CVR Energy (NYSE:CVI) Trading Down 5.4% on Disappointing Earnings

Shares of CVR Energy, Inc. (NYSE:CVI) fell 5.4% during trading on Tuesday following a dissappointing earnings announcement. The stock traded as low as $31.28 and last traded at $31.32. 294,940 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 876,181 shares. The stock had previously closed at $33.12.

The oil and gas company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.09). CVR Energy had a return on equity of 40.24% and a net margin of 7.44%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the prior year, the firm posted $1.44 earnings per share. The firm’s revenue for the quarter was down 18.5% on a year-over-year basis.

CVR Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, May 10th. This represents a $2.00 annualized dividend and a dividend yield of 6.81%. CVR Energy’s dividend payout ratio (DPR) is 26.14%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Scotiabank increased their price target on CVR Energy from $25.00 to $29.00 and gave the company a “sector underperform” rating in a report on Thursday, April 11th. StockNews.com lowered CVR Energy from a “buy” rating to a “hold” rating in a report on Friday, February 23rd.

Hedge Funds Weigh In On CVR Energy

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of CVR Energy by 12.1% during the 4th quarter. Vanguard Group Inc. now owns 3,934,944 shares of the oil and gas company’s stock worth $119,229,000 after buying an additional 424,348 shares in the last quarter. Norges Bank purchased a new stake in shares of CVR Energy during the 4th quarter worth $11,567,000. Jacobs Levy Equity Management Inc. lifted its stake in shares of CVR Energy by 57.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 924,541 shares of the oil and gas company’s stock worth $31,462,000 after purchasing an additional 338,393 shares during the last quarter. Tudor Investment Corp Et Al purchased a new stake in shares of CVR Energy during the 3rd quarter worth $8,875,000. Finally, Premier Fund Managers Ltd purchased a new stake in CVR Energy in the third quarter valued at about $5,838,000. Institutional investors own 98.88% of the company’s stock.

CVR Energy Stock Performance

The business has a 50 day simple moving average of $34.35 and a 200 day simple moving average of $32.80. The company has a quick ratio of 0.94, a current ratio of 1.30 and a debt-to-equity ratio of 1.52. The company has a market capitalization of $2.95 billion, a PE ratio of 3.84 and a beta of 1.57.

About CVR Energy

CVR Energy, Inc, together with its subsidiaries, engages in the petroleum refining and marketing, and nitrogen fertilizer manufacturing activities in the United States. It operates in two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment refines and supplies gasoline, crude oil, distillate, diesel fuel, and other refined products.