CVR Energy (NYSE:CVI) Trading 7.2% Higher – Time to Buy?

CVR Energy Inc. (NYSE:CVI) traded up 7.2% during trading on Tuesday . The company traded as high as $29.92 and last traded at $30.2560. 155,278 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 1,354,837 shares. The stock had previously closed at $28.22.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CVI shares. Weiss Ratings lowered shares of CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research note on Friday, February 20th. The Goldman Sachs Group upped their price target on CVR Energy from $22.00 to $25.00 and gave the company a “sell” rating in a report on Thursday, March 12th. Finally, Wall Street Zen downgraded CVR Energy from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. One investment analyst has rated the stock with a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, CVR Energy presently has an average rating of “Strong Sell” and an average price target of $29.25.

CVR Energy Stock Performance

The stock has a market capitalization of $3.03 billion, a PE ratio of 115.82 and a beta of 1.12. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.13 and a current ratio of 1.79. The firm has a 50 day moving average of $23.97 and a 200-day moving average of $30.11.

CVR Energy (NYSE:CVI) last released its earnings results on Wednesday, February 18th. The oil and gas company reported ($0.80) earnings per share for the quarter, beating the consensus estimate of ($0.84) by $0.04. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.70 billion. CVR Energy had a negative return on equity of 14.31% and a net margin of 0.38%.The business’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.13) EPS. Research analysts forecast that CVR Energy Inc. will post -0.12 earnings per share for the current year.

CVR Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Monday, March 2nd were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.48 dividend on an annualized basis and a yield of 4.9%.

Insiders Place Their Bets

In related news, major shareholder Carl C. Icahn bought 275,012 shares of the business’s stock in a transaction on Tuesday, February 24th. The stock was bought at an average price of $21.41 per share, for a total transaction of $5,888,006.92. Following the transaction, the insider directly owned 71,201,875 shares in the company, valued at $1,524,432,143.75. This represents a 0.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have purchased 783,404 shares of company stock valued at $16,445,044. 0.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CVR Energy

A number of hedge funds have recently modified their holdings of the stock. Neo Ivy Capital Management raised its holdings in shares of CVR Energy by 165.4% during the third quarter. Neo Ivy Capital Management now owns 65,340 shares of the oil and gas company’s stock worth $2,384,000 after acquiring an additional 40,721 shares in the last quarter. JPMorgan Chase & Co. grew its stake in CVR Energy by 38.8% in the third quarter. JPMorgan Chase & Co. now owns 380,127 shares of the oil and gas company’s stock valued at $13,867,000 after purchasing an additional 106,350 shares in the last quarter. Bayforest Capital Ltd purchased a new position in CVR Energy in the third quarter valued at about $1,057,000. Allianz Asset Management GmbH increased its position in CVR Energy by 69.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 458,214 shares of the oil and gas company’s stock worth $16,716,000 after purchasing an additional 187,620 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of CVR Energy by 249.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 149,748 shares of the oil and gas company’s stock worth $4,021,000 after purchasing an additional 106,854 shares in the last quarter. 98.88% of the stock is owned by institutional investors and hedge funds.

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.