CVR Energy (NYSE:CVI) Reaches New 52-Week Low on Disappointing Earnings

CVR Energy, Inc. (NYSE:CVI)’s stock price reached a new 52-week low on Tuesday following a dissappointing earnings announcement. The company traded as low as $18.31 and last traded at $18.33, with a volume of 310637 shares. The stock had previously closed at $23.82.

The oil and gas company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.41). CVR Energy had a net margin of 6.39% and a return on equity of 25.00%. The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the firm earned $1.89 EPS. The firm’s revenue for the quarter was down 27.3% on a year-over-year basis.

Analysts Set New Price Targets

CVI has been the topic of a number of recent research reports. Tudor, Pickering, Holt & Co. cut shares of CVR Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Scotiabank cut their target price on CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating on the stock in a research note on Thursday, October 10th. JPMorgan Chase & Co. lowered their price target on shares of CVR Energy from $26.00 to $23.00 and set an “underweight” rating for the company in a research report on Wednesday, October 2nd. Mizuho cut their price objective on shares of CVR Energy from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Finally, UBS Group decreased their target price on shares of CVR Energy from $33.75 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Four equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $24.75.

Institutional Investors Weigh In On CVR Energy

Several institutional investors have recently bought and sold shares of CVI. Vanguard Group Inc. lifted its stake in CVR Energy by 2.2% during the first quarter. Vanguard Group Inc. now owns 4,020,717 shares of the oil and gas company’s stock valued at $143,379,000 after purchasing an additional 85,773 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of CVR Energy by 2.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,072,334 shares of the oil and gas company’s stock worth $55,476,000 after buying an additional 44,636 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in CVR Energy by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 975,323 shares of the oil and gas company’s stock valued at $26,109,000 after purchasing an additional 3,134 shares during the period. SIR Capital Management L.P. acquired a new stake in shares of CVR Energy in the second quarter worth $17,907,000. Finally, American Century Companies Inc. grew its position in CVR Energy by 60.3% in the 2nd quarter. American Century Companies Inc. now owns 407,819 shares of the oil and gas company’s stock worth $10,917,000 after purchasing an additional 153,396 shares during the last quarter. Institutional investors and hedge funds own 98.88% of the company’s stock.

CVR Energy Stock Down 24.2 %

The stock has a market capitalization of $1.81 billion, a P/E ratio of 2.77 and a beta of 1.48. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.46 and a quick ratio of 0.93. The firm has a 50 day moving average of $23.73 and a 200-day moving average of $26.37.

CVR Energy Company Profile

CVR Energy, Inc, together with its subsidiaries, engages in the petroleum refining and marketing, and nitrogen fertilizer manufacturing activities in the United States. It operates in two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment refines and supplies gasoline, crude oil, distillate, diesel fuel, and other refined products.