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

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 trading hands.

Analyst Ratings Changes

Several research firms recently weighed in on CVI. 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. JPMorgan Chase & Co. dropped their price target on shares of CVR Energy from $26.00 to $23.00 and set an “underweight” rating for the company in a research report on Wednesday, October 2nd. Tudor Pickering raised shares of CVR Energy to a “strong sell” rating in a research report on Monday, September 9th. Mizuho dropped their price target 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. Finally, UBS Group dropped their price target on shares of CVR Energy from $33.75 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Five equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to data from MarketBeat, CVR Energy has a consensus rating of “Reduce” and a consensus price target of $24.75.

CVR Energy Trading Up 11.7 %

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

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

Institutional Trading of CVR Energy

Several hedge funds have recently modified their holdings of the company. SIR Capital Management L.P. bought a new stake in shares of CVR Energy during the second quarter valued at approximately $17,907,000. American Century Companies Inc. grew its stake in shares of CVR Energy by 60.3% during the second quarter. American Century Companies Inc. now owns 407,819 shares of the oil and gas company’s stock valued at $10,917,000 after purchasing an additional 153,396 shares during the last quarter. Denali Advisors LLC grew its stake in shares of CVR Energy by 323.6% during the second quarter. Denali Advisors LLC now owns 159,162 shares of the oil and gas company’s stock valued at $4,261,000 after purchasing an additional 121,590 shares during the last quarter. Millennium Management LLC bought a new stake in shares of CVR Energy during the second quarter valued at approximately $2,889,000. Finally, Advisors Asset Management Inc. grew its stake in shares of CVR Energy by 37.2% during the third quarter. Advisors Asset Management Inc. now owns 352,075 shares of the oil and gas company’s stock valued at $8,108,000 after purchasing an additional 95,371 shares during the last quarter. Institutional investors and hedge funds own 98.88% of the company’s stock.

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.