CVR Energy (NYSE:CVI) Shares Down 7% – What’s Next?

Shares of CVR Energy Inc. (NYSE:CVI) were down 7% during trading on Monday . The company traded as low as $28.65 and last traded at $28.5310. Approximately 66,815 shares changed hands during trading, a decline of 95% from the average daily volume of 1,217,296 shares. The stock had previously closed at $30.67.

Analyst Ratings Changes

A number of analysts recently commented on CVI shares. Weiss Ratings downgraded shares of CVR Energy from a “sell (d+)” rating to a “sell (d-)” rating in a report on Friday, May 15th. The Goldman Sachs Group started coverage on shares of CVR Energy in a report on Friday, April 10th. They set a “sell” rating and a $30.00 price objective on the stock. Mizuho boosted their price objective on shares of CVR Energy from $32.00 to $35.00 and gave the stock an “underperform” rating in a report on Wednesday, May 27th. Raymond James Financial raised shares of CVR Energy from an “underperform” rating to a “market perform” rating in a report on Wednesday, March 25th. Finally, Scotiabank boosted their price objective on shares of CVR Energy from $25.00 to $28.00 and gave the stock a “sector underperform” rating in a report on Wednesday, April 22nd. Two analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Strong Sell” and an average price target of $32.50.

CVR Energy Stock Down 5.4%

The company has a market cap of $2.92 billion, a PE ratio of -67.50 and a beta of 0.80. The company has a quick ratio of 0.89, a current ratio of 1.44 and a debt-to-equity ratio of 2.41. The firm’s fifty day simple moving average is $32.59 and its 200-day simple moving average is $29.04.

CVR Energy (NYSE:CVI) last announced its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.70). CVR Energy had a negative net margin of 0.56% and a negative return on equity of 22.36%. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the company earned ($0.58) EPS. The firm’s revenue for the quarter was up 20.3% on a year-over-year basis. As a group, equities research analysts expect that CVR Energy Inc. will post 0.88 earnings per share for the current fiscal year.

CVR Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 18th. Shareholders of record on Monday, May 11th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, May 11th. CVR Energy’s dividend payout ratio is -93.02%.

Institutional Trading of CVR Energy

Several institutional investors and hedge funds have recently modified their holdings of CVI. BNP Paribas Financial Markets lifted its holdings in shares of CVR Energy by 21,261.8% in the third quarter. BNP Paribas Financial Markets now owns 776,073 shares of the oil and gas company’s stock valued at $28,311,000 after purchasing an additional 772,440 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of CVR Energy during the third quarter valued at approximately $22,217,000. Squarepoint Ops LLC purchased a new position in shares of CVR Energy during the fourth quarter valued at approximately $9,616,000. Bank of America Corp DE lifted its stake in shares of CVR Energy by 101.2% during the third quarter. Bank of America Corp DE now owns 706,504 shares of the oil and gas company’s stock valued at $25,773,000 after buying an additional 355,412 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of CVR Energy by 33.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,364,250 shares of the oil and gas company’s stock valued at $49,768,000 after buying an additional 345,758 shares during the period. Hedge funds and other institutional investors own 98.88% of the company’s stock.

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.