CVR Energy (NYSE:CVI) Stock Price Up 7.2% – Should You Buy?

CVR Energy Inc. (NYSE:CVI)’s share price rose 7.2% on Tuesday . The stock traded as high as $34.87 and last traded at $34.78. Approximately 469,030 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 1,450,294 shares. The stock had previously closed at $32.45.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Weiss Ratings lowered CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research report on Friday, February 20th. The Goldman Sachs Group increased their price target on CVR Energy from $22.00 to $25.00 and gave the company a “sell” rating in a research note on Thursday, March 12th. Mizuho raised their price objective on CVR Energy from $28.00 to $32.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 17th. Finally, Wall Street Zen raised CVR Energy from a “sell” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Strong Sell” and an average target price of $30.00.

CVR Energy Stock Up 2.5%

The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 128.19 and a beta of 1.12. The stock has a 50 day simple moving average of $24.87 and a 200 day simple moving average of $30.15. The company has a quick ratio of 1.13, a current ratio of 1.79 and a debt-to-equity ratio of 1.95.

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

CVR Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Monday, March 2nd were paid a $0.37 dividend. The ex-dividend date was Monday, March 2nd. This represents a $1.48 annualized dividend and a yield of 4.4%. CVR Energy’s dividend payout ratio (DPR) is 569.23%.

Insider Activity at CVR Energy

In other 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 purchased at an average price of $21.41 per share, with a total value 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have purchased 783,404 shares of company stock worth $16,445,044. 0.01% of the stock is owned by company insiders.

Hedge Funds Weigh In On CVR Energy

Several institutional investors have recently modified their holdings of CVI. Neo Ivy Capital Management increased its position 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 valued at $2,384,000 after buying an additional 40,721 shares during the period. JPMorgan Chase & Co. boosted its position in shares of 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 acquiring an additional 106,350 shares during the period. Bayforest Capital Ltd purchased a new position in CVR Energy during the third quarter valued at approximately $1,057,000. Allianz Asset Management GmbH grew its stake in CVR Energy by 69.3% during the third quarter. Allianz Asset Management GmbH now owns 458,214 shares of the oil and gas company’s stock valued at $16,716,000 after acquiring an additional 187,620 shares in the last quarter. Finally, Citigroup Inc. increased its holdings in CVR Energy by 95.6% during the 3rd quarter. Citigroup Inc. now owns 391,985 shares of the oil and gas company’s stock worth $14,300,000 after acquiring an additional 191,584 shares during the period. 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.