CVR Energy (NYSE:CVI) Releases Earnings Results, Beats Estimates By $0.08 EPS

CVR Energy (NYSE:CVI) issued its earnings results on Wednesday. The oil and gas company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.26 by $0.08, FiscalAI reports. The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.22 billion. CVR Energy had a negative return on equity of 22.36% and a negative net margin of 0.56%.

CVR Energy Price Performance

Shares of NYSE:CVI traded up $1.06 on Wednesday, hitting $34.80. The stock had a trading volume of 992,962 shares, compared to its average volume of 1,183,804. The firm’s 50 day moving average price is $31.33 and its 200-day moving average price is $29.24. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.89 and a current ratio of 1.44. CVR Energy has a twelve month low of $19.62 and a twelve month high of $41.67. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of -80.92 and a beta of 0.83.

Hedge Funds Weigh In On CVR Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of CVR Energy during the third quarter worth approximately $50,000. Aster Capital Management DIFC Ltd acquired a new position in shares of CVR Energy in the 4th quarter worth approximately $40,000. Raymond James Financial Inc. bought a new stake in CVR Energy during the 2nd quarter worth approximately $53,000. BNP Paribas Financial Markets grew its position in CVR Energy by 48.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,633 shares of the oil and gas company’s stock worth $98,000 after acquiring an additional 1,178 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in CVR Energy during the 2nd quarter valued at $114,000. 98.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of CVR Energy in a report on Friday, April 10th. They issued a “sell” rating and a $30.00 price target on the stock. Tudor Pickering downgraded shares of CVR Energy from a “hold” rating to a “sell” rating in a report on Thursday, June 4th. UBS Group reiterated a “neutral” rating and set a $35.00 target price on shares of CVR Energy in a research report on Monday, June 29th. Zacks Research cut shares of CVR Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, July 6th. Finally, Scotiabank raised their price target on shares of CVR Energy from $25.00 to $28.00 and gave the stock a “sector underperform” rating in a research note on Wednesday, April 22nd. Two analysts have rated the stock with a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Strong Sell” and an average price target of $30.25.

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.