CVR Energy (NYSE:CVI) Shares Gap Up – Here’s Why

CVR Energy Inc. (NYSE:CVI) shares gapped up prior to trading on Monday . The stock had previously closed at $41.76, but opened at $43.47. CVR Energy shares last traded at $41.20, with a volume of 75,816 shares changing hands.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Mizuho lifted their price target on CVR Energy from $28.00 to $29.00 and gave the stock an “underperform” rating in a report on Tuesday, August 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CVR Energy in a report on Wednesday, August 12th. UBS Group reiterated a “neutral” rating and set a $35.00 price objective on shares of CVR Energy in a research report on Monday, June 29th. Tudor Pickering downgraded CVR Energy from a “hold” rating to a “sell” rating in a report on Thursday, June 4th. Finally, Wall Street Zen raised shares of CVR Energy from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Three investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Strong Sell” and an average target price of $30.50.

CVR Energy Stock Performance

The stock has a market cap of $4.31 billion, a P/E ratio of 63.00 and a beta of 0.85. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 2.38. The stock has a 50 day simple moving average of $33.79 and a 200 day simple moving average of $31.51.

CVR Energy (NYSE:CVI) last released its earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. CVR Energy had a negative return on equity of 15.21% and a net margin of 0.81%.The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the prior year, the company posted ($0.23) EPS. The company’s revenue was up 55.5% compared to the same quarter last year. On average, equities analysts expect that CVR Energy Inc. will post 0.79 earnings per share for the current year.

CVR Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 10th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.40 annualized dividend and a yield of 0.9%. CVR Energy’s dividend payout ratio is currently 58.82%.

Hedge Funds Weigh In On CVR Energy

Several hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its position in shares of CVR Energy by 44.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,102 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 339 shares in the last quarter. PNC Financial Services Group Inc. raised its position in CVR Energy by 51.5% during the first quarter. PNC Financial Services Group Inc. now owns 1,142 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 388 shares in the last quarter. Victory Capital Management Inc. lifted its stake in CVR Energy by 2.9% during the third quarter. Victory Capital Management Inc. now owns 21,329 shares of the oil and gas company’s stock worth $778,000 after purchasing an additional 596 shares during the last quarter. Illinois Municipal Retirement Fund lifted its stake in CVR Energy by 3.9% during the fourth quarter. Illinois Municipal Retirement Fund now owns 17,741 shares of the oil and gas company’s stock worth $451,000 after purchasing an additional 660 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of CVR Energy by 1.5% in the 3rd quarter. Alliancebernstein L.P. now owns 48,943 shares of the oil and gas company’s stock valued at $1,785,000 after purchasing an additional 700 shares in the last quarter. 98.88% of the stock is owned by institutional investors.

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.