CVR Energy (NYSE:CVI) Hits New 52-Week Low on Analyst Downgrade

Shares of CVR Energy, Inc. (NYSE:CVI) reached a new 52-week low during trading on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $30.00 to $26.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. CVR Energy traded as low as $25.99 and last traded at $26.19, with a volume of 23333 shares changing hands. The stock had previously closed at $26.21.

Several other equities analysts have also issued reports on CVI. UBS Group reduced their price target on CVR Energy from $37.00 to $33.75 and set a “neutral” rating on the stock in a research report on Tuesday, May 14th. StockNews.com cut shares of CVR Energy from a “buy” rating to a “hold” rating in a report on Sunday, June 16th. Finally, Scotiabank upped their price target on shares of CVR Energy from $25.00 to $29.00 and gave the company a “sector underperform” rating in a report on Thursday, April 11th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. Based on data from MarketBeat, CVR Energy currently has an average rating of “Reduce” and an average price target of $29.94.

Hedge Funds Weigh In On CVR Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Jones Financial Companies Lllp purchased a new position in CVR Energy during the 4th quarter valued at $33,000. Future Financial Wealth Managment LLC purchased a new position in shares of CVR Energy during the first quarter valued at about $71,000. Covestor Ltd raised its stake in CVR Energy by 45,560.0% in the first quarter. Covestor Ltd now owns 2,283 shares of the oil and gas company’s stock worth $81,000 after buying an additional 2,278 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in CVR Energy in the fourth quarter worth about $89,000. Finally, TFO Wealth Partners LLC boosted its position in CVR Energy by 246,550.0% during the 4th quarter. TFO Wealth Partners LLC now owns 4,933 shares of the oil and gas company’s stock valued at $149,000 after acquiring an additional 4,931 shares in the last quarter. Institutional investors own 98.88% of the company’s stock.

CVR Energy Price Performance

The stock has a market cap of $2.67 billion, a PE ratio of 4.08 and a beta of 1.54. The business has a fifty day simple moving average of $28.25 and a two-hundred day simple moving average of $31.57. The company has a current ratio of 1.49, a quick ratio of 0.91 and a debt-to-equity ratio of 1.48.

CVR Energy (NYSE:CVI) last issued its quarterly earnings results on Monday, April 29th. The oil and gas company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.09). The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.96 billion. CVR Energy had a return on equity of 40.14% and a net margin of 7.44%. CVR Energy’s revenue for the quarter was down 18.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.44 earnings per share. Research analysts forecast that CVR Energy, Inc. will post 0.95 earnings per share for the current year.

CVR Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were paid a $0.50 dividend. The ex-dividend date was Friday, May 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.52%. CVR Energy’s dividend payout ratio is currently 30.67%.

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.