVI) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 5,340,000 shares, an increase of 8.8% from the August 31st total of 4,910,000 shares. Currently, 5.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,210,000 shares, the short-interest ratio is presently 4.4 days.

CVR Energy Stock Up 2.0 %

CVI stock traded up $0.47 during mid-day trading on Tuesday, reaching $23.50. 1,077,094 shares of the company traded hands, compared to its average volume of 1,047,747. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 1.51. The firm’s 50 day moving average price is $24.59 and its 200 day moving average price is $28.08. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 3.60 and a beta of 1.49. CVR Energy has a fifty-two week low of $21.05 and a fifty-two week high of $38.07.

CVR Energy (NYSE:CVI) last released its quarterly earnings results on Monday, July 29th. The oil and gas company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.39. The business had revenue of $1.97 billion during 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%. CVR Energy’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.64 EPS. As a group, equities research analysts predict that CVR Energy will post 0.5 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. Investors of record on Monday, August 12th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 8.51%. The ex-dividend date was Monday, August 12th. CVR Energy’s dividend payout ratio (DPR) is presently 30.67%.

Institutional Trading of CVR Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Jones Financial Companies Lllp bought a new stake in shares of CVR Energy during the 4th quarter worth $33,000. Headlands Technologies LLC increased its position in CVR Energy by 820.5% in the second 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 last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of CVR Energy in the first quarter valued at $71,000. Covestor Ltd raised its stake in shares of CVR Energy by 45,560.0% in the first quarter. Covestor Ltd now owns 2,283 shares of the oil and gas company’s stock valued at $81,000 after buying an additional 2,278 shares during the period. Finally, Scarborough Advisors LLC purchased a new position in shares of CVR Energy during the 4th quarter valued at $89,000. 98.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on CVI. StockNews.com cut CVR Energy from a “buy” rating to a “hold” rating in a report on Sunday, June 16th. Tudor, Pickering, Holt & Co. lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Mizuho dropped their target price on shares of CVR Energy from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. JPMorgan Chase & Co. reduced their price target on shares of CVR Energy from $30.00 to $26.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 2nd. Finally, Scotiabank boosted their price objective on shares of CVR Energy from $24.00 to $25.00 and gave the company a “sector underperform” rating in a research report on Wednesday, July 31st. Four equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $26.50.

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.