CVR Energy (NYSE:CVI) Trading Down 7.1% – Here’s Why

CVR Energy Inc. (NYSE:CVI) shares fell 7.1% during trading on Monday . The company traded as low as $23.14 and last traded at $22.7980. 97,503 shares were traded during mid-day trading, a decline of 93% from the average session volume of 1,430,734 shares. The stock had previously closed at $24.54.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group raised their target price on shares of CVR Energy from $19.00 to $25.00 and gave the company a “sell” rating in a research note on Wednesday, October 22nd. Weiss Ratings restated a “hold (c)” rating on shares of CVR Energy in a research note on Monday, December 29th. Wall Street Zen upgraded CVR Energy from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. UBS Group set a $37.00 price target on CVR Energy in a research note on Sunday, September 28th. Finally, Scotiabank reaffirmed an “underperform” rating on shares of CVR Energy in a research report on Thursday, October 9th. Two investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Strong Sell” and an average price target of $29.25.

CVR Energy Stock Performance

The stock’s fifty day moving average price is $28.85 and its two-hundred day moving average price is $31.09. The company has a market cap of $2.24 billion, a P/E ratio of 13.56 and a beta of 1.14. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.28 and a current ratio of 1.96.

CVR Energy (NYSE:CVI) last released its earnings results on Wednesday, October 29th. The oil and gas company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.20. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.82 billion. CVR Energy had a negative return on equity of 6.43% and a net margin of 2.26%.The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.50) earnings per share. As a group, equities analysts predict that CVR Energy Inc. will post -0.12 earnings per share for the current year.

Institutional Investors Weigh In On CVR Energy

Hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its holdings in shares of CVR Energy by 67.2% during the first quarter. Royal Bank of Canada now owns 14,904 shares of the oil and gas company’s stock worth $289,000 after purchasing an additional 5,992 shares during the period. AQR Capital Management LLC acquired a new position in CVR Energy during the 1st quarter worth about $611,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of CVR Energy by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,301 shares of the oil and gas company’s stock valued at $394,000 after buying an additional 858 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of CVR Energy by 14.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 496,650 shares of the oil and gas company’s stock valued at $9,635,000 after buying an additional 63,909 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of CVR Energy in the second quarter valued at about $248,000. 98.88% of the stock is currently owned by institutional investors and hedge funds.

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.