CVR Energy (NYSE:CVI) Shares Up 5.2% – Here’s Why

CVR Energy Inc. (NYSE:CVI) shares were up 5.2% on Tuesday . The stock traded as high as $51.23 and last traded at $51.1550. Approximately 55,264 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 1,159,125 shares. The stock had previously closed at $48.63.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CVI shares. Wall Street Zen raised CVR Energy from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Weiss Ratings restated a “sell (d-)” rating on shares of CVR Energy in a report on Wednesday, August 12th. Mizuho raised their price objective on CVR Energy from $28.00 to $29.00 and gave the stock an “underperform” rating in a report on Tuesday, August 4th. UBS Group reaffirmed a “neutral” rating and issued a $35.00 price objective on shares of CVR Energy in a research note on Monday, June 29th. Finally, Zacks Research upgraded CVR Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Three equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Strong Sell” and a consensus target price of $30.50.

CVR Energy Stock Performance

The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 2.38. The firm has a market cap of $5.22 billion, a PE ratio of 76.23 and a beta of 0.85. The stock’s 50 day moving average price is $37.09 and its 200 day moving average price is $33.05.

CVR Energy (NYSE:CVI) last announced its quarterly earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.08. CVR Energy had a net margin of 0.81% and a negative return on equity of 15.21%. The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the prior year, the company earned ($0.23) EPS. The firm’s revenue was up 55.5% on a year-over-year basis. As a group, equities analysts forecast that CVR Energy Inc. will post 0.79 earnings per share for the current fiscal year.

CVR Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 10th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, August 10th. CVR Energy’s payout ratio is currently 58.82%.

Institutional Investors Weigh In On CVR Energy

Large investors have recently modified their holdings of the stock. Nykredit A S purchased a new stake in shares of CVR Energy during the 2nd quarter valued at about $29,000. EverSource Wealth Advisors LLC boosted its holdings in CVR Energy by 44.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,102 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 339 shares during the period. PNC Financial Services Group Inc. boosted its holdings in CVR Energy by 51.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,142 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 388 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in CVR Energy by 1,817.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,394 shares of the oil and gas company’s stock worth $86,000 after acquiring an additional 3,217 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new stake in CVR Energy in the second quarter valued at approximately $92,000. Institutional investors and hedge funds own 98.88% of the company’s stock.

CVR Energy Company Profile

CVR Energy, Inc (NYSE:CVI) is a diversified energy company that operates through its petroleum refining and nitrogen fertilizer businesses. The company’s operations are primarily located in the Mid-Continent region of the United States.

Through its petroleum segment, CVR Energy owns and operates refineries in Coffeyville, Kansas, and Wynnewood, Oklahoma. These facilities process crude oil into transportation fuels and other refined products, including gasoline, diesel fuel, jet fuel, and asphalt.