CVR Energy (NYSE:CVI) Shares Down 4.1%

CVR Energy, Inc. (NYSE:CVI)’s share price was down 4.1% on Friday . The stock traded as low as $23.59 and last traded at $23.60. Approximately 174,090 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 1,024,814 shares. The stock had previously closed at $24.60.

Wall Street Analyst Weigh In

Several analysts have weighed in on CVI shares. Mizuho lowered their target price on CVR Energy from $27.00 to $25.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Tudor Pickering raised CVR Energy to a “strong sell” rating in a research note on Monday, September 9th. Tudor, Pickering, Holt & Co. lowered CVR Energy from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. Scotiabank increased their price objective on CVR Energy from $24.00 to $25.00 and gave the company a “sector underperform” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. decreased their price objective on CVR Energy from $30.00 to $26.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 2nd. Four analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $26.50.

CVR Energy Price Performance

The company has a 50-day moving average of $24.85 and a two-hundred day moving average of $28.64. The stock has a market capitalization of $2.36 billion, a PE ratio of 3.60 and a beta of 1.49. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.46 and a quick ratio of 0.93.

CVR Energy (NYSE:CVI) last released its earnings results on Monday, July 29th. The oil and gas company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.39. CVR Energy had a return on equity of 25.00% and a net margin of 6.39%. The firm had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the business posted $1.64 earnings per share. The firm’s revenue for the quarter was down 12.0% compared to the same quarter last year. Sell-side analysts predict that CVR Energy, Inc. will post 0.55 EPS for the current fiscal year.

CVR Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.52%. CVR Energy’s dividend payout ratio (DPR) is 30.67%.

Hedge Funds Weigh In On CVR Energy

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of CVR Energy by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 4,020,717 shares of the oil and gas company’s stock worth $143,379,000 after purchasing an additional 85,773 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of CVR Energy by 2.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,072,334 shares of the oil and gas company’s stock valued at $55,476,000 after buying an additional 44,636 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of 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 buying an additional 3,134 shares during the period. SIR Capital Management L.P. purchased a new stake in shares of CVR Energy during the 2nd quarter valued at about $17,907,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of CVR Energy by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 554,792 shares of the oil and gas company’s stock valued at $16,810,000 after buying an additional 11,614 shares during the period. 98.88% of the stock is currently owned by hedge funds and other institutional investors.

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.