CVR Energy (NYSE:CVI) Issues Earnings Results, Misses Estimates By $0.31 EPS

CVR Energy (NYSE:CVI) issued its earnings results on Wednesday. The oil and gas company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.31), FiscalAI reports. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.70 billion. CVR Energy had a negative return on equity of 6.43% and a net margin of 2.26%.

CVR Energy Trading Down 0.8%

CVI stock traded down $0.19 during mid-day trading on Wednesday, reaching $22.33. 1,083,384 shares of the stock traded hands, compared to its average volume of 1,289,302. CVR Energy has a 52-week low of $15.10 and a 52-week high of $41.67. The stock’s fifty day moving average is $25.00 and its 200-day moving average is $30.41. The company has a market cap of $2.25 billion, a P/E ratio of 13.62 and a beta of 1.16. The company has a current ratio of 1.96, a quick ratio of 1.28 and a debt-to-equity ratio of 1.76.

Institutional Trading of CVR Energy

Several large investors have recently added to or reduced their stakes in CVI. Royal Bank of Canada lifted its stake in CVR Energy by 67.2% in the 1st quarter. Royal Bank of Canada now owns 14,904 shares of the oil and gas company’s stock worth $289,000 after acquiring an additional 5,992 shares in the last quarter. AQR Capital Management LLC acquired a new position in CVR Energy in the 1st quarter valued at approximately $611,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of CVR Energy by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,301 shares of the oil and gas company’s stock valued at $394,000 after buying an additional 858 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of CVR Energy by 14.8% in the first quarter. Goldman Sachs Group Inc. now owns 496,650 shares of the oil and gas company’s stock worth $9,635,000 after acquiring an additional 63,909 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in CVR Energy by 34.2% during the second quarter. JPMorgan Chase & Co. now owns 273,777 shares of the oil and gas company’s stock valued at $7,351,000 after purchasing an additional 69,726 shares during the last quarter. 98.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVI has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CVR Energy in a report on Monday, December 29th. Wall Street Zen upgraded CVR Energy from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, The Goldman Sachs Group lifted their price objective on shares of CVR Energy from $19.00 to $25.00 and gave the company a “sell” rating in a research note on Wednesday, October 22nd. Two analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, CVR Energy presently has a consensus rating of “Strong Sell” and an average price target of $29.25.

About CVR Energy

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.