CVR Energy (NYSE:CVI) Trading 6.7% Higher – What’s Next?

CVR Energy Inc. (NYSE:CVI) rose 6.7% on Wednesday . The stock traded as high as $27.57 and last traded at $27.4410. Approximately 456,221 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 1,369,967 shares. The stock had previously closed at $25.72.

Analyst Upgrades and Downgrades

CVI has been the topic of a number of recent research reports. Weiss Ratings cut CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a report on Friday, February 20th. Wall Street Zen lowered CVR Energy from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. One investment analyst has rated the stock with a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Strong Sell” and an average target price of $29.25.

CVR Energy Price Performance

The firm has a market capitalization of $2.75 billion, a PE ratio of 104.93 and a beta of 1.12. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.79 and a quick ratio of 1.13. The business’s 50 day moving average is $23.73 and its two-hundred day moving average is $30.12.

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

CVR Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Monday, March 2nd were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.48 annualized dividend and a yield of 5.4%.

Insider Buying and Selling

In other CVR Energy news, major shareholder Carl C. Icahn acquired 275,012 shares of the stock in a transaction dated Tuesday, February 24th. The stock was purchased at an average cost of $21.41 per share, for a total transaction of $5,888,006.92. Following the acquisition, the insider owned 71,201,875 shares in the company, valued at $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 this link. Insiders have purchased 783,404 shares of company stock worth $16,445,044 in the last quarter. 0.01% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada lifted its stake in shares of CVR Energy by 67.2% in the 1st quarter. Royal Bank of Canada now owns 14,904 shares of the oil and gas company’s stock valued at $289,000 after acquiring an additional 5,992 shares during the last quarter. AQR Capital Management LLC bought a new position in CVR Energy during the 1st quarter worth approximately $611,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in CVR Energy by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,301 shares of the oil and gas company’s stock worth $394,000 after purchasing an additional 858 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of CVR Energy by 14.8% during the first quarter. Goldman Sachs Group Inc. now owns 496,650 shares of the oil and gas company’s stock valued at $9,635,000 after purchasing an additional 63,909 shares during the period. Finally, Bank of Montreal Can boosted its stake in shares of CVR Energy by 9.2% during the second quarter. Bank of Montreal Can now owns 11,147 shares of the oil and gas company’s stock valued at $299,000 after purchasing an additional 941 shares during the period. 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.