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

Shares of CVR Energy, Inc. (NYSE:CVI) traded down 5.4% on Tuesday following a dissappointing earnings announcement. The company traded as low as $31.28 and last traded at $31.32. 294,940 shares were traded 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). The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.96 billion. CVR Energy had a return on equity of 40.24% and a net margin of 7.44%. The business’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 EPS.

CVR Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 6.81%. The ex-dividend date is Friday, May 10th. CVR Energy’s dividend payout ratio is presently 26.14%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CVI shares. Scotiabank boosted their price target on shares of 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 cut shares of CVR Energy from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd.

Institutional Investors Weigh In On CVR Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp purchased a new position in CVR Energy in the 4th quarter worth about $33,000. Future Financial Wealth Managment LLC bought a new stake in shares of CVR Energy in the 1st quarter valued at approximately $71,000. Scarborough Advisors LLC bought a new stake in shares of CVR Energy in the 4th quarter valued at approximately $89,000. TFO Wealth Partners LLC grew its stake in shares of CVR Energy by 246,550.0% in the 4th quarter. TFO Wealth Partners LLC now owns 4,933 shares of the oil and gas company’s stock valued at $149,000 after buying an additional 4,931 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in CVR Energy by 54.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,704 shares of the oil and gas company’s stock worth $194,000 after purchasing an additional 2,008 shares during the last quarter. 98.88% of the stock is currently owned by institutional investors.

CVR Energy Trading Down 3.4 %

The company has a fifty day moving average of $34.35 and a two-hundred day moving average of $32.80. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 1.52. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 3.84 and a beta of 1.57.

CVR Energy Company Profile

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.