CVR Energy (NYSE:CVI) Trading Down 7.3% – Time to Sell?

CVR Energy Inc. (NYSE:CVI)’s share price fell 7.3% during trading on Wednesday . The stock traded as low as $23.11 and last traded at $22.85. 1,196,249 shares changed hands during mid-day trading, a decline of 12% from the average session volume of 1,362,980 shares. The stock had previously closed at $24.64.

Wall Street Analyst Weigh In

CVI has been the subject of a number of recent research reports. UBS Group set a $37.00 price objective on shares of CVR Energy in a research note on Sunday, September 28th. Mizuho reiterated an “underperform” rating and issued a $29.00 price target (up from $27.00) on shares of CVR Energy in a research report on Monday, September 15th. The Goldman Sachs Group increased their price objective on CVR Energy from $19.00 to $25.00 and gave the stock a “sell” rating in a research note on Wednesday, October 22nd. Wall Street Zen upgraded shares of CVR Energy from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Zacks Research raised shares of CVR Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 16th. Two research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Strong Sell” and a consensus price target of $29.25.

CVR Energy Stock Down 7.5%

The firm has a 50 day moving average price of $32.29 and a 200-day moving average price of $31.53. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 13.91 and a beta of 1.14. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.96 and a quick ratio of 1.28.

CVR Energy (NYSE:CVI) last released its earnings results on Tuesday, September 2nd. The oil and gas company reported ($0.23) earnings per share (EPS) for the quarter. CVR Energy had a net margin of 2.26% and a negative return on equity of 6.43%. The business had revenue of $1.76 billion for the quarter. As a group, equities analysts predict that CVR Energy Inc. will post -0.12 EPS for the current fiscal year.

Institutional Trading of CVR Energy

Several institutional investors and hedge funds have recently made changes to their positions in CVI. Matrix Trust Co bought a new position in shares of CVR Energy in the 2nd quarter worth $26,000. Quarry LP acquired a new position in CVR Energy in the third quarter valued at about $50,000. Raymond James Financial Inc. bought a new position in CVR Energy during the second quarter worth about $53,000. BNP Paribas Financial Markets boosted its holdings in CVR Energy by 48.0% during the second quarter. BNP Paribas Financial Markets now owns 3,633 shares of the oil and gas company’s stock worth $98,000 after buying an additional 1,178 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of CVR Energy in the 2nd quarter valued at about $114,000. Institutional investors own 98.88% of the company’s stock.

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.