CVR Energy (NYSE:CVI) Posts Earnings Results, Beats Expectations By $0.04 EPS

CVR Energy (NYSE:CVI) announced its quarterly earnings data on Wednesday. The oil and gas company reported ($0.80) EPS for the quarter, topping the consensus estimate of ($0.84) by $0.04, FiscalAI reports. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.70 billion. CVR Energy had a net margin of 2.26% and a negative return on equity of 6.43%. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.13) earnings per share.

CVR Energy Stock Performance

Shares of CVI stock opened at $22.33 on Thursday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.28 and a current ratio of 1.96. CVR Energy has a fifty-two week low of $15.10 and a fifty-two week high of $41.67. The stock has a 50 day moving average price of $24.81 and a two-hundred day moving average price of $30.35. The company has a market capitalization of $2.25 billion, a P/E ratio of 13.62 and a beta of 1.16.

Hedge Funds Weigh In On CVR Energy

Several hedge funds have recently made changes to their positions in CVI. Royal Bank of Canada lifted its stake in shares of CVR Energy by 67.2% in the first quarter. Royal Bank of Canada now owns 14,904 shares of the oil and gas company’s stock worth $289,000 after buying an additional 5,992 shares in the last quarter. AQR Capital Management LLC bought a new position in CVR Energy in the 1st quarter valued at approximately $611,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in CVR Energy by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,301 shares of the oil and gas company’s stock valued at $394,000 after acquiring an additional 858 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in CVR Energy by 14.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 496,650 shares of the oil and gas company’s stock valued at $9,635,000 after purchasing an additional 63,909 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of CVR Energy by 34.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 273,777 shares of the oil and gas company’s stock worth $7,351,000 after purchasing an additional 69,726 shares in the last quarter. 98.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CVI shares. Weiss Ratings reiterated a “hold (c)” rating on shares of CVR Energy in a research note on Monday, December 29th. The Goldman Sachs Group boosted their target price on CVR Energy from $19.00 to $25.00 and gave the stock a “sell” rating in a research report on Wednesday, October 22nd. Finally, Wall Street Zen raised CVR Energy from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Two analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Strong Sell” and an average price target of $29.25.

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.