CVR Energy (NYSE:CVI) Stock Price Up 6.4% – Time to Buy?

CVR Energy Inc. (NYSE:CVI)’s stock price was up 6.4% during mid-day trading on Monday. The company traded as high as $61.56 and last traded at $61.86. Approximately 61,283 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 1,126,974 shares. The stock had previously closed at $58.16.

Analyst Upgrades and Downgrades

CVI has been the subject of several recent research reports. Mizuho increased their price objective on CVR Energy from $29.00 to $52.00 and gave the company an “underperform” rating in a research note on Thursday, October 8th. Wall Street Zen raised shares of CVR Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 10th. The Goldman Sachs Group lifted their target price on shares of CVR Energy from $36.00 to $50.00 and gave the stock a “sell” rating in a research note on Friday, October 9th. UBS Group upped their target price on shares of CVR Energy from $35.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, October 2nd. Finally, Weiss Ratings upgraded shares of CVR Energy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $45.75.

CVR Energy Trading Up 6.5%

The stock has a market capitalization of $6.23 billion, a price-to-earnings ratio of 90.92 and a beta of 0.90. The company’s 50-day moving average is $50.29 and its 200-day moving average is $38.48. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 2.38.

CVR Energy (NYSE:CVI) last issued its earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.08. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.22 billion. CVR Energy had a net margin of 0.81% and a negative return on equity of 15.21%. CVR Energy’s quarterly revenue was up 55.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.23) earnings per share. Research analysts anticipate that CVR Energy Inc. will post 4.20 earnings per share for the current fiscal year.

CVR Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 10th were issued a dividend of $0.10 per share. The ex-dividend date was Monday, August 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.6%. CVR Energy’s dividend payout ratio (DPR) is currently 58.82%.

Institutional Investors Weigh In On CVR Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVI. BlackRock Inc. purchased a new position in CVR Energy during the second quarter worth about $143,262,000. State Street Corp raised its stake in shares of CVR Energy by 11.0% in the 2nd quarter. State Street Corp now owns 2,153,498 shares of the oil and gas company’s stock valued at $59,315,000 after acquiring an additional 213,829 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of CVR Energy by 16.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,908,062 shares of the oil and gas company’s stock valued at $64,220,000 after acquiring an additional 265,013 shares during the period. Bank of America Corp DE raised its stake in shares of CVR Energy by 19.4% in the 2nd quarter. Bank of America Corp DE now owns 671,728 shares of the oil and gas company’s stock valued at $18,499,000 after acquiring an additional 109,338 shares during the period. Finally, PDT Partners LLC acquired a new position in shares of CVR Energy in the 2nd quarter worth approximately $14,502,000. Hedge funds and other institutional investors own 98.88% of the company’s stock.

CVR Energy Company Profile

CVR Energy, Inc (NYSE:CVI) is a diversified energy company engaged primarily in petroleum refining and nitrogen fertilizer production. Through its refining operations, the company processes crude oil into transportation fuels and other refined products, including gasoline, diesel fuel, jet fuel and asphalt.

CVR Energy operates refineries in Coffeyville, Kansas, and Wynnewood, Oklahoma. The facilities primarily serve customers in the Midcontinent region of the United States and are supported by related logistics and distribution assets.