CVR Energy (NYSE:CVI) Trading 7.2% Higher – Should You Buy?

CVR Energy Inc. (NYSE:CVI)’s stock price rose 7.2% during mid-day trading on Tuesday . The company traded as high as $34.87 and last traded at $34.78. Approximately 469,030 shares were traded during trading, a decline of 68% from the average daily volume of 1,450,294 shares. The stock had previously closed at $32.45.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Weiss Ratings cut CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research note on Friday, February 20th. Raymond James Financial upgraded shares of CVR Energy from an “underperform” rating to a “market perform” rating in a report on Wednesday. The Goldman Sachs Group boosted their price objective on shares of CVR Energy from $22.00 to $25.00 and gave the stock a “sell” rating in a research report on Thursday, March 12th. Mizuho increased their target price on shares of CVR Energy from $28.00 to $32.00 and gave the stock an “underperform” rating in a report on Tuesday, March 17th. Finally, Wall Street Zen raised shares of CVR Energy from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Two analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Strong Sell” and an average price target of $30.00.

CVR Energy Stock Up 5.0%

The firm has a fifty day moving average of $25.25 and a 200-day moving average of $30.18. The company has a quick ratio of 1.13, a current ratio of 1.79 and a debt-to-equity ratio of 1.95. The firm has a market cap of $3.45 billion, a P/E ratio of 132.06 and a beta of 1.12.

CVR Energy (NYSE:CVI) last posted its quarterly earnings results on Wednesday, February 18th. The oil and gas company reported ($0.80) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.04. CVR Energy had a negative return on equity of 14.31% and a net margin of 0.38%.The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period last year, the company earned ($0.13) earnings per share. The business’s revenue was down 7.0% compared to the same quarter last year. On average, equities research analysts anticipate that CVR Energy Inc. will post -0.12 earnings per share for the current year.

CVR Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Monday, March 2nd were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Monday, March 2nd.

Insider Transactions at CVR Energy

In other news, major shareholder Carl C. Icahn purchased 275,012 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were purchased at an average cost of $21.41 per share, with a total value of $5,888,006.92. Following the completion of the transaction, the insider owned 71,201,875 shares of the company’s stock, valued at $1,524,432,143.75. The trade was a 0.39% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired 783,404 shares of company stock worth $16,445,044 over the last 90 days. Corporate insiders own 0.01% of the company’s stock.

Institutional Investors Weigh In On CVR Energy

Institutional investors and hedge funds have recently modified their holdings of the company. Illinois Municipal Retirement Fund lifted its stake in CVR Energy by 2.2% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 17,081 shares of the oil and gas company’s stock valued at $623,000 after purchasing an additional 363 shares during the last quarter. Victory Capital Management Inc. increased its position in CVR Energy by 2.9% during the third quarter. Victory Capital Management Inc. now owns 21,329 shares of the oil and gas company’s stock worth $778,000 after buying an additional 596 shares during the last quarter. Congress Asset Management Co. raised its stake in CVR Energy by 0.7% in the third quarter. Congress Asset Management Co. now owns 85,083 shares of the oil and gas company’s stock valued at $3,104,000 after buying an additional 604 shares during the period. Alliancebernstein L.P. lifted its position in shares of CVR Energy by 1.5% in the third quarter. Alliancebernstein L.P. now owns 48,943 shares of the oil and gas company’s stock valued at $1,785,000 after buying an additional 700 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of CVR Energy by 5.6% in the fourth quarter. NewEdge Advisors LLC now owns 13,394 shares of the oil and gas company’s stock valued at $341,000 after buying an additional 709 shares during the last quarter. 98.88% of the stock is owned by institutional investors.

About CVR Energy

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.