CVR Energy (NYSE:CVI) Shares Down 5.2% – Here’s Why

CVR Energy Inc. (NYSE:CVI) shares traded down 5.2% during trading on Monday . The stock traded as low as $33.74 and last traded at $33.7550. Approximately 316,039 shares were traded during trading, a decline of 73% from the average session volume of 1,187,650 shares. The stock had previously closed at $35.62.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CVI shares. Tudor Pickering downgraded CVR Energy from a “hold” rating to a “sell” rating in a research report on Thursday, June 4th. The Goldman Sachs Group started coverage on CVR Energy in a report on Friday, April 10th. They issued a “sell” rating and a $30.00 price objective for the company. Wall Street Zen upgraded CVR Energy from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings cut CVR Energy from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Friday, May 15th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $35.00 price target on shares of CVR Energy in a research note on Monday, June 29th. Two research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat.com, CVR Energy presently has a consensus rating of “Strong Sell” and a consensus target price of $30.50.

CVR Energy Stock Down 1.4%

The firm has a 50 day simple moving average of $31.59 and a two-hundred day simple moving average of $29.66. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 2.38. The stock has a market capitalization of $3.30 billion, a P/E ratio of 48.31 and a beta of 0.83.

CVR Energy (NYSE:CVI) last issued its quarterly earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.08. CVR Energy had a negative return on equity of 15.21% and a net margin of 0.81%.The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same quarter last year, the company posted ($0.23) EPS. The company’s revenue for the quarter was up 55.5% compared to the same quarter last year. On average, equities research analysts expect that CVR Energy Inc. will post 0.16 earnings per share for the current year.

CVR Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 10th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.40 annualized dividend and a yield of 1.2%. CVR Energy’s payout ratio is presently 58.82%.

Institutional Investors Weigh In On CVR Energy

Several hedge funds and other institutional investors have recently made changes to their positions in CVI. Vanguard Group Inc. lifted its stake in CVR Energy by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 3,705,809 shares of the oil and gas company’s stock valued at $94,276,000 after purchasing an additional 106,906 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of CVR Energy by 16.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,908,062 shares of the oil and gas company’s stock worth $64,220,000 after buying an additional 265,013 shares during the last quarter. State Street Corp increased its holdings in shares of CVR Energy by 2.6% during the fourth quarter. State Street Corp now owns 1,779,701 shares of the oil and gas company’s stock worth $45,276,000 after buying an additional 45,603 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of CVR Energy by 33.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,364,250 shares of the oil and gas company’s stock worth $49,768,000 after buying an additional 345,758 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of 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 acquiring an additional 280,300 shares during the last quarter. 98.88% of the stock is owned by institutional investors.

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.