CVR Energy Inc. (NYSE:CVI – Get Free Report) shares traded up 4.6% during mid-day trading on Tuesday. The company traded as high as $61.40 and last traded at $61.62. 94,856 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 1,145,664 shares. The stock had previously closed at $58.91.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on CVI. Zacks Research raised shares of CVR Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Mizuho upped their target price on CVR Energy from $29.00 to $52.00 and gave the company an “underperform” rating in a research report on Thursday, October 8th. The Goldman Sachs Group boosted their price target on CVR Energy from $36.00 to $50.00 and gave the company a “sell” rating in a research note on Friday. UBS Group lifted their price objective on shares of CVR Energy from $35.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, October 2nd. Finally, Weiss Ratings upgraded shares of CVR Energy from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday. Four investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $45.75.
Read Our Latest Research Report on CVR Energy
CVR Energy Price Performance
CVR Energy (NYSE:CVI – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the prior year, the company posted ($0.23) earnings per share. CVR Energy’s revenue was up 55.5% compared to the same quarter last year. On average, analysts expect that CVR Energy Inc. will post 1.56 earnings per share for the current year.
CVR Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 10th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, August 10th. CVR Energy’s dividend payout ratio is 58.82%.
Institutional Trading of CVR Energy
Several hedge funds have recently added to or reduced their stakes in CVI. Nykredit A S purchased a new position in CVR Energy in the second quarter valued at approximately $29,000. EverSource Wealth Advisors LLC increased its stake in shares of CVR Energy by 44.4% in the first quarter. EverSource Wealth Advisors LLC now owns 1,102 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 339 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in CVR Energy by 51.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,142 shares of the oil and gas company’s stock worth $38,000 after buying an additional 388 shares during the period. Farther Finance Advisors LLC grew its stake in CVR Energy by 197.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,153 shares of the oil and gas company’s stock valued at $59,000 after buying an additional 765 shares in the last quarter. Finally, CX Institutional lifted its position in shares of CVR Energy by 5,362.5% during the third quarter. CX Institutional now owns 1,311 shares of the oil and gas company’s stock worth $67,000 after acquiring an additional 1,287 shares in the last quarter. Institutional investors own 98.88% of the company’s stock.
About CVR Energy
CVR Energy, Inc is a diversified energy company engaged primarily in petroleum refining and nitrogen fertilizer production. Headquartered in Sugar Land, Texas, the company operates through subsidiaries that serve customers in the United States, with activities concentrated in the Midcontinent region.
Through its refining operations, CVR Energy processes crude oil into transportation fuels and other refined products, including gasoline, diesel fuel, jet fuel and asphalt. Its refineries are located in Coffeyville, Kansas, and Wynnewood, Oklahoma, and are supported by related logistics, storage and transportation assets.
CVR Energy also owns and operates nitrogen fertilizer facilities through CVR Partners, LP.
Featured Articles
- Five stocks we like better than CVR Energy
- Surgical Precision, Sustainable Returns: Johnson & Johnson Secures its Cash Flow Runway
- Tesla’s Robotaxi Lands in Paris—But Europe’s Real Fight Is Over Cheap EVs
- IonQ Fell 9% on a $1.3 Billion Deal—Is Wall Street Missing Something?
- JPMorgan Earnings Miss Estimates But Reveal Broad-Based Strength
Receive News & Ratings for CVR Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVR Energy and related companies with MarketBeat.com's FREE daily email newsletter.
