CVR Energy (NYSE:CVI) Trading Up 5.2% – Still a Buy?

CVR Energy Inc. (NYSE:CVI)’s stock price traded up 5.2% during mid-day trading on Tuesday . The stock traded as high as $51.23 and last traded at $51.1550. Approximately 55,264 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 1,159,125 shares. The stock had previously closed at $48.63.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CVI. UBS Group reaffirmed a “neutral” rating and set a $35.00 target price on shares of CVR Energy in a research report on Monday, June 29th. Wall Street Zen raised CVR Energy from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Zacks Research upgraded CVR Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Mizuho lifted their price objective on CVR Energy from $28.00 to $29.00 and gave the company an “underperform” rating in a report on Tuesday, August 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CVR Energy in a research note on Wednesday, August 12th. Three analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Strong Sell” and an average target price of $30.50.

CVR Energy Stock Up 1.8%

The business’s 50 day moving average is $38.01 and its 200 day moving average is $33.46. The company has a market capitalization of $5.34 billion, a price-to-earnings ratio of 78.07 and a beta of 0.85. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.92 and a current ratio of 1.42.

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, beating the consensus estimate of $0.26 by $0.08. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.22 billion. CVR Energy had a negative return on equity of 15.21% and a net margin of 0.81%.The company’s quarterly revenue was up 55.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.23) EPS. Sell-side analysts anticipate that CVR Energy Inc. will post 1.56 earnings per share for the current year.

CVR Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 10th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.8%. CVR Energy’s dividend payout ratio is presently 58.82%.

Hedge Funds Weigh In On CVR Energy

Large investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP lifted its position in CVR Energy by 136.0% in the fourth quarter. GSA Capital Partners LLP now owns 51,991 shares of the oil and gas company’s stock valued at $1,323,000 after buying an additional 29,963 shares during the last quarter. PDT Partners LLC acquired a new stake in shares of CVR Energy during the second quarter valued at about $14,502,000. NFJ Investment Group LLC acquired a new stake in shares of CVR Energy during the second quarter valued at about $2,198,000. Legal & General Group Plc purchased a new stake in shares of CVR Energy in the 2nd quarter valued at approximately $1,878,000. Finally, BlackRock Inc. purchased a new stake in shares of CVR Energy in the 2nd quarter valued at approximately $143,262,000. 98.88% of the stock is currently owned by institutional investors and hedge funds.

About CVR Energy

CVR Energy, Inc (NYSE:CVI) is a diversified energy company that operates through its petroleum refining and nitrogen fertilizer businesses. The company’s operations are primarily located in the Mid-Continent region of the United States.

Through its petroleum segment, CVR Energy owns and operates refineries in Coffeyville, Kansas, and Wynnewood, Oklahoma. These facilities process crude oil into transportation fuels and other refined products, including gasoline, diesel fuel, jet fuel, and asphalt.