CVR Energy (NYSE:CVI) Shares Gap Down – Time to Sell?

CVR Energy Inc. (NYSE:CVI)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $33.03, but opened at $30.31. CVR Energy shares last traded at $31.4010, with a volume of 191,232 shares.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Raymond James Financial raised shares of CVR Energy from an “underperform” rating to a “market perform” rating in a research note on Wednesday, March 25th. The Goldman Sachs Group raised their price target on shares of CVR Energy from $22.00 to $25.00 and gave the stock a “sell” rating in a research note on Thursday, March 12th. Weiss Ratings cut shares of CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research note on Friday, February 20th. Wall Street Zen cut shares of CVR Energy from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Scotiabank raised shares of CVR Energy to a “strong sell” rating in a research note on Friday, March 27th. Two analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Strong Sell” and an average target price of $30.00.

CVR Energy Stock Performance

The firm has a market capitalization of $3.19 billion, a PE ratio of 122.39 and a beta of 0.94. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.13 and a current ratio of 1.79. The company’s fifty day moving average price is $26.96 and its two-hundred day moving average price is $30.22.

CVR Energy (NYSE:CVI) last announced its quarterly earnings data on Wednesday, February 18th. The oil and gas company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($0.84) by $0.04. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.70 billion. CVR Energy had a net margin of 0.38% and a negative return on equity of 14.31%. The company’s revenue was down 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.13) EPS. As a group, equities analysts expect that CVR Energy Inc. will post -0.12 earnings per share for the current year.

CVR Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Monday, March 2nd were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 4.7%. The ex-dividend date was Monday, March 2nd. CVR Energy’s dividend payout ratio is presently 569.23%.

Insider Buying and Selling at CVR Energy

In related news, major shareholder Carl C. Icahn acquired 275,012 shares of the business’s stock in a transaction dated Tuesday, February 24th. The shares were acquired at an average cost of $21.41 per share, for a total transaction of $5,888,006.92. Following the acquisition, the insider directly owned 71,201,875 shares in the company, valued at approximately $1,524,432,143.75. The trade was a 0.39% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have bought 783,404 shares of company stock worth $16,445,044. Corporate insiders own 0.01% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of CVR Energy by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 3,705,809 shares of the oil and gas company’s stock worth $94,276,000 after acquiring an additional 106,906 shares during the period. State Street Corp lifted its holdings in shares of CVR Energy by 2.6% during the 4th quarter. State Street Corp now owns 1,779,701 shares of the oil and gas company’s stock worth $45,276,000 after acquiring an additional 45,603 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of CVR Energy by 33.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,364,250 shares of the oil and gas company’s stock worth $49,768,000 after acquiring an additional 345,758 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of CVR Energy by 31.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,167,184 shares of the oil and gas company’s stock worth $29,693,000 after acquiring an additional 280,300 shares during the period. Finally, UBS Group AG lifted its holdings in shares of CVR Energy by 32.2% during the 4th quarter. UBS Group AG now owns 850,042 shares of the oil and gas company’s stock worth $21,625,000 after acquiring an additional 206,861 shares during the period. 98.88% of the stock is currently owned by hedge funds and other institutional investors.

CVR Energy Company Profile

CVR Energy, Inc is an independent downstream energy company engaged primarily in petroleum refining and nitrogen fertilizer production in the United States. Headquartered in Sugar Land, Texas, CVR Energy operates through two reportable segments—Petroleum Products and Nitrogen Fertilizers—leveraging its refining expertise and distribution network to serve both wholesale and retail markets across key regions in the U.S.

In its Petroleum Products segment, the company owns and operates the Coffeyville, Kansas refinery, which has the capability to process various grades of crude oil into gasoline, diesel, jet fuel and other refined products.