CVR Energy (NYSE:CVI) Shares Gap Up – Time to Buy?

CVR Energy Inc. (NYSE:CVI) shares gapped up before the market opened on Monday . The stock had previously closed at $41.76, but opened at $43.47. CVR Energy shares last traded at $41.20, with a volume of 75,816 shares changing hands.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CVI. UBS Group restated a “neutral” rating and issued a $35.00 price objective on shares of CVR Energy in a research report on Monday, June 29th. Tudor Pickering lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Thursday, June 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of CVR Energy in a research note on Wednesday, August 12th. Zacks Research upgraded shares of CVR Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen raised shares of CVR Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Three investment analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Strong Sell” and an average price target of $30.50.

CVR Energy Trading Down 1.9%

The stock has a market capitalization of $4.12 billion, a P/E ratio of 60.22 and a beta of 0.83. The stock’s fifty day moving average price is $33.19 and its two-hundred day moving average price is $31.26. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 2.38.

CVR Energy (NYSE:CVI) last posted its quarterly earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the previous year, the firm posted ($0.23) earnings per share. The firm’s revenue for the quarter was up 55.5% on a year-over-year basis. Equities research analysts forecast that CVR Energy Inc. will post 0.79 EPS for the current year.

CVR Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 10th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.0%. The ex-dividend date was Monday, August 10th. CVR Energy’s dividend payout ratio (DPR) is presently 58.82%.

Hedge Funds Weigh In On CVR Energy

A number of large investors have recently bought and sold shares of CVI. BlackRock Inc. purchased a new stake in shares of CVR Energy during the second quarter valued at approximately $143,262,000. California State Teachers Retirement System increased its stake in shares of CVR Energy by 2,693.8% in the second quarter. California State Teachers Retirement System now owns 937,241 shares of the oil and gas company’s stock worth $25,812,000 after buying an additional 903,694 shares during the period. BNP Paribas Financial Markets increased its stake in shares of CVR Energy by 21,261.8% in the third quarter. BNP Paribas Financial Markets now owns 776,073 shares of the oil and gas company’s stock worth $28,311,000 after buying an additional 772,440 shares during the period. PDT Partners LLC bought a new stake in CVR Energy during the 2nd quarter valued at $14,502,000. Finally, Squarepoint Ops LLC bought a new stake in CVR Energy during the 4th quarter valued at $9,616,000. 98.88% of the stock is owned by hedge funds and other 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.