CVR Energy (NYSE:CVI) Shares Down 4% – Here’s What Happened

CVR Energy Inc. (NYSE:CVI) dropped 4% on Tuesday . The stock traded as low as $33.75 and last traded at $33.5560. Approximately 461,671 shares traded hands during trading, a decline of 68% from the average daily volume of 1,461,362 shares. The stock had previously closed at $34.94.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CVI. Raymond James Financial upgraded shares of CVR Energy from an “underperform” rating to a “market perform” rating in a research report on Wednesday, March 25th. Scotiabank upgraded shares of CVR Energy to a “strong sell” rating in a research note on Friday, March 27th. The Goldman Sachs Group lifted their target price on shares of CVR Energy from $22.00 to $25.00 and gave the company a “sell” rating in a report on Thursday, March 12th. Wall Street Zen upgraded shares of CVR Energy from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Finally, Weiss Ratings cut shares of CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a report on Friday, February 20th. Two investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Strong Sell” and a consensus price target of $30.00.

CVR Energy Stock Down 5.9%

The company has a current ratio of 1.79, a quick ratio of 1.13 and a debt-to-equity ratio of 1.95. The firm has a 50 day moving average price of $26.26 and a 200-day moving average price of $30.26. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 121.79 and a beta of 0.94.

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

CVR Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Monday, March 2nd were given 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 payout ratio is currently 569.23%.

Insider Transactions at CVR Energy

In related news, major shareholder Carl C. Icahn bought 275,012 shares of CVR Energy stock in a transaction that occurred on Tuesday, February 24th. The shares were purchased at an average price of $21.41 per share, with a total value of $5,888,006.92. Following the purchase, the insider owned 71,201,875 shares in the company, valued at $1,524,432,143.75. This represents a 0.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders purchased 783,404 shares of company stock valued at $16,445,044. 0.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CVR Energy

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of CVR Energy by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 3,705,809 shares of the oil and gas company’s stock valued at $94,276,000 after acquiring an additional 106,906 shares in the last quarter. State Street Corp increased its position in 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 purchasing an additional 45,603 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in CVR Energy by 33.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,364,250 shares of the oil and gas company’s stock valued at $49,768,000 after purchasing an additional 345,758 shares during the last quarter. Renaissance Technologies LLC raised its stake in CVR Energy by 31.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,167,184 shares of the oil and gas company’s stock valued at $29,693,000 after purchasing an additional 280,300 shares during the last quarter. Finally, UBS Group AG lifted its holdings in CVR Energy by 32.2% in the 4th quarter. UBS Group AG now owns 850,042 shares of the oil and gas company’s stock valued at $21,625,000 after purchasing an additional 206,861 shares in the last quarter. Hedge funds and other institutional investors own 98.88% of the company’s stock.

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.