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

CVR Energy (NYSE:CVI) released its quarterly earnings results on Wednesday. The oil and gas company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08, FiscalAI reports. CVR Energy had a negative net margin of 0.56% and a negative return on equity of 22.36%. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.22 billion.

CVR Energy Stock Performance

CVI stock traded up $1.06 on Wednesday, reaching $34.80. 992,962 shares of the company were exchanged, compared to its average volume of 1,183,804. The firm has a market capitalization of $3.50 billion, a PE ratio of -80.92 and a beta of 0.83. CVR Energy has a 12 month low of $19.62 and a 12 month high of $41.67. The stock’s fifty 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 current ratio of 1.44 and a quick ratio of 0.89.

Institutional Trading of CVR Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP acquired a new position in shares of CVR Energy during the third quarter valued at about $50,000. Aster Capital Management DIFC Ltd acquired a new stake in CVR Energy during the fourth quarter worth about $40,000. Raymond James Financial Inc. acquired a new stake in CVR Energy during the second quarter worth about $53,000. BNP Paribas Financial Markets increased its stake in CVR Energy by 48.0% during the second quarter. BNP Paribas Financial Markets now owns 3,633 shares of the oil and gas company’s stock valued at $98,000 after acquiring an additional 1,178 shares during the period. Finally, Quantbot Technologies LP bought a new position in CVR Energy during the second quarter valued at about $114,000. 98.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on CVI. Weiss Ratings downgraded shares of CVR Energy from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Friday, May 15th. Zacks Research cut CVR Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, July 6th. Mizuho decreased their price target on CVR Energy from $35.00 to $28.00 and set an “underperform” rating for the company in a research note on Tuesday, July 7th. UBS Group reissued a “neutral” rating and issued a $35.00 price objective on shares of CVR Energy in a research note on Monday, June 29th. Finally, Scotiabank boosted their target price on CVR Energy from $25.00 to $28.00 and gave the stock a “sector underperform” rating in a report on Wednesday, April 22nd. Two investment analysts have rated the stock with a Hold rating and six have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Strong Sell” and a consensus target price of $30.25.

CVR Energy Company Profile

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.