Short Interest in CVR Energy Inc. (NYSE:CVI) Rises By 18.6%

CVR Energy Inc. (NYSE:CVI) saw a large increase in short interest in February. As of February 27th, there was short interest totaling 5,881,184 shares, an increase of 18.6% from the February 12th total of 4,957,136 shares. Based on an average daily trading volume, of 1,806,302 shares, the short-interest ratio is currently 3.3 days. Approximately 5.9% of the company’s stock are sold short. Approximately 5.9% of the company’s stock are sold short. Based on an average daily trading volume, of 1,806,302 shares, the short-interest ratio is currently 3.3 days.

Insider Transactions at CVR Energy

In related news, major shareholder Carl C. Icahn bought 275,012 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were acquired at an average cost of $21.41 per share, with a total value of $5,888,006.92. Following the completion of the acquisition, the insider owned 71,201,875 shares of the company’s stock, valued at $1,524,432,143.75. The trade was a 0.39% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired a total of 783,404 shares of company stock worth $16,445,044 in the last three months. 0.01% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Illinois Municipal Retirement Fund raised its stake in CVR Energy by 2.2% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 17,081 shares of the oil and gas company’s stock worth $623,000 after acquiring an additional 363 shares during the period. Victory Capital Management Inc. boosted its position in shares of CVR Energy by 2.9% in 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 period. Congress Asset Management Co. boosted its position in shares of CVR Energy by 0.7% in the third quarter. Congress Asset Management Co. now owns 85,083 shares of the oil and gas company’s stock worth $3,104,000 after purchasing an additional 604 shares during the period. Alliancebernstein L.P. increased its stake in shares of CVR Energy by 1.5% in the third quarter. Alliancebernstein L.P. now owns 48,943 shares of the oil and gas company’s stock worth $1,785,000 after purchasing an additional 700 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of CVR Energy by 5.6% in the fourth quarter. NewEdge Advisors LLC now owns 13,394 shares of the oil and gas company’s stock worth $341,000 after purchasing an additional 709 shares in the last quarter. 98.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group raised 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. Wall Street Zen downgraded shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Mizuho raised their price objective on shares of CVR Energy from $28.00 to $32.00 and gave the company an “underperform” rating in a research note on Tuesday. Finally, Weiss Ratings cut shares of CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a report on Friday, February 20th. One equities research analyst has rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Strong Sell” and a consensus target price of $30.00.

CVR Energy Stock Performance

Shares of CVR Energy stock traded up $1.60 on Tuesday, hitting $29.82. 1,768,694 shares of the company’s stock were exchanged, compared to its average volume of 1,503,345. CVR Energy has a 1 year low of $15.10 and a 1 year high of $41.67. The company has a 50-day simple moving average of $24.07 and a 200-day simple moving average of $30.10. 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 stock has a market capitalization of $3.00 billion, a PE ratio of 114.71 and a beta of 1.12.

CVR Energy (NYSE:CVI) last posted its quarterly earnings data on Wednesday, February 18th. The oil and gas company reported ($0.80) EPS for the quarter, topping the consensus estimate of ($0.84) by $0.04. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.70 billion. CVR Energy had a negative return on equity of 14.31% and a net margin of 0.38%.CVR Energy’s revenue was down 7.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.13) EPS. As a group, equities analysts anticipate that CVR Energy will post -0.12 EPS for the current year.

CVR Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Monday, March 2nd were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.48 annualized dividend and a dividend yield of 5.0%.

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.